PCSB Bank is a
bank
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Because ...
based in
Yorktown Heights, New York. It is a wholly owned subsidiary of PCSB Financial Corporation, a
bank holding company.
It has 15
branches.
History
The bank was established in 1871 in
Brewster, New York
Brewster is a village and the principal settlement within the town of Southeast in Putnam County, New York. Its population was 2,390 at the time of the 2010 census. The village, which is the most densely populated portion of the county, was nam ...
as the Putnam County Savings Bank.
[
In April 2015, the bank acquired CMS Bancorp.
In October 2015, the bank changed its name to PCSB Bank.]mutual organization
A mutual organization, or mutual society is an organization (which is often, but not always, a company or business) based on the principle of mutuality and governed by private law. Unlike a true cooperative, members usually do not contribute to ...
to a joint-stock company
A joint-stock company is a business entity in which shares of the company's capital stock, stock can be bought and sold by shareholders. Each shareholder owns company stock in proportion, evidenced by their share (finance), shares (certificates ...
and became a public company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (l ...
via an initial public offering
An initial public offering (IPO) or stock launch is a public offering in which shares of a company are sold to institutional investors and usually also to retail (individual) investors. An IPO is typically underwritten by one or more investment ...
.
In May 2022, The company was acquired by Brookline Bancorp for $313 Million.
References
External links
{{Finance links
, name = PCSB Financial Corporation
, google = PCSB
, yahoo = PCSB
, bloomberg = PCSB:US
, symbol = PCSB
, sec_cik = PCSB
Banks based in New York (state)
Banks established in 1871
Companies listed on the Nasdaq