Emigrant Bank · New York, NY United States
Company Description
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This link will open in a new window Emigrant Bank has built its business around the huddled masses longing to save. The bank, which also has four regional Emigrant Savings Bank affiliates in the Bronx, Brooklyn, Queens, and Long Island, serves retail and commercial customers in the New York metropolitan area from some 35 branches. It offers online banking nationwide through its EmigrantOnline service. The bank provides standard products such as checking and savings accounts, CDs, IRAs, and credit and debit cards. New York Private Bank & Trust is Emigrant Bank's wealth management division; Emigrant Financial Services offers mutual funds and life insurance. Emigrant Mortgage originates home loans in about a dozen Eastern states. To read the full description, subscribe now.
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Key Emigrant Bank Financials
| Company Type | Private Headquarters |
| Fiscal Year-End | December |
| 2007 Sales (mil.) | $771.2 |
| 2007 Employees | 809 |
Emigrant Bank Executives
6 executives listed for Emigrant Bank's New York, NY location.
| Title | Name & Bio | Contact |
| Chairman and CEO | Howard Milstein | Network |
| SVP and Chief Marketing Officer | Ted Morehouse | Network |
| SVP and Chief Marketing Officer | Stephen Sloop | Network |
Competition
Competitive Landscape for Emigrant Bank
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Emigrant Bank Competitors
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