CEO Message

Message from Chairman, President and CEO, Steven C. Bush

In 2023, Apple Bank celebrated its 160th anniversary. Over those years, the Bank has remained a stable, recognizable banking presence in New York City and its surrounding communities. Prudent management of the institution, together with doing our best to put our customers’ interests first and treating each as the only one has allowed us to thrive for a very long time.


Our employees deeply value our customers’ trust, loyalty and support. This is intrinsic to our success and is never taken for granted. We work hard to remain relevant in a very competitive banking environment by providing high quality products and services and investing heavily in internal and customer-facing technology. We deliver our services so customers can bank their way – at a branch, by phone or 24/7 on a desktop or mobile device. We also continue to believe in the importance of neighborhood branches, and we have invested heavily in renovations, upgrades and new locations in contiguous areas, including our first branches in New Jersey. For mid-sized commercial clients, we have expanded our services through the addition of new loan and deposit products.  


Apple Bank has been continuously profitable for over 30 years, with record net income of $121 million in 2023.  Our prudent financial and risk management continue to enable the Bank to remain solidly profitable, with strong credit quality and low levels of non-performing loans, despite the challenges faced by banks arising from the pandemic and rising interest rates. Our balance sheet is comprised of high-quality loans and securities, and our capital ratios are in excess of all regulatory requirements.  As the largest state-chartered savings bank in New York, we have $17.0 billion in assets and $15.0 billion in deposits as of December 31, 2023.


We are dedicated to neighborhood banking in our communities, and our bankers are here to help. They work and live locally, so they face the same challenges and opportunities as our customers and understand their priorities.  Apple Bank’s branch network extends from East Hampton to East Harlem, from Staten Island to upper Westchester and Rockland counties and into New Jersey.  In recent years, we have opened new branches in Westchester and Rockland Counties, Queens, and New Jersey.

We take a direct interest in contributing to the quality of life in the neighborhoods we serve and give back in ways that foster economic development and renewal.  We provide sponsorships and donations to many local and regional organizations.  We partner with community organizations on food drives, financial literacy, education and multicultural programs, with many of our employees volunteering their time and talent in the communities in which they live and work.

Focused on the Future

With over 160 years in business, we remain ready to meet both the challenges and the opportunities to come.  As the banking business becomes more centralized and de-personalized, we look forward to continuing in our own tradition of customer service and personal banking. 

Steven C. Bush
Chairman, President and Chief Executive Officer