NEW YORK -- The Federal Home Loan Bank of New York said it has added three commercial banks as stockholders, bringing to 10 the number of additions since the 1989 thrift-reform law broadened its membership to include banks and credit unions.
The three new members, with combined assets of $821 million, are Bridgehampton National Bank, Bridgehampton, N.Y.; First National Bank of Glens Falls, N.Y., and Olympian Bank of New York City.
Since August 1989, the New York home loan bank has added a savings bank, a credit union, and eight commercial banks, with $5.1 billion in combined assets. The institutions can use the home loan bank as a source of liquidity for mortgage financing.
