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Apple Bank completes Emigrant branch purchases
Apple Bank for Savings, based in Manhasset, said Tuesday it completed its acquisition of most of Emigrant Savings Bank’s branches.
The 29 branches acquired are Manhattan, Brooklyn, the Bronx, Queens, Long Island and Westchester, and now operate under the Apple Bank name.
The new branches increase Apple’s total to 77 and its assets from $9.8 billion to almost $13 billion, the privately held bank said.
Emigrant has retained its branches on East 42 Street in Manhattan and in Ossining, NY, in addition to its Internet-based accounts.
Financial terms of the transaction, which was announced July 20, were not disclosed.