First Central Saving Bank

First Central Saving Bank

Community bank delivering personalized local service

Overview

First Central Saving Bank is a community bank offering personal banking services and products such as deposit accounts and loans through a local branch network in New York. Customers engage with nearby staff for routine banking, loans, and financial advice, with decisions made locally to fit individual and business needs. It differentiates itself by providing old-fashioned, personalized service and local decision-making, knowing customers by name across its NYC-area branches and Glen Cove. Its goal is to fill a void in banking by delivering friendly, face-to-face service and to actively support local communities and economic growth.

About First Central Saving Bank

Simplify's Rating
Why First Central Saving Bank is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Financial Services

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

Glen Cove, New York

Founded

1999

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Simplify's Take

What believers are saying

  • July 22, 2026 net income reached $2.3 million, up from $1.6 million.
  • April 29, 2026 first-quarter earnings rose to $2.5 million, with 26-basis-point margin expansion.
  • June 2026 leadership additions in Astoria deepen business development across high-density Queens markets.

What critics are saying

  • June 1, 2026 retirement of chief credit officer Kenneth Sapanski strains underwriting continuity.
  • The 2025 Duncan ADA website lawsuit exposes FCSB to compliance costs and reputation damage.
  • Heavy reliance on non-conforming residential loan sales ties earnings to a narrow market niche.

What makes First Central Saving Bank unique

  • May 6, 2026 reorganization created First Central Bancorp, preserving local control.
  • FCSB targets Queens, Nassau, and Suffolk with eight neighborhood branches and personal bankers.
  • July 22, 2026 results show 3.63% net interest margin and disciplined deposit growth.

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Company News

Queens Courier
Jul 17th, 2026
First Central Savings Bank Astoria branches announce new vice president and business development officer.

First Central Savings Bank Astoria branches announce new vice president and business development officer. First Central Savings Bank announced that Maria Constantatos has been appointed vice president and business development officer of the Astoria branches, located at 35-01 30th Ave. and 37-28 Ditmars Blvd. An Astoria resident with deep roots in the community, Constantatos will work with local businesses and consumer clients, assisting with their specialized banking needs, including business banking services, lending guidance and access to modern financial products that support long-term growth. "My focus has always been helping people in the community. I'm committed to being a resource for both businesses and consumers as they navigate their financial needs," Constantatos said. "Astoria is my home, and helping people move forward financially is what drives me. I'm honored to support individuals, families and businesses as they work toward their goals." Her approach with clients reflects First Central Savings Bank's belief that serving the community extends to building relationships, giving guidance and being present when people are in need of financial literacy and support. Audio Player The appointment of Constantatos to the Astoria team is in line with First Central Savings Bank's mission of delivering personal and local banking, backed by trusted expertise in deposits, loans and business banking. I was born and raised on Long Island and reside in Bayside. Graduated Cum Laude from Hofstra University. Big Mets, Jets and Islanders fan. All comments are subject to our Community Guidelines. Schneps Media does not endorse the views shared by readers in our comment sections.

The Manila Times
Jun 1st, 2026
First Central Savings Bank announces retirement of Senior Executive VP Kenneth Sapanski.

First Central Savings Bank announces retirement of Senior Executive VP Kenneth Sapanski. By GlobeNewswire June 2, 2026 GLEN COVE, N.Y., June 01, 2026 (GLOBE NEWSWIRE) - Joseph Pistilli, Executive Chairman of the Board, of First Central Savings Bank (the "Bank") today announces the retirement of Kenneth Sapanski, Senior Executive VP Chief Credit Officer, effective June 5, 2026, concluding a distinguished banking career of over 45 years. Since joining First Central Savings Bank in 2019, Kenneth has played a pivotal role in the Bank's growth and success. Under his leadership, the organization achieved numerous milestones, including over $1.8 billion in residential loan originations and superior financial performance. "Kenneth has been an exceptional leader, mentor, and advocate for our employees, customers, and shareholders. We are deeply grateful for Ken's dedication and contributions to the Bank. Please join me in thanking Kenneth for his years of service and in wishing him a rewarding and fulfilling retirement," said Chairman Joseph Pistilli. "It has been an honor to serve alongside such a talented colleague and friend who has contributed so significantly to the success of First Central Savings Bank. I am so proud of what Kenneth, and I have accomplished together since joining the management team in 2019. We faced numerous challenges in creating a new vision for First Central Savings Bank, but we met these challenges head on which has significantly benefited all of our employees and shareholders," said President Paul Hagan. "It is a privilege to end my career with such a great group of people who I consider to be some of the finest individuals with which I have ever worked. I will miss the camaraderie and the financial success that we shared during the past 7 years. I leave with extraordinary pride in what we achieved and with full confidence the Bank is exceptionally well positioned for continued strength and success in the years ahead," said Senior Executive VP Kenneth Sapanski. "To ensure a smooth transition, EVP Michelle Socias will assume the role of SEVP, Director of Mortgage Banking and SVP John Cetta assuming the role of EVP Chief Credit Officer. Michelle and John will bring extensive mortgage banking and credit experience and are well positioned to continue advancing the Bank's strategic direction. We wish Michelle and John much success in their new roles," said President Paul Hagan. About First Central Savings Bank First Central Savings Bank is a New York chartered savings bank headquartered in Glen Cove, New York with nine full-service branches in Queens, Nassau, and Suffolk Counties, New York. Established in 1999, the Bank is a locally owned and operated community bank that offers personal and business banking products and services responsive to local needs. For more information, see www.firstcentralsavings.com. Ray Ciccone EVP Chief Financial Officer 516-399-6071 [email protected]

Blank Slate Media
Jun 14th, 2024
Matt Nartowicz joins First Central Savings Bank

First Central Savings Bank has announced that Matt Nartowicz has joined the company as a business development officer with a long history in business banking, commercial and residential lending, and customer service.

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