ARLINGTON, VA - National Cooperative Bank (NCB), a financial institution committed to serving cooperatives nationwide, reported $951 million in real estate lending during 2014. The Bank arranged more than $593 million in financing for housing communities, $186 million in new loans for 744 individual unit owners and $172 million for other commercial real estate projects across the country.
“2014 was another great year for NCB, as it experienced successful financing throughout the commercial and residential real estate industry nationwide, particularly in the New York cooperative housing market,” said Charles E. Snyder, President and CEO of NCB. “We also we experienced loan growth in other commercial real estate properties nationwide with the hiring of two new commercial real estate business development officers. We enter 2015 with a great pipeline and look forward to another strong year.”
Cooperative Building Loan Highlights for New York:
Of the $593 million originated for housing associations in 2014, $523 was arranged for properties in the New York metropolitan area, which boasts the largest number of cooperative housing communities in the country. This region is a key market for the Bank, which captures the majority of the market share as the leading lender.
Residential Loan Highlights:
NCB’s residential lending had another strong year originating $186 million: the West Coast lending team arranged 342 loans totaling $85 million; the New York office secured $68.3 million in financing for 150-unit owners; and $32.7 million was originated for 250 unit owners in co-ops in other parts of the country.
About National Cooperative Bank: National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members, and socially responsible organizations. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook, or on Twitter @coopbanking.