An information technology worker is suing his employer, Great Neck-based Community National Bank, and the bank's Melville-based human resources outsourcing company, for $1 million over overtime wages. Community National Bank employee John Paul Balingit filed a federal lawsuit in late January because he was classified as an "exempt" employee - meaning that he could not earn overtime for working more than 40 hours per week - when he should have been "nonexempt." The bank's attorneys filed a motion to partially dismiss the claims May 18, according to documents online.
There's a new bank on the block in Melville. Great Neck-based Community National Bank has opened its ninth branch, a 3,900-square-foot location at 400 Route 110 in the heart of Melville.
The Grand National winner of the ICBA National Community Bank Service Award is a community bank that had never attempted a service project. Enthusiasm overcame inexperience, and the results brought a town together. First Citizens Bank of Butte (FCB) -- which operates with one retail office, 26 employees and $65 million in assets -- didn't hesitate to help, according to Lindsey Reilly, daughter of FCB president Casey Reilly and the bank's marketing director and compliance officer. It was just their time to step up, she says. The bank went public about the fundraising Fresh Start campaign, and everyone on the bank board had a role to play. The campaign invigorated the community support for the Butte YMCA financially, physically and emotionally, YMCA board member Becky Nicholls says of the...
Great Neck-based Community National Bank on Wednesday reported third-quarter net income rose to $611,000 from $404,000 a year ago as the firm took steps to expand into New York City. The firm said net interest income as of Sept. 30 grew $791,000, or 22 percent, to $4.3 million for the quarter as its net interest margin increased to 3.61 percent.
Boosted by growing deposits and an expanding loan portfolio, Community National Bank reported second quarter net income nearly doubled to $635,000 from $323,000 a year ago as the bank topped $500 million in assets. The Great Neck-based bank, which opened in April 2005, reached $520 million as of the end of the quarter on June 30, up from $475 million a year ago.
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