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Community banks were defined as institutions with assets between $500 million and $5 billion and 60 or fewer offices. In addition, at least one-third of the bank's balance sheets must be composed of loans with less than half of those loans attributable to credit card lending.
The bank also had to be well-capitalized according to regulatory standards and could not have a majority of revenue derived from non-traditional banking activities.
Based on these criteria, 805 banking entities were eligible. The Westchester Bank ranked No. 85 nationwide and was one of only two banks from all of New York State to receive a Top 100 Best Performing Community Bank distinction.
This unique recognition is in addition to several 2014 performance accolades The Westchester Bank has already received. Other honors include a Bauer 5-Star Rating and selection as one of the Top 200 Banks in America as ranked by DepositAccounts.com.
“We’re truly honored to be chosen a Top 100 Best Performing Bank in the country,'' said John M. Tolomer, President & CEO of The Westchester Bank. "It’s a testament to the quality and caliber of our entire bank team who work tirelessly to deliver world class banking service to our customers. Our service model - Banking Made Personal - resonates with the local business community and we remain very proud to be working with many of the most respected companies in Westchester County. I expect The Westchester Bank’s success to continue through the effective execution of our service model, building mutually beneficial relationships and meeting each of our clients’ specialized banking requirements."
The Westchester Bank is a New York State Chartered and full service FDIC insured commercial bank offering state-of-the-art technology with a comprehensive line of banking products to businesses and consumers including: business and personal checking, business lending, commercial mortgages, savings accounts, CDs, money market accounts, Interest on Lawyer Accounts (IOLA), attorney escrow accounts and tenant security accounts.
The Westchester Bank is headquartered in White Plains at 12 Water Street and has other locations in Yonkers, Thornwood, White Plains and Mount Kisco.
