Northeast Community Bancorp won’t seek taxpayer funds

December

Northeast Community Bancorp Inc. of White Plains said that the bank will not participate in the the U.S. Treasury Department’s Capital Purchase Program that is part of Uncle Sam’s $700 billion financial rescue package for financial instititutions.

The company operates six offices in New York and a loan production office in Wellesley, Mass.

“We already are, and expect to remain for the foreseeable future, well capitalized and currently have no valid need to accept taxpayer funds,” said Kenneth A. Martinek, president and chief executive officer.

This entry was posted on Tuesday, December 2nd, 2008 at 4:05 pm by Jay Loomis.
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