WaldenSavingsBank.com offers personal & business banking service in Hudson Valley, NY
Title
Walden Savings Bank - Walden, Washingtonville, Montgomery, Cornwall-on-Hudson, Pine Bush, New Windsor, Gardiner and Scotts Corners
Description
Walden Savings Bank, established in 1872, is a state chartered mutual savings bank headquartered in Montgomery, New York. Effective August 15, 2002, the Bank opened its new Corporate Headquarters office, located at the Crossroads Corporate Park, at the intersection of Route 17K and Route 208 in the Town of Montgomery. All administrative functions have been consolidated at the new facility, along with a new branch that opened on December 9, 2002. In addition to its headquarters, the bank maintains nine full service branches in southeastern New York (Walden, Washingtonville, Montgomery, Cornwall-on-Hudson, Pine Bush, New Windsor, Gardiner, Scotts Corners and Milton). With the exception of the Gardiner and Milton branches, which are located in Ulster County, all of the banks branches are located in Orange County. For lending purposes, the Bank's primary market area covers Orange County, and extends into parts of Ulster and Sullivan Counties, which are adjacent.
Walden Savings Bank is a member of the Federal Home Loan Bank (FHLB) system, and its deposits are insured up to the regulatory maximums by the Bank Insurance Fund (BIF) of the Federal Deposit Insurance Corporation. As of April 30, 2005, Walden Savings Bank had $230,371,108 in assets, $204,587,634 in deposits and total equity of $19.2 million or 8.37% of total assets.
Walden Savings Bank is a community-oriented thrift, with a primary strategic objective of meeting the borrowing and deposit needs of its local customer base. Historically, the bank's operating strategy has been reflective of a traditional thrift in which 1-4 family residential mortgage loans and retail deposits constitute the principal components of the Bank's assets and liabilities, respectively. Lending diversification by the Bank includes construction, multi-family, vacant land, commercial real estate, consumer and commercial business loans.
