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The scandal revolved around Houston banker and insurance company manager Frank Sharp and his companies, the Sharpstown State Bank and the National Bankers Life Insurance Corporation (NBL). Sharp granted $600,000 in loans from his bank to state officials who would, in turn, purchase stock in National Bankers Life, to be resold later at a huge ...
What is a community bank? Community banks are commonly defined as individual banks that have less than $1 billion in assets, while community banking organizations generally are those with under ...
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Community Bank, N.A. is the wholly owned national banking subsidiary of Community Bank System, Inc. (CBSI), whose predecessor bank was the St. Lawrence National Bank, chartered in 1866. In 1983, CBSI was incorporated in Delaware and became a registered bank holding company.
A community bank is a depository institution that is typically locally owned and operated. [citation needed] Community banks tend to focus on the needs of the businesses and families where the bank holds branches and offices. Lending decisions are made by people who understand the local needs of families, businesses, and farmers.
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In 2017, the bank sold the mortgage business acquired from the purchase of AmTrust at a $90 million profit. [18] In March 2010, Desert Hills Bank of Phoenix, Arizona, with $496 million in assets, was seized by the FDIC and acquired by NYCB. [19] [20] In June 2012, NYCB acquired the assets of Aurora Bank from Lehman Brothers. [21]