NY Federal Savings names new mortgage lending head

Real Estate Weekly, April 21, 1993

New York Federal Savings Bank has named Michael E. Staples to the posts of vice president and director of the mortgage department, according to Donald L. Shapiro, president and chief executive officer.

New York Federal is a non-retail institution that concentrates on mortgages for small income-producing properties within a 50-mile radius of Manhattan.

Staples, 33, had been a manager of commercial real estate for Village Bank of Port Chester, New York, which he joined in September 1988. He was responsible there for a loan portfolio of approximately $35 million.

"In his extensive work with small-property owners and his intimate knowledge of their unique problems, Michael has precisely the experience we need," said Shapiro. He will help us grow our loan portfolio safely and profitably."

Staples, who was raised in St. Louis, began his career in New Orleans with Hibernia National Bank, where he completed the credit officer training program. He became an officer and acquired broad experience in a number of disciplines, including portfolio restructuring, before coming north to join the Port Chester bank.

Staples is a graduate of Louisiana State University and completed the American Bankers Association National School of Real Estate Finance program at the University of Wisconsin in Madison. He is a resident of Manhattan.