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OURLIC VIDEO CONVERSATION: Steven Schnall, CEO; and Michael Serao, Regional VP of Quontic Bank Discuss its Formation, the Bank's Future, and its Role in the Community.

In an era of high banking regulation, Quontic is a bank that will surprise you with its "go the extra mile" customer service commitment.

Steven Schnall, Founder and CEO of Quontic Bank.   Michael Serao; Regional Vice President, Quontic Bank   Quontic Bank, Broadway at 31st Street, Astoria     Full video coverage and follow up Q&A are available in the left column in 2 segments of approximately three to five minutes each. steven_schnall_quontic_bank_20120822 michael_serao_quontic_bank_20120822

Astoria, NY August 22, 2012 - Not many people in life are able to start a new bank. The odds of that happening during the period from 2008 through 2011 were slim because of the Recession and FInancial Crisis that brought many areas of growth and development to a halt.  In addition, new levels of regulation were being imposed on Community Bank and many other financial institutions.   It was a time when banks were failing to meet asset ratios, and were being forced to merge in order to survive. Quontic Bank is an exception. Quontic Bank is a new community bank founded in 2009.  Quontic Founder and CEO, Seven Schnall, is an entrepreneur who was not daunted by the prospect of opening a bank. He was comfortable with the risk. He was confident the decision was right because he knew he could start the bank with conservative, but flexible, lending policies. After all, it had a solid balance sheet from the start, and he could carefully manage the loan portfolio at a time when many other banks could not make loans due to existing portfolios that were underperforming. Quontic Bank's first branch was opened in Great Neck. It's second branch, located on Broadway at 31st Street is actively involved in the Long Island City and Astoria market with both business customers and residential accounts. The bank has been drawing attention because it is growing in all key areas of depositers, business loan accounts, and mortgages.  OurLIC met with Steven Schnall, Founder and CEO, and Michael Serao, Regional Vice President to learn about Quontic Bank and their vision for its future. Serao's has a career history in Astoria banking as well as community service organizations.  He is a member of Community Board #1 and on the Board many local organizations. This OurLIC article contains a VIDEO CONVERSATION with both Schnall and Serao, and we think it presents a good picture of this entrepreneurial, community bank.  Watch here for more summary HIGHLIGHTS: HIGHLIGHTS     Steven Schnall, Founder and CEO of Quontic Bank. Michael Serao; Regional Vice President, Quontic Bank Quontic Bank, Broadway at 31st Street, Astoria

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