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Press Release

March 28, 2012

Contact: Ron Klug 518-474-4567

Superintendent Lawsky Announces Nine Appointments To New State Charter Bank Advisory Board

Appointees Represent a Range of Banks and Include Consumer Representative

Benjamin M. Lawsky, Superintendent of Financial Services, today announced the appointment of the nine members of the new State Charter Advisory Board which will advise the Superintendent on ways to promote the state chartered banking system. The board’s creation was authorized last year with the enactment of the Financial Services Law used to establish the Department of Financial Services.

“This Department is committed to developing a strong state chartered banking system that enables banks to grow and create jobs for New Yorkers. The nine members of the new board have a wealth of professional experience. I am eager to draw on their expertise so we can build a flourishing state chartered system,” Superintendent Lawsky said.

Under the Financial Services Law, the Advisory Board will be responsible for retaining existing state chartered banks, encouraging federally chartered banks to change to state charters and promoting the state banking system.

The appointments to the new board include bankers representing banks with assets ranging from less than $500 million to those with significantly greater assets, and reflecting a range of locations across the state. In addition, there is one representative from a credit union, one from a foreign bank and one representative of consumer interests.

The board’s members, each appointed by the Superintendent to a three-year term, will serve without compensation. The board will meet at least three times a year.

The members of the board are:

· Angelo R. Aldana, general manager of Mizuho Corporate Bank Ltd. He is based in New York and is the foreign bank representative to the board.

· Peter M. Boger, chairman, president and chief executive officer of Ridgewood Savings Bank, which has offices throughout the New York City metropolitan area.

· Eugene Peter Forrestel II, president and chief executive officer of the Bank of Akron in Erie County.

· Brian E. Hickey, of Pittsford in Monroe County, the executive vice president of M&T Bank Corporation.

· Brian D. Obergfell, senior partner of Emmet, Marvin & Martin LLP of New York, which represents bank group syndicate members.

· Joseph G. Perri, president and chief executive officer of Gold Coast Bank on Long Island.

· Mark Pfisterer, president and chief executive officer of AmeriCU Credit Union, based in Rome.

· John M. Tolomer, president and chief executive officer of The Westchester Bank of Yonkers.

· Joshua Zinner of Brooklyn, who is co-director of the Neighborhood Economic Development Advocacy Project and will serve as the consumer representative on the board.

There are approximately 300 state chartered banks in New York with assets of $2.1 trillion and the number of state chartered banks is growing. Two banks, Cross County Savings Bank of Queens and Elmira Savings Bank, recently converted to state from federal charters. A number of other banks are also expected to convert. Converting to state charters enables banks to be supervised by regulators with an in-depth understanding of the dynamics of banks’ home markets.

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