FSB Community Bankshares, Inc., incorporated on June 25, 2007, operates as the bank holding company for Fairport Savings Bank (FSB) that operates as a community-oriented retail financial institution in Monroe County, New York. The Bank conducts business from its main office in Fairport, New York and four branches located in Penfield, New York, Irondequoit, New York, Webster, New York, and Perinton, New York. The Company?ÇÖs principal business consists of originating one-to-four-family residential real estate mortgages, home equity loans and lines of credit and to a lesser extent, originations of commercial real estate, multi-family, construction and other consumer loans. The Company attracts retail deposits from the general public in the areas surrounding its main office and branches, offering a variety of deposit products. Through its wholly owned subsidiary, Oakleaf Services Corporation, the Bank offers non-deposit investment products, consisting of annuities, insurance products and mutual funds.
Lending Activities
The Bank offers Residential Mortgages, Construction Financing, Home Equity Loans and Lines of Credit, Home Improvement Loans, Auto or Personal Loans, Overdraft Protection and Commercial Mortgage Loans. Its primary lending area is Monroe, Ontario and Wayne counties. It also makes residential mortgage loans in Livingston, Orleans, Yates, St. Lawrence, Lewis and Jefferson counties. Net loans receivable totaled $177.0 million at December 31, 2013. The Company?ÇÖs primary lending activity is the origination of one-to-four-family residential real estate mortgage loans. It offers conforming and non-conforming, fixed-rate and adjustable-rate residential real estate mortgage loans with maturities of up to 30 years. The Company originates residential, first mortgage loans with the assistance of computer-based underwriting engines licensed from Fannie Mae and/ or Freddie Mac. The Company offers home equity lines of credit, which are primarily secured by a second mortgage on one-to-four-family residences. Multi-family residential loans are secured by rental properties. The Company originates construction loans for the purchase of developed lots and for the construction of single-family residences. Construction loans are offered to individuals for the construction of their personal residences by a qualified builder (construction/permanent loans). Commercial real estate loans are secured by office buildings, mixed use properties, places of worship and other commercial properties. The Company originates adjustable-rate commercial real estate loans with maximum terms of up to 15 years. The Company offers various loans secured by property other than real estate. These loans include automobile, passbook, overdraft protection and unsecured loans.
Investment Activities
The Company?ÇÖs investment securities portfolio totaled $43.3 million at December 31, 2013. The Company?ÇÖs investment portfolio includes state and municipal securities, mortgage-backed securities - residential, United States Government and agency obligations, SBA pools, and other debt securities.
Source of Funds
Deposits are the primary source of funds for the Bank. Total deposits were $180.0 million at December 31, 2013. It includes certificated of deposits and individual retirement accounts. Total borrowings from the Federal Home Loan Bank of New York were $37.0 million at December 31, 2013 as an alternative wholesale funding source.
45 S Main St
The company trades on NASDAQ exchange. The company headquarter is located in New York, NY. The company was established in the 1888.| Ticker | FSBC |
| Long Name | FSB Bancorp, Inc. |
| Short Name | FSB Bancorp |