Savoy Bank, New York City's Newest Bank, is Open for Business in Midtown Manhattan

Savoy Bank, New York City's Newest Bank, is Open for Business in Midtown
Manhattan
- Local, Homegrown Bank to Meet The Unique Needs of Entrepreneurs and Small
Businesses in New York City -

NEW YORK, June 10 /PRNewswire/ -- Savoy Bank, a new full-service
commercial bank, is open for business in the heart of Midtown Manhattan at
Broadway and 52nd Street. Savoy was founded by a group of New York
entrepreneurs and seasoned bankers with a clear mission: to provide the city's
small businesses with the personalized service they deserve -- but rarely ever
get -- from big banks that dominate the financial services landscape.
Savoy, a state-chartered, FDIC-insured institution, is the first locally
owned bank to open in Midtown Manhattan after of years of big bank
consolidation. Its full-service product offering is aimed at meeting the
complete banking needs of small- and family-owned businesses, entrepreneurs
and the local New York City community.
"Savoy Bank is proud to bring the great tradition of community banking
back to the heart of New York City. Our founders and senior management -- a
diverse group of women and men, native New Yorkers and first-generation
Americans from more than a dozen nations -- understand the dreams of small
business owners. But we also know the frustrations they face in dealing with
big, bureaucratic banks," said Elena Sisti, Founder and Chairwoman. "At
Savoy, we've created a bank that reflects the entrepreneurial spirit of the
small businesses that drive so much of our city's economy. You can count on
us to listen to our customers and draw upon the strengths of a seasoned and
experienced team of bankers who know that small businesses can define the
character of a block, a neighborhood and a community."
Savoy's top executives have decades of experience at banks large and small
across the New York metropolitan area, including Citibank, Chase Manhattan,
NatWest and numerous community banks. Among Savoy Bank's founders are
prominent New York business owners, professionals, entrepreneurs and community
leaders.
"For too long, the New York City banking landscape has been dominated by
large financial institutions that overlook the needs of smaller businesses,"
said Phillip Sorace, President and Chief Executive Officer of Savoy Bank. "At
Savoy, we take a personal approach to banking. We respect our customers,
their money and their businesses. Unlike big banks, where nickel-and-diming
customers is a way of life, our goal is to fill the need for a financial
institution that understands the market and forges close relationships with
customers. That's why we have created a neighborhood institution with the
ability to customize our services to help our customer's businesses grow."
Savoy Bank's home on Manhattan's West Side, in the heart of America's
entertainment industry, and the neighborhoods the bank will serve across the
boroughs of New York City, reflect the dynamism and strength of the city's
economy, where more than 90,000 businesses employ fewer than 20 people each.
Savoy's neighborhood and adjacent communities are home to hundreds of law
firms, accounting firms, consultancies, real estate and insurance brokers,
non-profit organizations, medical practices, publishing companies, and other
businesses that would benefit from the personalized small business services
offered by a community bank.
Savoy offers a complete array of commercial banking products and services
for businesses and consumers, including no fee business and personal checking
accounts, no fee remote deposit services, no fee cash management, no fee
Internet banking, free ATM access worldwide, deposit and loan products, and
money market and retirement accounts, among others.
"Our city today is as vibrant and diverse as at any time in its history.
We see enormous opportunity here," concluded Sisti. "Within a ten-block
radius of our Broadway banking center alone, we have identified literally
thousands of small businesses that fit our target customer profile."
About Savoy Bank
Savoy Bank is a full-service community bank located in the heart of
Midtown Manhattan. The state-chartered, FDIC-insured commercial bank opened
its first banking office at Broadway at 52nd Street in early 2008. The Bank
is committed to providing a full range of products and superior levels of
service to small- and family-owned businesses, entrepreneurs and the local New
York City community where it operates. The 1675 Broadway banking office is
open Monday through Friday, from 9 a.m. to 6 p.m. and on Saturday from 9 a.m.
to 1 p.m. For more information, please visit www.banksavoy.com.
Contact:
Brad Fennessy, RF|Binder Partners, 212.994.7613
Brad.Fennessy@rfbinder.com
SOURCE Savoy Bank

Brad Fennessy of RF|Binder Partners, +1-212-994-7613,
Brad.Fennessy@rfbinder.com, for Savoy Bank