Superintendent of Financial Services Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has approved the application of Empire State Bank to open and operate a new branch office in South Avenue, Borough of Staten Island, New York.  

“Empire State Bank’s approval reaffirms DFS’s commitment to expanding banking services to every person in New York State,” said Superintendent Lacewell. “Not only will the people of Staten Island have more banking options, but also the opportunity for the community to access financial services and products to grow and prosper financially.” 

With the new additional branch office, Empire State Bank will operate 6 branch offices and two representative offices located in the New York City Boroughs of Staten Island, Brooklyn, and Queens. As of September 30, 2020, Empire State Bank had total assets of $495.4 million.  

Philip Guarnieri, the Company’s Chief Executive Officer, stated, “We are so pleased to have been offered the opportunity to be the Bank to establish a Banking Center at Corporate Commons Three.  We will be the only Bank to service 530,000 square feet of office space.  Our relationship style of service will allow us to establish banking relationships with the tenants of this location and surrounding buildings on the South Avenue business corridor.” 

Empire State Bank expects to open South Avenue Branch for retail operations on or about the first quarter of 2021.  

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