The man who police say robbed a bank in Point Pleasant Borough on Sunday morning and fled on a bicycle has been arrested. David D. Mitchell, 31, of Brick, was taken into custody by Spring Lake police, Point Pleasant police said. Additional details about his arrest were not immediately available. State moves to detain man charged in 2 bank robberies in 4 days Mitchell walked into TD Bank on Bridge Avenue at 11:15 a.m. and passed a teller a note demanding money, police said. He then fled on a bicycle later found in the woods near the bank, police said. On Monday night, police issued a warrant for his arrest. Convicted of robbing Ocean First Bank in Brick in 2009, Mitchell was paroled in 2015, according to records. Two weeks later, he was in back in the state prison system after violating the terms of his parole. He was released in January. Jeff Goldman may be reached at [email protected] Follow him on Twitter @JeffSGoldman. … [Read more...] about Jersey Shore bank robber who fled on getaway bicycle arrested, cops say
Police are searching for a man they say robbed a bank Sunday morning on Bridge Avenue in Point Pleasant Borough. The bank robber rode his bicycle to the TD Bank on Bridge Avenue just after 11 a.m., handed the teller a note and demanded money, according to the Point Pleasant Borough Police Department. After the teller handed him the cash, the man fled the bank on his bike westbound on Bridge Avenue, police said. The bike was later discovered in the woods west of the bank. Police did not say how much money the man allegedly stole from the bank. He also didn't show the teller a weapon, according to police. He is described as a white male in his late 20s or early 30s, is approximately 5 feet 8 inches tall and has short, blond hair. The man has a tattoo on the left side of his neck. Police asked anyone with information to contact the Point Pleasant Police Department at 732-892-0060 and ask for Detective Joseph Hynes. Information can also be reported through the police … [Read more...] about Bicycle-riding bandit robbed Jersey Shore bank
Where will you be working on March 29, 2028? If Jeffrey M. Werdein is still with Lake Shore Savings Bank on that date, he'll get a lump-sum payment of $1.4 million. The idea is go give Werdein, the executive vice president of Lake Shore's commercial division, an incentive to keep working at the Dunkirk-based bank. It's an unusually long deal, particularly for a smaller bank like Lake Shore. The bank has 11 branches in Erie and Chautauqua counties and had profits of $3.4 million last year. By the time the retention deal expires, two more presidential elections and four more Olympic Games will have taken place. Tom Brady might even be retired. But Lake Shore has emphasized growing its commercial lending business, which Werdein oversees. "That was the intent of the hire and it's definitely materialized, and we're recognizing the fact that it's a critical part of our bank and very important to have great leadership in that area," … [Read more...] about Lake Shore Bank executive’s 10-year incentive to stay: $1.4 million
For decades, bank branches were built to have a fortress-like look and feel.All-brick or concrete exteriors, few or heavily tinted windows, teller counters separating customers from employees.“Some of the old styles were designed to intimidate — supposed to look big and rugged and sturdy and safe, like bombs could go off and your money would still be safe,” said bank consultant Bob Meara. “That’s not the design philosophy anymore.”Now, Meara said, the issue for bankers is, “How do we make it welcoming and get customers to be engaged right when they walk in?’”For some, that has meant a more casual atmosphere — bankers in polo shirts, someone near the door to act as a virtual host.Brookfield-based North Shore Bank is taking it a step further, creating an environment that reflects customers who are used to FaceTime and open-design spaces.The bank has been building cutting-edge branches to replace dated ones located … [Read more...] about North Shore Bank ditches ‘fortresses’ in favor of small, open-design branches with new technology
Lake Shore Bancorp finished the year with more than $500 million in assets for the first time in its history. The Dunkirk-based parent of Lake Shore Bank reported $519 million in assets at the end of 2017, compared to $489 million a year ago. Its fourth-quarter profits soared to $580,000, from $140,000 a year earlier. A big factor was the bank's $755,000 decrease in provision for loan losses. Lake Shore's net interest income rose $350,000. But the bank also recorded a $565,000 increase in income tax expense and a $102,000 increase in non-interest expense. For all of 2017, Lake Shore earned $3.4 million, down from $3.5 million the year before. The bank ranked No. 9 in Buffalo Niagara deposit market share last year, according to the Federal Deposit Insurance Corp. … [Read more...] about Lake Shore Bank finishes year above $500 million in assets
SHOREWOOD - North Shore Bank recently broke ground on a new branch at 4060 N. Oakland Ave. The bank is expected to open in spring 2018.The new bank building will take the place of a large white building built by a church in 1924. That building, which was demolished earlier this year, was sold to North Shore Bank by Shorewood Press owner Noah Christensen, who said the building was difficult to navigate and expensive to maintain.Shorewood Press has since relocated to the former Mike Crivello Camera Center at 1700 E. Capitol Drive. Robert Laurence Hair Studio, which operated in the same building as Shorewood Press for 23 years, opened a new salon this summer at 2624 N. Downer Ave. More: 92-year-old Shorewood building will be torn down to make way for North Shore Bank building When the new North Shore Bank opens in spring 2018, North Shore Bank plans to close its existing Shorewood branches at 4414 N. Oakland Ave. and 3970 N. Oakland Ave.Susan Doyle, senior vice … [Read more...] about North Shore Bank starts construction on new Shorewood branch
Banks are lending. Home prices are rising. Foreclosures are falling. But New Jersey bankers aren't convinced that the Garden State is returning to prosperity, according to a survey released Friday.While 39 percent of bankers said the health of the U.S. economy was good, just 12.2 percent said the same about New Jersey's economy, the survey found."I think for New Jersey it's been an improvement, but a little more guarded (than the nation)," said John McWeeney, president and chief executive officer of the New Jersey Bankers Association.The trade group teamed up with the Edward J. Bloustein School of Planning and Public Policy at Rutgers University on its fifth annual survey of New Jersey bankers.The report was released as New Jersey's job market in 2015 showed signs of life; preliminary figures show it added nearly 65,000 jobs, its best year since 2000. And its economy is expected to grow much stronger than the U.S. over the next six months, according to a report by the … [Read more...] about Shore banks make money; why are they nervous?
The changeover is complete.M&T Bank has taken over Hudson City Savings Bank – and changed its signs. It gives the Buffalo, New York-based company 21 branches and the fifth-most deposits in Monmouth and Ocean counties. And, initially valued at $3.7 billion, it completes the biggest bank merger at the Shore since the recession more than seven years ago.The result: M&T has $123 billion in assets and 800 branches stretching from upstate New York to Richmond, Virginia.And Shore-area consumers might be wondering, who are these guys, anyway? MORE: M&T, Hudson City move to finalize mergerA look: What took so long?M&T announced its plan to merge with Paramus-based Hudson City in August 2012, but it didn't get regulatory approval until late last year.The holdup: The Federal Reserve Bank said M&T needed to improve its oversight. The bank in 2014 was issued an enforcement action by the Consumer Financial Protection Bureau for using what the agency said … [Read more...] about M&T Bank comes to the Shore: Who are they?
A former banker who blew the whistle on thousands of secret bank accounts rich Americans held at Swiss giant UBS claimed Thursday some U.S. politicians also kept off-shore accounts with the bank. "We had an office in Washington that we all referred to as the PEP office - for 'Politically Exposed People,'" Bradley Birkenfeld said. He was speaking by phone - on tax day, no less - from Schuylkill County federal prison in Pennsylvania, where he is serving a 40-month sentence for his role in the tax evasion scheme. "Only top managers from the bank knew the names of the political clients," Birkenfeld said. Executives from the bank's U.S. subsidiary, UBS America, he added, helped promote those off-shore accounts through a New York "referral desk" that steered U.S. clients to their Swiss colleagues, and through dozens of high society events that the U.S. subsidiary often sponsored. "We have no knowledge of this allegation," Karina Byrne, a spokeswoman for the Swiss bank's U.S. … [Read more...] about Whistleblower Bradley Birkenfeld: Some U.S. pols kept off-shore accounts with UBS
Two suspects were arrested in a Fox Point bank robbery on Saturday after crashing their car in Mequon and fleeing on foot.According to Fox Point Police, officers were notified of a holdup alarm at North Shore Bank, 600 E. Green Tree Road, about 11:30 a.m.Two subjects fled the bank and were pursued by officers from several North Shore departments. They crashed their vehicle in Mequon and were arrested after a brief foot pursuit, the department said on its Facebook page. It said all money taken in the holdup was recovered at the scene.No other information was provided. … [Read more...] about Two suspects nabbed in Fox Point bank robbery Saturday