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Apple Bank for Savings remained one of the strongest depository institutions in the nation through December 31, 2015. Apple's balance sheet is comprised primarily of high-quality loans and securities, and its capital ratios remain strong. 79% of Apple Bank's loan portfolio is comprised of well-secured mortgage loans on residential, multi-family, and commercial properties in New York City and its suburbs, and government-guaranteed commercial loans. Its $10.1 billion total loan portfolio includes only $3.9 million in non-performing loans. The Bank's careful attention to credit quality has allowed it to remain solidly profitable.
Apple Bank, the second largest state-chartered savings bank in New York, traces its New York origins back to 1863. It operates from 79 full-service branch locations in the greater New York area, including Manhattan, Brooklyn, the Bronx, Queens, Staten Island, Long Island, Westchester and Rockland.
Changes in Equity Capital as of December 31, 2015
I hereby attest that the above information is true and complete.
Louis A. Rawden
Senior Vice President
Chief Financial Officer
*Apple Financial Holdings is the holding company that owns 100% of Apple Bank.
Disclaimer required by Part 350.4 (d) of the FDIC Rules and Regulations: This statement has not been reviewed, or confirmed for accuracy or relevance, by the Federal Deposit Insurance Corporation.