ELMIRA, NY--(Marketwired - May 7, 2015) - Elmira Savings Bank (
The Bank had previously redeemed all of the preferred stock that had been issued to the Treasury under both the CPP and the Small Business Lending Fund Program ("SBLF"). With the repurchase of the warrant, the Bank has redeemed all of the securities it had issued to the Treasury in connection with its participation in both the CPP and SBLF.
"We are pleased to have taken this last step to completely conclude Elmira Savings Bank's participation in the CPP," said Thomas M. Carr, President and Chief Executive Officer.
Elmira Savings Bank, with $562.2 million in total assets, is insured by the Federal Deposit Insurance Corporation (FDIC) and is a state-chartered bank with six offices in Chemung County, NY; three offices and a loan center in Tompkins County, NY; two offices in Steuben County, NY; one office in Cayuga County, NY; one office in Schuyler County; a loan center in Cortland County, NY; and a loan center in Broome County, NY.
Except for the historical information contained herein, the matters discussed in this news release are forward looking statements that involve the risks and uncertainties, including the timely availability and acceptance of Bank products, the impact of competitive products and pricing, the management of growth, and other risks detailed from time to time in the Bank's regulatory reports.
Contact Information:
For further information contact:
Thomas M. Carr
President & CEO
Elmira Savings Bank
333 East Water Street
Elmira, New York 14901
(607) 735-8660