TITLE

State Bancorp Tanks on News of Verdict

AUTHOR(S)
Reosti, John
PUB. DATE
February 2006
SOURCE
American Banker;2/1/2006, Vol. 171 Issue 21, p20
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that State Bancorp Inc.'s share price plummeted more nearly 17% Tuesday, after a Long Island jury found the Jericho, N.Y., company liable for $44 million of damages in a 4-year-old fraud case. The plaintiff, HSA Residential Mortgage Services of Texas, claimed that the $1.5 billion-asset State Bancorp helped a depositor, Island Mortgage Network Inc., misappropriate millions of dollars that HSA had lent it.
ACCESSION #
19630382

 

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