William J. Jennings 2d disagrees with critics of Haven Bancorp’s supermarket strategy. The way he tells it, his Westbury, N.Y., thrift company simply allows the sale of groceries in its CFS Bank.

“I once asked an analyst what he would feel if we put a Starbucks Coffee in a traditional branch,” says Mr. Jennings, who is the president and chief operating officer of $2.9 billion-asset Haven and of CFS. “He said, ‘Wow, what a great idea!’

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