CEO Message

Greetings from Chairman, President and CEO Steven C. Bush

Since 1863, Apple Bank has been a stable banking presence in New York City and its surrounding communities.  We seek to put the best interests of our customers first and to manage our company prudently and responsibly. 

Commitment

Our customers’ trust, loyalty and support is intrinsic to our success and is never taken for granted. We work to provide high quality products, services, and technology suited to the diverse needs of our customers.  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 will continue to develop and enhance our products and technology to give our customers the resources they need to achieve their financial goals, while protecting the security and privacy of their account information.

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 our customers do and understand their priorities. Apple’s branch network of 79 locations extends from East Hampton to East Harlem and from Staten Island to upper Westchester and Rockland counties.  We are excited to be opening two new locations in Westchester and Rockland Counties in the first half of 2021. Additionally, we are continuing to renovate and upgrade our facilities, including the replacement of our entire network of ATMs, and expanding our online and mobile services for individuals and businesses.

The COVID-19 pandemic forced us to shorten operating hours or close branches from time to time as a result of positive cases among staff members or customers, but almost all of our branches have been open at any given time.  We expect to work our way back toward normal hours as pandemic conditions improve.

Strength

Apple Bank marks its 29th consecutive year of uninterrupted profitability in 2020.  Our prudent financial and risk management has enabled the Bank to remain solidly profitable, with strong credit quality and low levels of non-performing loans, despite the challenges arising from the pandemic.  Our balance sheet is composed of high-quality loans and securities and our capital ratios are in excess of all regulatory requirements. As the second-largest state-chartered savings bank in New York, we have $16.2 billion in assets as of December 31, 2020 and $14.5 billion in deposits.

Community

We have a direct interest in contributing to the quality of life in the neighborhoods we serve. We give back to our communities 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.  Many of our employees volunteer their time and talent in the communities in which they live and work.

Focused on the Future

After 158 years in business, we are 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