MONTGOMERY, N.Y. (May 7, 2012) – Walden Savings Bank is proud to announce the appointment of Vice President Commercial Loans Robert E. Ambrose to The Community Preservation Corporation (CPC) Hudson Valley Mortgage Committee.
“Bob is a great fit for this position,” said Derrik R. Wynkoop, president and CEO of Walden Savings Bank. “He has excelled in his position at Walden Savings Bank, and his commercial loan experience will prove to be a great asset to The Community Preservation Corporation as they continue to expand.”
Ambrose has been involved in over $800 million in commercial lending for a combination of large regional banks and community banks in the Hudson Valley in his 25 years in banking. Since 2003, he has managed and developed Walden Savings Bank’s Commercial Lending Department and has grown the loan portfolio from $12 million to $149 million and the business services staff from one to seven employees.
Rafael Cestero, president and CEO at CPC, added, “Since 1989, CPC’s Hudson Valley Mortgage Committee has played a critical role in financing more than $1 billion and nearly 15,000 units throughout Hudson Valley. These projects have included low-income, senior and special needs housing, and enhanced the lives of thousands of families. Robert’s expertise in community banking and commercial lending make him a valuable asset for the Committee, and we welcome him to the CPC family.”
The Community Preservation Corporation is a not-for-profit mortgage lender that finances residential multifamily development throughout New York and New Jersey. Since its founding in 1974, CPC has invested more than $7.6 billion in nearly 140,000 units of housing. The Hudson Valley Mortgage Committee is charged with approving CPC commercial loans in the region.
About Walden Savings Bank
Walden Savings Bank, established in 1872, is a federal chartered mutual savings bank headquartered in Montgomery, New York. With a total of eleven full-service branches serving Orange and Ulster Counties, the bank’s progressive style of community banking provides products that cater to both the individual and the growing mid-size business. To learn more about the Bank and its products and services, visit their website at www.waldensavingsbank.com .
