This would be an extreme situation that could bring about NFB paying additional for short-term dollars than it earned on some long-term assets for example parts of its bond and mortgage portfolios. This sort of a unfavorable spread case would presumably be short term, but during the interim but it could possibly be painful for NFB, and significantly from the banking industry.
Corporate mission and goals The corporate mission and major goal looks to be to establish itself as the leading regional commercial bank inside the tri-state area (New York, New Jersey, and Connecticut).
External Competitive Environment You'll find many international banks headquartered or represented in New York City that are far bigger and have far greater resources than North Fork Bank (NFB). Several of these have powerful retail banking arms. NFB is extremely active during the residential mortgage marketplace that may be historically not an area of emphasis for Citicorp, Bank of New York and Morgan/Chase or most in the other majors in the tri-state area.
Internal operating environment During the presentation made at the 2005 shareholders meeting substantial emphasis was placed on assets per employee and revenue per employee. This implies a very intense work to maintain overhead and particularly personnel price under control. That is clearly a strength. The corollary is that intense management effort to minimize personnel may possibly lead to impersonal or poor buyer service.
How will NFB implement its strategies? The main tool up to this time was the use of acquisitions to produce its size and marketplace position. There's no reason to feel that this can be heading to transform inside the near future. NFB can also be opening de novo branches and is aggressively hiring experienced commercial lending officers.
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