New York City Comptroller William C. Thompson, Jr. at the groundbreaking ceremony of the Victory State Bank in Staten Island, the newest branch of the enriched Banking Development District program on August 1, 2005. Pictured (left to right) are: Robert Cutrona, Board Member, Victory State Bank; Robert Walsh, Commissioner, Small Business Services; Thompson; Diana L. Taylor, Superintendent, New York State Banking Department; Joseph Libassi, Chairman, Victory State Bank; Merton Corn, President and CEO, Victory State Bank; and, Ralph Branca, Chief Financial Officer, Victory State Bank.

View NY State Banking Department Release

New York City Comptroller William C. Thompson, Jr. and the New York State Banking Department today celebrated the designation of the state’s 17 th Banking Development District (BDD)- the first under the new Enriched BDD Program- with a groundbreaking ceremony for Victory State Bank in Stapleton, Staten Island.

“With its designation as an enriched Banking Development District, Stapleton is the newest addition to the list of New York City communities that will benefit from increased banking services,” Comptroller Thompson said. “This effort will go a long way to promote economic development and improv e services for community residents in a neighborhood undergoing a revitalization. By investing in Banking Development Districts, the City is investing in New Yorkers.”

In addition to Thompson, the BDD’s Working Group includes New York State Comptroller Alan G. Hevesi, as well as other city and state agencies. The Working Group developed the Enriched BDD Program to provide additional economic incentives and resources for banks looking to open branches in underbanked communities. The revamped program will enhance the viability of new bank branches while encouraging local job creation, lending and community outreach.

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