Quontic Bank
Quontic is a U.S.-based bank headquartered in Manhattan, New York City. Quontic has additional locations in Astoria, New York; Melville, New York; Flushing, New York; and Miami, Florida.[1] Though the bank offers traditional branch, in-person banking, it has gained media attention for its mobile banking[2] app, home loans[3][4][5][6][7] and reverse mortgages.[8][9]
Type | Private company |
---|---|
Industry | Banking |
Founded | Great Neck, New York, USA 2009 |
Headquarters | Manhattan, New York City, New York, United States |
Key people | Steven Schnall (CEO) |
Products | Retail Banking Commercial Banking Mortgage loan Reverse mortgage |
Total assets | US$ 1 bllion (2020) |
Number of employees | 220 |
Website | www |
History
In late 2009, real estate developer and entrepreneur Steven Schnall bought Golden First Bank; a small, troubled bank in Great Neck, New York with $24 million in assets. Terms of the sale allowed Schnall to buy the bank with a clean balance sheet.[10] Schnall assembled a new team, injected fresh capital, and renamed it "Quontic Bank."[11] In March 2011, Quontic opened a second branch in the Astoria, Queens neighborhood of New York City[12] Later in 2011, it shuttered the Great Neck location and moved its headquarters to Astoria.[13] Since its humble beginnings, Quontic has relocated its headquarters to Manhattan, New York, in Rockefeller Plaza. Quontic continues to operate a bank branch in Astoria.[14] Though Quontic had expanded its offices to states such as Georgia, New Jersey, and Massachusetts, it now has locations in just 2 states: Florida and New York.
Locations
New York
Quontic Bank was founded in New York and headquartered in the Astoria, Queens neighborhood of New York City. The Astoria location has a full-service branch and home mortgage office, which has gained media attention for its lending to Queens' large immigrant community.[15]
Quontic Bank operated a home mortgage office in Jericho, Long Island before moving to Melville in October 2016.[16][17][18][19]
Florida
Quontic Bank operates a home mortgage office in Coral Gables, a city southwest of Downtown Miami.
References
- "Quontic Bank locations".
- Ansari, Aeman. "Toronto-based Sensibill expands in the US with Quontic Bank partnership." BetaKit. November 28, 2017.
- Olick, Diana. "Bank requires few mortgage documents: Seems like housing deja vu." CNBC. June 7, 2016.
- Barnard, Patrick. "Return Of the ‘Low Doc’ loan is nothing to fear." MortgageOrb. June 8, 2016.
- Solomont, E.B.. "The death of the all-cash Chinese buyer – and what it means for NYC banks." The Real Deal. March 27, 2017.
- Bockmann, Rich. "I’m too sexy for this … loan?" The Real Deal. April 1, 2017.
- Nelson, Lee. "No doc mortgage: What’s available now." The Mortgage Reports. June 15, 2017.
- Spanko, Alex. "Reverse mortgages start at the kitchen table, but scaling proves hard." Reverse Mortgage Daily. February 27, 2017.
- Spanko, Alex. "Reverse mortgage endorsement pattern continues with July drop." Reverse Mortgage Daily. September 12, 2017.
- Smith, Andrew. "Despite shaky economy, some see opportunity for new banks." Newsday. December 19, 2009.
- Tennery, Amy. "NY Mortgage Trust founder launches bank." The Real Deal. November 24, 2009.
- Doda, Bob. "Quontic Bank coming to Queens." Queens Courier. March 9, 2011.
- Schnoonover, Jessie."Broadway welcomes Starbucks, Quontic Bank." Queens Gazette. April 13, 2011.
- Rios, Emily. "Banking on Astoria's small businesses." We Heart Astoria. March 21, 2017.
- Cortese, Amy. "The Queens bank growing with the city's working-class families." Crain's New York Business. November 8, 2017.
- Winzelberg, David. "Bank moves home loan offices to Melville." Long Island Business News. October 4, 2016.
- McAtee, Paige. "Bank Upgrades Offices to Melville." Half Hollow Hills Patch. October 4, 2016.
- Reich-Hale, David. "Quontic Bank plans to double staff at new Melville office." Newsday. October 10, 2016.
- Law, Janee. "Bank relocates to Route 110 corridor." Long Islander News. October 13, 2016.