Empire Bancorp

About Empire Bancorp

Empire Bancorp, Inc. operated as the bank holding company for Empire National Bank, a community-focused institution founded in 2008. The bank was established in Islandia, New York, by a group of local banking professionals and business leaders. Douglas C. Manditch, a veteran of the Long Island banking industry for 54 years, served as the Chairman and CEO from the company's inception, envisioning a bank dedicated to serving the needs of small business owners. Thomas M. Buonaiuto served alongside him as President and Chief Operating Officer.

The institution's business model was centered on traditional, relationship-based community banking. It primarily served the financial needs of small and medium-sized businesses, professionals, nonprofit organizations, municipalities, real estate investors, and individual consumers across Long Island and the greater New York metro area. Empire National Bank focused on building long-term client relationships through high-quality, responsive service. Its revenue was generated through interest on a growing portfolio of loans, funded by a stable base of deposits. By the end of 2012, its total loan portfolio reached $243.7 million. The bank offered a range of services including commercial loans, residential mortgages, and various deposit accounts.

A significant milestone in the company's history was its acquisition by Flushing Financial Corporation, the parent holding company for Flushing Bank. Announced in the fall of 2019, the acquisition was finalized on October 30, 2020, in a deal valued at approximately $85.4 million. The merger was a strategic move for Flushing Financial to expand its presence into the Suffolk County market, incorporating Empire's four banking offices in Islandia, Shirley, Port Jefferson Station, and Mineola. The combination of the two entities created one of the largest community banks on Long Island, with the combined organization holding approximately $8 billion in assets.