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Article: Five Star plans new push for growth.
- Article from:
- The Buffalo News (Buffalo, NY)
- Article date:
- May 3, 2007
CopyrightCOPYRIGHT 2007 The Buffalo News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Jonathan D. Epstein
May 3--WARSAW -- Five Star Bank is back on the hunt for new deposits and loans, its top executive told shareholders Wednesday, after more than a year of successful reorganizing to fix past problems.
The subsidiary of Warsawbased Financial Institutions wants to grow its loan business by more than $300 million over two to four years, cautiously rebuilding its balance sheet by replacing loweryielding investment securities over time.
That depends on improvement in the regional economy and how well the bank competes, but CEO Peter G. Humphrey said he believes the growth is achievable, even without adding assets. That's ...