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Gold Coast Bank to Open Farmingdale Branch

Long Island based bank gets state and federal approval for new branch.

Gold Coast Bank has received state and federal approval to open a new branch in Farmingdale, bank officials announced this week.

The community bank, headquartered in Islandia, received the OK from the state's Department of Financial Services and Federal Deposit Insurance Corporation to open it's fourth branch in the Town of Babylon.

The branch is slated to open the week of April 23 on Allen Boulevard. A formal grand opening celebration is scheduled for May 22, the bank announced.

The new Farmingdale branch manager is Sandy Buttacy of West Babylon, formerly vice president and branch manager with First National Bank of Long Island. Buttacy brings seven years of banking experience and service within the Farmingdale area, the bank announced.

"...The Farmingdale location presents a wonderful opportunity for broadening our brand of banking, which specializes in a myriad of private-client banking type services for business owners, professionals and high-net worth individuals,” said Gold Coast Bank President and Chief Executive Officer Joseph G. Perri, in a statement.

The bank, founded in March 2008, reports total assets of $160 million. Perri said the bank has been "especially active in extending loans, in part because it does not have a portfolio of troubled loans that some other banks are continually burdened with today.”

Gold Coast Bank, headquartered in Islandia, with current branch locations in Huntington and Setauket, provides a range of business products, including term loans, lines of credit, and real estate loans. It also offers a number of Small Business Administration (SBA) products and traditional consumer products.

For more information about Gold Coast Bank, please visit www.gcbny.com.

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