STATEN ISLAND, NEW YORK--(Marketwire - August 31, 2009) - VSB Bancorp, Inc. (
Mr. Lipschitz, 53, has more than 24 years experience in banking in various financial capacities. Prior to joining the Registrant, he had been CFO for TAOCON, Inc., a construction company, since 2008. Prior to that, he was CFO/Business Manager - Commercial Bank Unit for JPMorgan Chase and held various other positions in JPMorgan Chase from 1984 through 2008. Mr. Lipschitz is a Certified Public Accountant in the states of New York and New Jersey and he is a member of the AICPA, the NYSSCPA and the NJSCPA. Mr. Lipschitz graduated from Ithaca College with a Bachelor of Science in Accounting.
Mr. Branca, VSB Bancorp's and Victory State Bank's President & CEO stated "Jonathan Lipschitz adds a new dimension to our staff. Jonathan fills a key position in the Company and the Bank where he can utilize his expertise in accounting, tax and other financial matters."
VSB Bancorp, Inc. is the one-bank holding company for Victory State Bank. Victory State Bank, a Staten Island based commercial bank, commenced operations on November 17, 1997. The Bank's initial capitalization of $7.0 million was primarily raised in the Staten Island community. The Bancorp's total equity has increased to $24.4 million primarily through the retention of earnings. The Bank operates five full service locations in Staten Island: the main office in Great Kills, and branches on Forest Avenue (West Brighton), Hyatt Street (St. George), Hylan Boulevard (Dongan Hills) and on Bay Street (Rosebank).
Contact Information: Contact Name: Ralph M. Branca President & CEO (718) 979-1100