The one-year-old Westchester Bank has received approval from state and federal regulators to open its second branch office in Westchester County.
The 2,200-square-foot branch at 464 Mamaroneck Ave. in downtown White Plains is expected to open in late fall, bank officials said. The office formerly was a branch of Washington Mutual Inc.
John Tolomer, president and CEO of The Westchester Bank, called the approved opening “an exciting and important milestone for our bank. Our new White Plains branch will position us for continued growth in what is one of the region’s most dynamic cities.” Tolomer said the city’s downtown renaissance in housing, retail stores, restaurants and small businesses provides “an ideal market” for the bank.
In April, The Westchester Bank officially opened its new 8,000-square-foot headquarters and branch at 2001 Central Park Ave. in Yonkers. Currently the bank’s assets total over $116 million, with deposits in excess of $100 million. The bank has made more than $50 million in commercial loans.
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