SMITHTOWN BANCORP INC history

At the end of 1902 the bank had 8,157 accounts and deposits of $2.35 million.

The next great event in Queens history was the opening of the Queensboro Bridge, linking Long Island City to midtown Manhattan, in 1909.

By 1925 the bank had 22,000 children, attending 27 schools, as depositors.

By 1928 the Long Island Savings Bank had 64,874 depositors and deposits of $51.7 million.

With $63.2 million in deposits in 1939, it ranked 27th among United States savings banks.

A Rego Park branch was opened in 1956.

In 1970 the Long Island Savings Bank had assets of $690.3 million and deposits of $632 million, with 184,113 depositors at the end of the year.

By the end of 1982 it was the largest savings bank on Long Island, and the following year it switched from a state to a federal charter.

The Long Island Savings Bank added, in 1986, another ailing thrift institution, the Flushing Federal Savings & Loan Association.

Long Island Savings, with $5.2 billion in assets and 55 branches, now was the seventh largest mutual savings bank in New York. It slimmed down again, however, in 1993, when it sold branches with deposits of about $950 million to Home Savings of America for an undisclosed sum.

Long Island Bancorp, Inc. is the holding company for The Long Island Savings Bank, FSB, which converted from a mutual to a stock form of organization in 1994.