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Warehouse Judgment Devastates NY Bank

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06-13-2006, 06:13 AM

Veronica Corningstone Veronica Corningstone is offline

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Warehouse Judgment Devastates NY Bank

State Bancorp Inc. announced Friday that it has raised $20 million through a line-of-credit and a private subordinated note offering. The moves were made to improve the bank holding company's capital ratios which were devastated by a $74.2 million judgment against it earlier this year.

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