Thomas M. O'Brien Named to the
Federal Home Loan Bank of New York Board of Directors
Contact: Eric Amig - 212 441-6807 |
April 8, 2008 |
New York, New York – The Federal Home Loan Bank of New York Board of Directors has selected Thomas M. O'Brien to join its Board. Mr. O'Brien, President and Chief Executive Officer of State Bank of Long Island, Jericho, New York, will serve on the Board in the current appointment term, until December 31, 2008.
State Bank of Long Island is the largest independent commercial bank headquartered on Long Island. With a network of seventeen branch locations throughout Nassau, Suffolk, Queens and Manhattan, State Bank provides a broad range of financial solutions for commercial real estate developers and owners, small businesses, middle market companies, professional service firms, municipalities and consumers.
"We are delighted that Mr. O'Brien will be joining the Board of Directors," said Alfred A. DelliBovi, President and CEO of the Federal Home Loan Bank of New York. "He is a seasoned community banker who not only understands the region and its many market segments, but he has keen insight into the overall financial services industry. We look forward to his participation on the Board and benefiting from his direction and contributions."
Mr. O'Brien joined State Bank of Long Island as President and CEO in 2007, following six years serving as the President and CEO of Atlantic Bank of New York. Mr. O'Brien also served as Vice Chairman of North Fork Bancorporation as well as Chairman of the Board, President and CEO of North Side Savings Bank.
Mr. O'Brien is the immediate past Chairman of the New York Bankers Association. He is an independent director for Prudential Insurance Co., a trustee of the Catholic Healthcare System of New York and Catholic Healthcare Foundation, and a trustee of Niagara University. He has been a trustee of Molloy College, a member of the National Advisory Board of Fannie Mae and an advisory board member for the Neighboring Housing Services of New York.
State Bank, which is a subsidiary of State Bancorp, Inc. (NASDAQ: STBC), has built a widely recognized reputation for providing high-quality personalized service and attention to meet the diverse financial needs of its customers. In addition to its seventeen branches locations, State Bank maintains its corporate headquarters and lending operation in Jericho, NY. State Bank’s web site, www.statebankofli.com, provides corporate, investor and branch banking information.
The FHLBNY is a $109 billion, AAA-rated, Congressionally-chartered wholesale bank. It is part of the FHLBank System, a national wholesale banking network of 12 regional, stockholder-owned banks. The FHLBNY serves 293 community lenders in New Jersey, New York, Puerto Rico, and the U.S. Virgin Islands. The mission of the FHLBNY is to advance housing opportunity and local community development by maximizing the capacity of community-based member lenders to serve their markets.
# # #
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
This report contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "projected," "expects," "may," or their negatives or other variations on these terms. The Bank cautions that, by their nature, forward-looking statements involve risk or uncertainty and that actual results could differ materially from those expressed or implied in these forward-looking statements or could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, regulatory and accounting rule adjustments or requirements, changes in interest rates, changes in projected business volumes, changes in prepayment speeds on mortgage assets, the cost of our funding, changes in our membership profile, the withdrawal of one or more large members, competitive pressures, shifts in demand for our products, and general economic conditions. We undertake no obligation to revise or update publicly any forward-looking statements for any reason.
Prior Releases 