June 24, 2018 1:23 AM ET

Thrifts and Mortgage Finance

Company Overview of PCSB Bank

Company Overview

PCSB Bank provides financial services to individuals and businesses in Putnam, Southern Dutchess, Rockland, and Westchester Counties in New York. Its deposits products include non-interest bearing demand, NOW, money market, escrow, and savings accounts, as well as certificates of deposit. The company also offers commercial real estate, multi-family residential real estate, commercial business, construction, residential mortgage, consumer, and consumer and business installment loans, as well as home equity lines of credit. It provides its services from executive offices/headquarters and 15 branch offices. The company was founded in 1871 and is headquartered in Yorktown Heights, New York. PCSB...

2651 Strang Boulevard

Suite 100

Yorktown Heights, NY 10598

United States

Founded in 1871

Phone:

914-248-7272

Key Executives for PCSB Bank

Chairman, President & CEO
Age: 64
Chief Financial Officer and Executive Vice President
Age: 47
Chief Information Officer and Senior Vice President
Age: 53
Senior Vice President of Compliance and CRA Officer
Age: 47
Chief Risk Officer, Senior Vice President and General Counsel
Age: 67
Compensation as of Fiscal Year 2017.

PCSB Bank Key Developments

PCSB Bank Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2017; Reports Net Charge-Offs for the Third Quarter Ended March 31, 2017

PCSB Bank reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2017. For the quarter, the company reported total interest and dividend income of $10,276,000 against $9,868,000 for the same period a year ago. Net interest income was $8,958,000 against $8,676,000 for the same period a year ago. Net income before income tax expense was $2,769,000 against $1,567,000 for the same period a year ago. Net income was $1,891,000 against $1,099,000 for the same period a year ago. Return on average assets was 0.59% against 0.36% for the same period a year ago. Return on average equity was 6.62% against 3.88% for the same period a year ago. Net interest income increased for the three and nine months ended March 31, 2017 as a result of an increase in the average balances of loans and investment securities outstanding, partially offset by an increase in the average balance of deposits and the average rate paid on deposits. For the nine months, the company reported total interest and dividend income of $30,235,000 against $29,089,000 for the same period a year ago. Net interest income was $26,260,000 against $25,531,000 for the same period a year ago. Net income before income tax expense was $7,302,000 against $4,396,000 for the same period a year ago. Net income was $5,019,000 against $3,082,000 for the same period a year ago. Return on average assets was 0.53% against 0.34% for the same period a year ago. Return on average equity was 5.94% against 3.65% for the same period a year ago. Charge-offs, net of recoveries, were $34,000 for the third quarter ended March 31, 2017 compared to $348,000 for the third quarter ended March 31, 2016.

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Recent Private Companies Transactions

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