DOCSLIB.ORG

Letterhead of Dime Community Bancorp

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Letterhead of Dime Community Bancorp NOTICE OF 2006 ANNUAL SHAREHOLDERS MEETING AND 2005 ANNUAL REPORT TO SHAREHOLDERS CORPORATE HEADQUARTERS DIRECTORS Dime Community Bancshares, Inc. Vincent F. Palagiano 209 Havemeyer Street Chairman of the Board and Chief Executive officer Brooklyn, NY 11211 Michael P. Devine President and Chief Operating Officer INVESTOR RELATIONS Written inquiry regarding Dime Community Kenneth J. Mahon Bancshares, Inc. should be directed to: Executive Vice President and Chief Financial Officer Kenneth Ceonzo Anthony Bergamo Dime Community Bancshares, Inc. Vice Chairman of MB Real Estate 209 Havemeyer Street George L. Clark, Jr. Brooklyn, NY 11211 President of George L. Clark, Inc. Realtors (718) 782-6200 Steven D. Cohn VISIT US ON THE WEB Managing Partner at Goldberg & Cohn LLP www.dimedirect.com Patrick E. Curtin Senior Partner at Conway Farrell Curtin & Kelly, P.C. DIRECT STOCK PURCHASE PLAN Joseph H. Farrell The Dime Community Bancshares, Inc. Direct Investment Chairman of Conway Farrell Curtin & Kelly, P.C. Program offers a convenient way to purchase or sell shares of the Company's common stock. Please visit our website in order Fred P. Fehrenbach to enroll in the plan or contact our Investor Relations department President of Consolidated Brokerage Corp. and Shell Realty Corp. in writing or by telephone in order to obtain enrollment John J. Flynn information. Self-employed real estate mortgage broker and consultant TRANSFER AGENT AND REGISTRAR Stanley Meisels Inquiries regarding stockholder administration and services Stockbroker with Ryan Beck & Co. and President of should be directed to: Small Business Electronics Investment Corp. Joseph J. Perry Mellon Investor Services Partner at Marcum & Kliegman LLP Newport Office Center VII 480 Washington Boulevard Louis V. Varone Jersey City, NJ 07310 Self-employed real estate mortgeage broker 1-800-851-9677 EXECUTIVE OFFICERS INDEPENDENT AUDITORS Vincent F. Palagiano Deloitte & Touche LLP Chairman of the Board and Chief Executive officer 2 World Financial Center Michael P. Devine New York, NY 10281 President and Chief Operating Officer GENERAL COUNSEL Kenneth J. Mahon Conway Farrell Curtin & Kelly, P.C. Executive Vice President and Chief Financial Officer 63 Wall Street New York, NY 10005-3001 Christopher J. Maher* Executive Vice President and Director of Retail Banking SPECIAL COUNSEL Timothy B. King Thacher Proffitt & Wood Senior Vice President and Chief Investment Officer 2 World Financial Center New York, NY 10281 Michael Pucella Senior Vice President and Chief Accounting Officer * Executive officer of The Dime Savings Bank of Williamsburgh. April 10, 2006 Dear Shareholder: You are cordially invited to attend the Annual Meeting of Shareholders (the "Annual Meeting") of Dime Community Bancshares, Inc. (the "Company"), which will be held on May 18, 2006 at 10:00 a.m. Eastern Time, at Giando on the Water, 400 Kent Avenue, Brooklyn, New York 11211. The attached Notice of the Annual Meeting of Shareholders and Proxy Statement describe the business to be transacted at the Annual Meeting. The Company's Directors and officers, as well as a representative of Deloitte & Touche LLP, the accounting firm appointed by the Audit Committee of the Board of Directors to be the Company's independent auditors for the year ending December 31, 2006, will be present at the Annual Meeting. The Company's Board of Directors has determined that an affirmative vote on each matter to be considered at the Annual Meeting is in the best interests of the Company and its shareholders and unanimously recommends a vote "FOR" each of these matters. Please complete, sign and return the enclosed proxy card promptly, whether or not you plan to attend the Annual Meeting. Your vote is important regardless of the number of shares you own. Voting by proxy will not prevent you from voting in person at the Annual Meeting, but will assure that your vote is counted if you are unable to attend. If you are a shareholder whose shares are not registered in your own name, you will need additional documentation from your record holder to attend and to vote personally at the Annual Meeting. Examples of such documentation include a broker's statement, letter or other document confirming your ownership of the Company's shares. On behalf of our Board of Directors and employees, we thank you for your continued support and hope to see you at the Annual Meeting. Sincerely yours, Vincent F. Palagiano Chairman of the Board and Chief Executive Officer DEAR SHAREHOLDERS: Dime Community Bancshares, Inc., is fast approaching its 10th anniversary as a public company, which will occur on June 26, 2006. It has been an exciting time during which the Company has experienced two acquisitions, three stock splits, a 950% increase in the quarterly cash dividend, and more recently, the lowest interest rates since the 1950’s. But Dime remains a company steeped in the community banking tradition, a tradition founded here in the Brooklyn community of Williamsburg in the 19th Century. Since our founding in April 1864, many New York institutions have come and gone. You might well remember some of the names: The Bowery Savings Bank, Greenwich Savings Bank, Williamsburgh Savings Vincent F. Palagiano Bank, The Lincoln Savings Bank, The Greater New York Savings Bank. Chairman of the Board and CEO Those banks may be gone, but their mission is not: the mission of helping New Yorkers to save and to borrow. Today, your Dime continues to be a financial mainstay in the New York communities it serves. 2005 in Review Earnings per share for 2005 were $1.02, a drop of 26 cents from 2004 EPS of $1.28. Seventeen of the twenty-six cents decline was due to two items. First was a nine-cent restructuring charge incurred in the second quarter when the Company sold $276 million of securities in May 2005 to raise cash, increase liquidity and reduce interest rate risk. Second, there was a large decline in prepayment fee income from the prior year. In 2004, the Company earned $9.8 million of prepayment fee income compared to only $5 million in 2005. That represents an eight-cent loss in per share earnings. Prepayment income has varied widely from year to year depending on interest rate conditions. The remaining decline in earnings was due to the rising cost of deposits. Despite lower fee income and higher short-term rates, the Company’s net interest margin, return on assets and return on equity remain healthy. Net interest margin, for example, only decreased by 22 basis points between December 2004 and December 2005, from 3.00% to 2.78%, respectively, while at the same time the short-term Fed Funds rate rose by 200 basis points. Return on assets was 1.11% for 2005; return on reported equity was 12.65%, and cash return on tangible equity was 16.10%. Cash return on tangible equity is a very important financial ratio for shareholders to watch because it represents the amount of newly created capital that can be used to pay dividends, repurchase shares, or support balance sheet growth. Also in 2005, the Bank originated $574 million of new real estate loans at an average rate of 5.77%. It is welcome news that new loans continue to be added to the portfolio at rates above the embedded portfolio rate of 5.6%. This is a trend we anticipate will continue throughout 2006. Included in total originations, the Bank also loaned over $193 million on commercial properties last year at an average rate of 5.8% and an average loan size of $1.8 million dollars. The average loan-to-value ratio on all commercial loans originated last year was 61%. The commercial real estate loan portfolio grew at a rate of 36% in 2005, and now represents 22% of the total portfolio. We expect to see a similar pattern of growth in 2006. We take a great deal of pride in the credit performance of our loan portfolio, and I think it speaks well of the care and caution that we use when underwriting loans. By way of illustration, Dime originated over $2.6 billion of loans in the past three years alone, and yet at year-end, nonperforming loans represented just 4 basis points on loans, and 3 basis points on assets. This is one of the lowest rates nationwide in the banking industry among bank real estate lenders. As an approved Fannie Mae multifamily seller/servicer, the Bank also sold $89 million of loans to the agency at an average rate of 5½% and average term to repricing of almost 14 years. These are loans the Bank would not have otherwise have made for its customers because of the long duration of their maturities. That is one of the benefits of our relationship with Fannie Mae. Turning to deposits, the Bank experienced deposit outflows of about $295 million last year. Rate competition for deposits was more intense than we expected, and we expected plenty. Because we did not bid aggressively on deposit rates, the proportion of promotional rate accounts in our depositor base fell from 29% of deposits to 23% of deposits. That alone represents more than half of last year’s deposit outflows. As a result, although our cost of deposits rose by 57 basis points year-over-year to 2.2%, it could have been much higher. The $276 million of liquidity raised in May from security sales helped fund the deposit outflows throughout the year. Because the Company did not inflate its volume of low-yielding mortgage assets by increasing originations last year, Total Capital, as a percent of assets, continued to grow. This is to the long-term benefit of our shareholders, because the Company will have the capital available to leverage its growth, when market conditions are more favorable for growth.
Load more

Recommended publications
  • DECEMBER 2005 Center for New York City Law VOLUME 2, NUMBER 11
    CITYLAND DECEMBER 2005 center for new york city law VOLUME 2, NUMBER 11 M1-2 R 6A A R 6 R 6B 8 R A 6 RR6A R 6B A -3 Highlights R6B 4 R 7B C * A 8 R CITY COUNCIL R 6B R6B A 1 3 5t - h S t Council overrides Mayor’s veto .163 4 r A e ee 6 u C t R n A e R6B 7 DOB criticized by Council . .164 v R M1-2D A th R 6B 4 A RR6A6A Olinville, Bronx downzoned . .165 8 R6B R8AR R5B Two down-zonings in SI . .166 A 6 R Prospect Park R 6B R6B R 8B CITY PLANNING COMMISSION 24 th S t High Line garage OK’ed . .166 M1-1D re R5B R et 6 k r A a P t New Brooklyn BID app’d . .167 c 2 e 3 p r s d o t S M r s tr P e e 1 W et - BOARD OF STANDARDS & APPEALS 1 R5B Green-Wood NoHo bldg. OK’ed at 120 ft. .167 Cemetery R5 Nursing home for W.Village . .168 South Park Slope Rezoning used with permission of the New York City Department of City Planning. Bldg. exceeds Bklyn. rezoning . .168 All rights reserved. College Pt. owner withdraws . .169 CITY COUNCIL meeting before the Council’s Sub- LANDMARKS committee on Zoning and Fran- 1867 Chelsea stable to stay . .169 Rezoning chises, Planning Commission SI villa calendared . .170 South Park Slope, Brooklyn Chair Amanda M. Burden referred to the proposal as “emergency zon- Firefighter Memorial gets paths .
    [Show full text]
  • The Preservation and Adaptation of a Financial Architectural Heritage
    University of Pennsylvania ScholarlyCommons Theses (Historic Preservation) Graduate Program in Historic Preservation 1998 The Preservation and Adaptation of a Financial Architectural Heritage William Brenner University of Pennsylvania Follow this and additional works at: https://repository.upenn.edu/hp_theses Part of the Historic Preservation and Conservation Commons Brenner, William, "The Preservation and Adaptation of a Financial Architectural Heritage" (1998). Theses (Historic Preservation). 488. https://repository.upenn.edu/hp_theses/488 Copyright note: Penn School of Design permits distribution and display of this student work by University of Pennsylvania Libraries. Suggested Citation: Brenner, William (1998). The Preservation and Adaptation of a Financial Architectural Heritage. (Masters Thesis). University of Pennsylvania, Philadelphia, PA. This paper is posted at ScholarlyCommons. https://repository.upenn.edu/hp_theses/488 For more information, please contact [email protected]. The Preservation and Adaptation of a Financial Architectural Heritage Disciplines Historic Preservation and Conservation Comments Copyright note: Penn School of Design permits distribution and display of this student work by University of Pennsylvania Libraries. Suggested Citation: Brenner, William (1998). The Preservation and Adaptation of a Financial Architectural Heritage. (Masters Thesis). University of Pennsylvania, Philadelphia, PA. This thesis or dissertation is available at ScholarlyCommons: https://repository.upenn.edu/hp_theses/488 UNIVERSITY^ PENN5YLV^NIA. UBKARIE5 The Preservation and Adaptation of a Financial Architectural Heritage William Brenner A THESIS in Historic Preservation Presented to the Faculties of the University of Pennsylvania in Partial Fulfillment of the Requirements for the Degree of MASTER OF SCIENCE 1998 George E. 'Thomas, Advisor Eric Wm. Allison, Reader Lecturer in Historic Preservation President, Historic District ouncil University of Pennsylvania New York City iuatg) Group Chair Frank G.
    [Show full text]
  • Architecture & Finance
    bulletin Architecture & Finance 2019/20 eabh (The European Association for Banking and Financial History e.V.) Image: Bank of Canada and Museum entrance. 29 Sept 2017. Photo: doublespace bulletin Architecture & Finance 2019/20 www.bankinghistory.org ISSN 2219-0643 bulletin | 2019/20 3 CONTENTS contents Athens to New York 6 The barriers of banking 24 Societe Generale’s architecture in Africa 32 Caixa Geral Depósitos in Brazil: Agência Financial in Rio de Janeiro 35 Bank of Canada: An architectural heritage 39 The Masonry of capitalism 45 L’Hôtel de la Monnaie de Paris: A royal architecture to the service of the monetary process 48 The house of Commerzbank at Pariser Platz in Berlin 56 Deutsche Bundesbank: Regional office in Hesse 60 KfW Group Westarkade: An energy efficient office building 65 Athenian neoclassical residence in the 19th century: A photography collection 68 Dutch functionalism in the tropics: The factory of the Netherlands Trading Society 73 BNP Paribas Asia Pacific campus 79 Headquarters of Banco Santander: The buildings of Buenos Aires, Santiago de Chile and São Paulo 87 Martins Bank head office: Liverpool 1927-32 92 Intended for magnificent business: The enduring legacy of New Court 102 Locations of the Royal Mint 107 Schroders plc 112 The New York Stock Exchange’s 11 Wall Street building 115 KEY TITLE EDITORS SUBMISSIONS bulletin (eabh - The European Carmen Hofmann, eabh All submissions by email Association for Banking and Gabriella Massaglia, eabh EMAIL Financial History) Hanauer Landstrasse 126-128, D-60314 [email protected] Frankfurt am Main, Germany DESIGN TEL Richard McBurney, Grand Creative, LANGUAGE EDITOR +49(0)69 36 50 84 650 www.grand-creative.com Jonathan Ercanbrack, SOAS University Chloe Colchester, Oxford University WEBSITE www.bankinghistory.org bulletin | 2019/20 5 ATHENS TO NEW YORK Athens to New York Carmen Hofmann his article provides the long view of financial architecture reaching from T antiquity to the present day, and focussing on the most important neo-classi- cal financial buildings in New York.
    [Show full text]
  • We Should Disregard International Banking Influence in the Pursuit of Our Congressional Monetary Policy.”
    Presented © January 2011-2017 by Charles Savoie An Initiative to Protect Private Property Rights of American Citizens “A GIGANTIC CONSPIRACY WAS FORMED IN LONDON AND NEW YORK TO DEMONETIZE SILVER” ---Martin Walbert, “The Coming Battle—A Complete History of the National Banking Money Power in the United States” (1899) "A Secret Society gradually absorbing the wealth of the world." --- Last Will & Testament of diamond monopolist Cecil Rhodes “HERE AND EVERYWHERE” ARE YOU INTERESTED IN PROTECTING YOUR OWNERSHIP RIGHTS IN PRECIOUS METALS? THEN PLEASE READ THIS, TAKE WEEKS TO CHECK OUT THE DOCUMENTATION IF YOU DISPUTE IT, AND DO EVERYTHING YOU CAN TO ENCOURAGE THE WIDEST POSSIBLE READERSHIP FOR IT! THIS MEPHISTOPHELES AND HIS ASSOCIATES AND SUCCESSORS MUST BE STOPPED FROM USING THE PRESIDENT TO SEIZE SILVER AND GOLD! (There is no Simon Templar halo over his head!) Ted Butler, the most widely followed silver commentator, has often said to buy and hold physical, because that puts you beyond COMEX rule changes. That’s correct! However, there remains an immeasurably more insidious, far reaching entity that can change rules---Uncle Sam, and he’s tightly in the grasp of the same forces who’ve depressed silver for generations. Uncle Sam nationalized gold and silver in the Franklin Roosevelt administration; this is subject to a repeat! Now that the price can’t be suppressed, what’s next? FORBID OWNERSHIP! You have hours for professional sports and TV talk shows; how about some time for your property rights, without which you can go broke? Whether the excuse cited is North Korea, the Middle East or other, the actual reason is to break us and prevent capital formation on our part! Please read and act on what follows--- ******************************************************************* *** “What an awful thought it is that if we had not lost America, or if even now we could arrange with the present members of the United States Assembly and our House of Commons, the peace of the world is secured for all eternity.
    [Show full text]
  • NYC's Garment District, Past and Future New York Neighborhood
    July 28, 2015 NYC’s Garment District, Past And Future New York Neighborhood Pedestrians were rushing across Fashion Ave in the seconds before the light turned. In the crowd was a sight that has become increasingly rare in NYC’s Garment District: a pullboy, dragging a wheeled clothing rack through the crosswalk. “You don’t see too many of them left; you used to see hundreds,” remarked Eastern Consolidated principal and senior managing director Adelaide Polsinelli. Adelaide would know. A native of Manhattan, she worked in the Garment District while in high school, as a fabric converter. That was in the 1980s, a decade that brought the Manhattan real estate crash, which played a significant role in giving rise to what is now one of Manhattan’s dynamic neighborhoods, Adelaide says. She gave Bisnow a tour of her old (and new) stomping grounds last week. We walked the district under humid, threatening skies, managed to stay dry, spotted only that lone pullboy, and were treated to historical perspectives courtesy of New York Historical Tours’ Kevin Draper, snapped with Adelaide on Seventh Ave. The Garment District wasn’t alway s in Midtown. The fur trade was a key cog in the economy of New York City in the early days of Dutch and English settlement. Furs were extremely popular in Europe at the time, and the forests surrounding Manhattan teemed with game. It was the perfect export for the nascent harbor city, and profits from the trade made many men rich. One of them was John Astor, who used his beaver- derived bank to develop a fortune in real estate and become one of NYC's legendary power brokers.
    [Show full text]
  • (Now Crossland Federal Savings Bank), First Floor Interior
    LandmarksPreseivation Commission March 3, 1992; Designation List 243 LP-1767 GREENWICH SAVINGS BANK (now Crossland Federal Savings Bank), first floor interior consisting of the Broadway entrance vestibule and foyer, the main banking hall including the tellers' cages, and the Sixth Avenue (Avenue of the Americas) entrance vestibule; second floor interior consisting of the upper portion of the main banking hall and the loggia spaces; and the fixtures and interior components of these spaces, including but not limited to, wall surfaces and attached decorative elements; ceiling surfaces including elliptical dome and light diffuser; floor surfaces including mosaic floors cicumscribing tellers' cages; windows; doors; chandeliers and lighting fixtures; decorative ironwork; bronze grilles; columnar screens and attached furnishings; 1352-1362 Broadway, aka 985 Sixth Avenue, Borough of Manhattan. Built 1922-24; architects York & Sawyer. Landmark Site: Borough of Manhattan Tax Map Block 812, Lot 29. On December 12, 1989, the Landmarks Preservation Commission held a public hearing on the proposed designation as an Interior Landmark of the Greenwich Savings Bank, first floor interior consisting of the Broadway entrance vestibule and foyer, the main banking hall including the tellers' cages, and the Avenue of the Americas entrance vestibule; second floor interior consisting of the upper portion of the main banking hall and the loggia spaces; and the fixtures and interior components of these spaces, including but not limited to, wall surfaces and attached decorative elements; ceiling surfaces including elliptical dome and light diffuser; floor surfaces including mosaic floors circumscribing tellers' cages; windows; doors; chandeliers and lighting fixtures; decorative iron work; bronze grilles; columnar screens and attached furnishings and the proposed designation of the related Landmark Site (Item No.
    [Show full text]
  • Boston Symphony Orchestra Concert Programs, Season
    ^V ^^^^^^^^^^^B m * M- NHfc^ET .=5 If— ~ r ^ ^ ^ LiiiooliiCentei (J / incoln Center for the Performing Arts January ' 75 IT LETS YOU INDULGE YOURSELF WHILE STILL BEING SENSIBLE. Until now, if you and comfortably. And elegantly as it looks. It's There are no wanted to indulge your handsomely; the new particularly quiet on the Caprice sort-of- classics desire for luxuriousness in Caprice grille, taillight road, with its radial-tuned Other car companies an automobile, you might assembly and rear window suspension and built-in are currently offering have expected to sacrifice treatment more than meet Quiet Sound insulation to lesser versions of their efficiency. the most demanding ideas get you from place to place traditional top models. This year, you can of luxuriousness. So smoothly and quietly. But there is only one have both improved effi- does the deep, cut-pile Indulge. uppermost Chevrolet. ciency and luxuriousness carpeting which extends New efficiencies. Caprice Classic is upper- in the same automobile: up the lower door panels Caprice Classic for most in quality, in Caprice Classic for 1975. and the available 50/50 '75 is a more sensible auto- luxuriousness and in Lots of reclining front seat. mobile than ever. The new quiet elegance. And for luxuriousness. Indulge. standard engine is a 350-2 1975, Caprice Classic is Caprice Classic trans- Quiet elegance. V8, replacing last year's uppermost in overall ports six adults smoothly Caprice rides as 400-2. And the combina- operating economy com- tion of this new smaller pared to Caprice models o V8 and Chevrolet's new recent years.
    [Show full text]
  • National Register of Historic Places
    National Register of Historic Places Resource Name County Fort Schuyler Club Building Oneida Unadilla Water Works Otsego Smith-Taylor Cabin Suffolk Comstock Hall Tompkins Hough, Franklin B., House Lewis Teviotdale Columbia Brookside Saratoga Lane Cottage Essex Rock Hall Nassau Kingsland Homestead Queens Hancock House Essex Page 1 of 1299 09/26/2021 National Register of Historic Places National Register Date National Register Number Longitude 05/12/2004 03NR05176 -75.23496531 09/04/1992 92NR00343 -75.31922416 09/28/2007 06NR05605 -72.2989632 09/24/1984 90NR02259 -76.47902689 10/15/1966 90NR01194 -75.50064587 10/10/1979 90NR00239 -73.84079851 05/21/1975 90NR02608 -73.85520126 11/06/1992 90NR02930 -74.12239039 11/21/1976 90NR01714 -73.73419318 05/31/1972 90NR01578 -73.82402146 11/15/1988 90NR00485 -73.43458994 Page 2 of 1299 09/26/2021 National Register of Historic Places NYS Municipal New York Zip Latitude Georeference Counties Boundaries Codes 43.10000495 POINT (- 984 1465 625 75.23496531 43.10000495) 42.33690739 POINT (- 897 465 2136 75.31922416 42.33690739) 41.06949826 POINT (- 1016 1647 2179 72.2989632 41.06949826) 42.4492702 POINT (- 709 1787 2181 76.47902689 42.4492702) 43.78834776 POINT (- 619 571 623 75.50064587 43.78834776) 42.15273568 POINT (- 513 970 619 73.84079851 42.15273568) 43.00210318 POINT (- 999 1148 2141 73.85520126 43.00210318) 44.32997931 POINT (- 430 303 2084 74.12239039 44.32997931) 40.60924086 POINT (- 62 1563 2094 73.73419318 40.60924086) 40.76373114 POINT (- 196 824 2137 73.82402146 40.76373114) 43.84878656 POINT (- 420 154 2084 73.43458994 Page 3 of 1299 09/26/2021 National Register of Historic Places Eighth Avenue (14th Regiment) Armory Kings Downtown Gloversville Historic District Fulton Rest Haven Orange Devinne Press Building New York Woodlawn Avenue Row Erie The Wayne and Waldorf Apartments Erie Bateman Hotel Lewis Firemen's Hall Queens Adriance Memorial Library Dutchess Shoecroft, Matthew, House Oswego The Dr.
    [Show full text]
  • GREENWICH SAVINGS BANK (Now Crossland Federal Savings Bank), 1352-1362 Broadway, Aka 985 Sixth Avenue, Borough of Manhattan
    Landmarks Preservation Commission March 3, 1992; Designation List 243 LP-1766 GREENWICH SAVINGS BANK (now Crossland Federal Savings Bank), 1352-1362 Broadway, aka 985 Sixth Avenue, Borough of Manhattan. Built 1922-24; architects York & Sawyer. Landmark Site: Borough of Manhattan Tax Map Block 812, Lot 29. On December 12, 1989, the Landmarks Preservation Commission held a public hearing on the proposed designation as a Landmark of the Greenwich Savings Bank and the proposed designation of the related Landmark Site (Item No. 30).1 The hearing had been duly advertised in accordance with the provisions of law. Two witnesses spoke in favor of designation. There were no speakers in opposition to designation. One letter has been received supporting the designation. The owner of the underlying fee for the property -­ exclusive of the improvements upon it -- has expressed opposition to the designation. DESCRIPTION AND ANALYSIS Summary The Greenwich Savings Bank building, constructed in 1922-24 as the imposing new headquarters to mark this institution's progress from its modest Greenwich Village origins to a prominent midtown location, is one of the most refined examples in the impressive corpus of bank buildings from the firm of Yark & Sawyer. Both architects, initially employed by McKim, Mead & White, carried the senior firm's monumental classicism into a more academic classical architecture. Philip Sawyer's knowledge of ancient Roman prototypes, and his appreciation for the organization which characterizes eighteenth- and nineteenth-century French design and planning is demonstrated in the adaptation of the bank's three facades to the irregular site. The projecting and recessed planes of the colonnades, raised high on the rusticated ground story, unify the bank's three facades while belying the building's skeletal steel frame.
    [Show full text]
  • Leading, Investing and Growing in Asia
    Peter Wong, Chief Executive, HSBC Asia-Pacific Asian Financials 2010 Leading, investing and growing in Asia Title www.hsbc.com Forward-looking statements This presentation and subsequent discussion may contain certain forward-looking statements with respect to the financial condition, results of operations and business of the Group. These forward-looking statements represent the Group’s expectations or beliefs concerning future events and involve known and unknown risks and uncertainty that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Additional detailed information concerning important factors that could cause actual results to differ materially is available in our Annual Report. Past performance cannot be relied on as a guide to future performance. 2 Agenda HSBC Group overview 4 Opportunity 5 HSBC in Asia 12 Mainland China 14 Hong Kong 16 India 17 Other key markets in Asia-Pacific 19 Outlook 20 3 The leading international emerging markets bank Emerging markets leading performance, 2009 US returning to profit Europe stable North America1 (US$bn), 2009 Europe1 (US$bn), 2009 PBT: (4.1) PBT: 6.6 Loans and advances Loans and advances to customers: 206.9 to customers: 329.2 Customer accounts: 149.2 Customer accounts: 349.2 Key emerging market growth engines Latin America1 (US$bn), 2009 Middle East1 (US$bn), 2009 Asia1 (US$bn), 2009 PBT: 1.1 PBT: 0.5 PBT: 9.2 Loans and advances Loans and advances Loans and advances to customers: 47.6 to customers: 22.8 to customers: 179.4 Customer accounts: 72.9 Customer accounts: 32.5 Customer accounts: 409.4 Note: (1) Underlying basis 4 Opportunity At the centre of global trade flows Linking developing and developed markets World trade flows Global footprint2 8,000 properties in 88 4,508.0 bn countries and territories Europe 614.7 bn 475.4 bn 1 546.8 bn 7 North America 0 837 Around 100 million customers .7 .3 b 369.0 bn 1 n 40 b n .3 b n Asia-Pacific 2476.3 bn 2 b n 6 4 7 .
    [Show full text]
  • P.I.L.G.R.I.M.$. Copyright May 2005 Charles Savoie
    P.I.L.G.R.I.M.$. Copyright May 2005 Charles Savoie “The mysterious, super-elite Pilgrim Society.” “The most illustrious world-wide personalities.” “The most distinguished international organization in the world.” “The Pilgrims Society remained hidden until relatively recent years, to identify the apex of power.” (referenced towards end of document) Plundering International Looter$ Gaining Riche$, Injuring Megamillion$ $ecretly = PILGRIMS! If this is your first read on this organization, I suggest you obtain the introductory background first by reading the December 2004 item in the Archives. (For the rest of you, take note---silver and silver mining will be mentioned around 50 times). If you have followed the series to date, I have other disturbing case material with which to inform you. There is a boatload of fascinating material I hope to acquaint you with. And you should be fiercely interested in this Society---the rich families behind central banking---because they are interested in you, to your great detriment! And they do not wish their identities known; else they’d release a membership list. A movie quote (“They Live” 1988)--- “We could be pets, we could be food, but all we really are is livestock!” The Pilgrims could protest, if they chose to, that I class them as a secret society. Actually they don’t meet the criteria for that definition by every measure that exists. No elitist organization appears to meet that standard, but these things are a matter of relative basis. When not one person in 10,000 has ever heard of an organization that dominates their destiny, it’s secret.
    [Show full text]