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The Westchester Bank Reports 30 Percent Rise In Profits

John Tolomer
John Tolomer Photo Credit: Contributed

WHITE PLAINS, N.Y. -- The Westchester Bank, coming off a record-breaking 2014, recently reported to investors another strong performance for the first quarter 2015 generating a net profit of $1.052 million for the period ending March 31. This represents a 30 percent increase in net profits versus the same period in 2014.

“The Bank’s financial condition remains very strong and well capitalized," said John M. Tolomer, president and chief executive officer. "We continue to outperform expectations, which gives further evidence that our business model – Banking Made Personal – is the right model for the NY Metro marketplace. We believe the model will continue to endure in direct proportion to the level of employee execution."

As a growth company, the bank continues to invest in people, locations and community, Tolomer said. Several new hires have been added since the beginning of the year to meet growth challenges and a market analysis process for a new, fifth branch location is well under way, he said.

The bank has branches in White Plains, Yonkers, Thornwood and Mount Kisco.

The bank also remains steadfast in its commitment to community organizations that represent the varied, social fabric of Westchester County, according to Tolomer.

For more information, visit The Westchester Bank website .

Daily Voice produced this article as part of a paid Content Partnership with our advertiser, The Westchester Bank

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