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Presidential Bank, FSB
Presidential, organized in 1985 and is headquartered in Bethesda, Maryland. A federally chartered stock savings bank, Presidential is primarily a single-family mortgage lender offering a variety of residential mortgage loan products including fixed and adjustable rate mortgage loans, construction and construction-permanent loans, Federal Housing Administration/Veterans Affairs ("FHA/VA") loans, jumbo loans, home improvement loans, and high loan-to-value ratio loans. Presidential also offers consumer loans, commercial loans including multifamily residential loans, single-family investment property loans, commercial real estate loans, business assets loans, homebuilder construction loans, and equipment leases.
| President for the Washington Metro Region |
A. Bruce Cleveland
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| Total Assets |
$28.6 Million for the District of Columbia (as of December 31, 2002)
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| Total Deposits |
$20.4 Million for the District of Columbia (as of December 31, 2002)
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| Branches |
One
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| ATMs |
One
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| CRA Rating |
Outstanding (as of June 30, 2003)
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| CRA Statement |
Presidential's loan-to-deposit ratio is fully acceptable, but does not adequately reflect their strong commitment to mortgage lending. Presidential sells the vast majority of its loan production and has an exceptionally strong loan market share in relation to its size; Presidential's high level of multifamily community development lending was noted as a significant contribution to the housing needs of low- and moderate-income individuals in the assessment area.
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Primary Focus
of CRA Activity |
Presidential's primary focus is on multifamily lending in the District of Columbia.
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