Brooklyn Federal Bancorp Inc.

• Public
• US

Dow Jones Description

Brooklyn Federal Savings Bank was chartered in March, 1887 as the Brooklyn City Savings and Loan Association located at 91 Court Street in the City of Brooklyn. Its purpose was to promote thrift and home ownership to the people in the downtown section of the city. In 1935, it was the first Brooklyn based institution to receive a Federal charter and its name was changed to Brooklyn Federal Savings and Loan Association. In May of 1960, it opened the Kings Bay branch located at 3780 Nostrand Avenue in the Sheepshead Bay area of Brooklyn. This location was chosen because this community was lacking basic financial services. In 1965, the Bank purchased a six-story office building located at 81 Court Street, Brooklyn. After refurbishing the building, in January 1966, the Bank relocated its main office to the new location. In September of 1973, the Wantagh branch was opened at 1164 Wantagh Avenue in the Cherrywood Shopping Center in Wantagh, Long Island. In November 1999, the Islandia branch was opened in the Islandia Shopping Center. In May of 2008, the Commack branch was opened at 1174 Jericho Turnpike in Commack, Long Island. This is the Bank's fifth branch and first stand-alone branch, which includes a drive-up window and a drive-up ATM machine. These suburban locations were chosen in an effort to diversify the Bank's customer base. It was believed that Brooklyn Federal would have a high recognition rate among suburban residents, most of who were transplanted from Brooklyn. ...

President & CEORichard A. Kielty

Number of Employees 71

Contact Information

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NAICS Code Offices of Bank Holding Companies: 551111