SOURCE: SourceMedia

October 30, 2007 14:43 ET

American Banker to Honor Wainwright Bank Co-Chairman and Founder Bob Glassman With Community Banker of the Year Award

NEW YORK, NY--(Marketwire - October 30, 2007) - The editors of American Banker will present Bob Glassman, co-chairman and co-founder of Wainwright Bank, with its Community Banker of the Year Award at a gala dinner on November 29 at the Pierre Hotel in New York City.

"Wainwright Bank is a powerful example of a bank that does well by doing good," said David Longobardi, editor in chief of American Banker. "It epitomizes how a banking company can operate in support of a set of social or political principles, while also remaining profitable."

Founded in 1987, Wainwright Bank is a leading socially progressive bank headquartered in Boston with assets of nearly $900 million. Glassman, a Vietnam veteran, initiated the Bank's social responsibility agenda by endorsing veteran's rights. The Bank has been an avid supporter of gay rights and over half of its commercial lending portfolio is committed to community development initiatives, including homeless shelters and community heath centers.

While most banks are struggling with credit quality, Wainwright's remains stellar. It has made some $600 million of community development loans without a single charge off and, as of September 30, did not have a single loan past due.

One of the first banks to promote environmental causes, Wainwright offers discounts to developers that use environmentally sound building methods. All of the branches it opened this year have won top awards from Leadership in Energy and Environmental Design (LEED), a nationally accepted benchmark for the design, construction and operation of high performance green buildings. Wainwright offers free web page hosting to all its non-profit clients.

Additionally, Wainwright is a 30 percent owner in Trillium Asset Management, the oldest and largest investment firm specializing in socially responsible investing.

Glassman's award will be among six bestowed on industry leaders at this year's Banker of the Year Awards gala. The others include the Community Banker of the Year Awards for Builder and Performer, Banker of the Year Award, Innovator Award, and Lifetime Achievement Awards.

Award honorees are selected by the editors of American Banker in an independent and journalistic process.

Since the inaugural Banker of the Year Awards dinner and ceremony in 2001, the gala has become the industry's premier event, attracting a "who's who" of lawmakers, regulators and leading executives.

To accompany the awards gala, a special report, "Best in Banking 2007," showcasing the year's most important stories and trends, will be published in the November 29 edition of American Banker.

For information on attending or sponsoring the 2007 Banker of the Year Awards gala, please contact Jessica Yazujian at 212-803-6597.

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