Thrift Originates Over $21M in 1Q

NCB FSB, the thrift unit of an organization (NCB Financial Group) dedicated to lending to cooperatives, originated over $21.7 million in new loans for 131 residential coop owners during the first quarter of 2010. "NCB FSB's ability to provide consistent and competitive financing, even in light of the current economic environment, is an important resource for consumers looking to purchase a home, pay for capital improvements or refinance existing debt," said Chris Goettke, director of residential lending. "The bank's commitment to providing these creative lending solutions was born out of its mission, to provide financial assistance to the cooperative market." By region, NCB FSB lent $11.7 million for the West Coast cooperative housing market, $5.8 million for the New York market and $2.1 million in new loan originations in the Washington Metropolitan area.