Empire State Bank

What Empire State Bank does

Empire State Bank is a state-chartered, FDIC-insured community bank founded in June 2004, headquartered at 1441 South Avenue, Staten Island, New York, and operating as a subsidiary of ES Bancshares, Inc., which is publicly traded on the OTCQX Best Market (ticker EMPK). The bank operates six banking centers across Staten Island and Brooklyn and serves small businesses and individual consumers in the New York metro area and Hudson Valley region. The product portfolio spans deposit products (Free Small Business Checking, Commercial Checking Plus, Business Interest Checking, Business Savings, Business Money Market, Personal Checking, Personal Savings, Money Market, CDs and IRAs), consumer and commercial lending (Business Loans, SBA Financing, Family Investment Property loans, Commercial Real Estate), and cash management services (ACH/wire with DIGIPASS soft-token authentication, remote deposit capture, positive pay, escrow management, and digital wallet). Niche sub-brands include EDGE Concierge Business Banking (a premium VIP business segment) and Attorney Advantage Banking.

The technology stack is a traditional community-banking platform: an internet banking portal, an ESB Mobile App on iOS and Android, Zelle for P2P payments, and integrations with Quicken and QuickBooks for accounting aggregation. In May 2026 the bank executed a major platform upgrade consolidating Personal and Business banking into a single login and one mobile app, replacing token+PIN with one-time passcode authentication and migrating to a DIGIPASS soft-token app. Extended FDIC insurance is delivered through a partnership with IntraFi Network (ICS and CDARS), and the bank operates as a regulated depository institution under the New York State Department of Financial Services and the Federal Reserve Bank of New York (the latter issuing a CRA Performance Evaluation in March 2024).

The business model is classic community-banking net interest income plus fee income: interest rate spreads on commercial real estate, business, SBA, and consumer loans fund the bulk of revenue, supplemented by deposit and service fees (monthly account charges, ATM, wire, and treasury management fees) and non-interest income from cash management and remote deposit services. As of Q1 2026 the bank held $643.7M in total assets and $526.7M in deposits, reported net interest margin of 3.06% (up 29 bps), and net income of $1.1M ($0.16 per diluted share), with book value per share of $7.50 marking the eighth consecutive quarter of growth.

Name

Empire State Bank

Legal name

Empire State Bank

Website

https://esbna.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

51–100 employees

Short description

Empire State Bank is a community bank founded in 2004, operating six branches in Staten Island and Brooklyn, New York. It provides deposit, lending, and digital banking products to small businesses and consumers in the New York metro and Hudson Valley, with $643.7M in total assets.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

akta.pro secondary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking services
• Business lending products
• Consumer deposit accounts
• Cash management solutions
• Commercial real estate loans

Headquarters

HQ city

Newburgh

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Interest Income: Traditional banking revenue from interest rate spreads on loans and deposits, including commercial real estate loans, business loans, SBA financing, and consumer lending products.
2. Deposit and Service Fees: Monthly service charges, ATM fees, wire transfer fees, and other banking service fees from both business and personal accounts.
3. Non-interest Income: Income from cash management services, remote deposit capture, and other business banking services.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Empire State Bank is a community-oriented bank that accepts deposits and originates loans for small businesses and individual consumers in the New York metro area and Hudson Valley region. Its core offerings include business and personal checking, savings, money market, CDs, and IRAs, complemented by business lending (SBA, commercial real estate, family investment property), cash management (ACH, wire, positive pay, remote deposit), and digital banking via online and mobile channels. Extended FDIC insurance is provided through the IntraFi ICS and CDARS networks.

Product overview

Empire State Bank is a community-oriented bank offering a unified suite of deposit, lending, and digital banking products. The core product portfolio includes multiple checking and savings accounts for both business and personal customers (Free Small Business Checking, Commercial Checking Plus, Business Interest Checking, Business Savings, Business Money Market, Personal Checking, Personal Savings, CDs & IRAs). Digital banking is delivered through Online Banking and Mobile Banking (ESB Mobile App). Business services include Cash Management, Remote Deposit, Escrow Management, and Digital Wallet. Specialized offerings include EDGE Concierge Business Banking (premium VIP service) and Attorney Advantage Banking. Deposit protection is enhanced through Extended FDIC Insurance Programs (ICS and CDARS). Lending products span Business Loans, SBA Financing, Family Investment Property, and Commercial Real Estate. In May 2026, the bank consolidated its Personal and Business online banking into a single unified platform with one login and one mobile app.

Differentiator

Problem solved

Functional benefit

Brands

• EDGE Concierge Business Banking: Priority VIP Banking Experience with Premium Rewards, Exclusive Benefits, Premier Access, No Fees on Everyday Transactions, Preferred Rates and Personalized Service for business customers.

Products and services

• Free Small Business Checking Business checking account with no minimum balance requirement and no monthly transaction fee; includes free online and mobile banking and free personal checking for employees. Targeted at small businesses.
• Commercial Checking Plus Business checking account with unlimited transactions when a $5,000 minimum daily balance is maintained or $15,000 in combined Business Money Market balances; $15 monthly service charge otherwise.
• Business Interest Checking Interest-bearing business checking account for non-profits and DBAs; requires $1,000 minimum daily balance to avoid $10 monthly service charge; interest compounded daily and credited monthly.
• Business Savings Account Business savings account with $100 minimum opening deposit, $1,000 minimum daily balance to avoid a $10 monthly service charge, monthly statements, free Business Visa Debit Card, and tiered interest compounded daily and credited monthly.
• Business Money Market Business money market account with $2,500 minimum daily balance to avoid a $15 monthly service charge, tiered interest rates, interest compounded daily and credited monthly.
• Personal Checking Personal checking account for individual consumers with free online and mobile banking access.
• Personal Savings Personal savings account with tiered interest rates, interest compounded daily and credited monthly.
• Personal Money Market Personal money market account with tiered interest rates.
• CDs & IRAs Certificate of Deposit and Individual Retirement Account products for consumers, with a current 11-Month Freedom CD promotional rate of 4.00% APY at a $1,000 minimum opening balance.
• Online Banking Web-based online banking platform for personal and business customers providing account access, transactions, and financial management tools via browser.
• Mobile Banking App ESB Mobile App on iOS and Android providing mobile access to personal and business banking services, including mobile deposit, Zelle, and account management. A major upgrade on May 18, 2026 unified personal and business banking into a single login and one mobile app.
• Cash Management Services Business cash management services including ACH and wire transfer capabilities, secured by DIGIPASS soft token authentication, for business banking customers.
• Remote Deposit Capture Remote deposit capture service that allows business customers to deposit checks electronically from their location.
• Escrow Management Escrow management services offered to business banking customers.
• Digital Wallet Digital wallet integration enabling mobile payments for both personal and business customers.
• Extended FDIC Insurance Programs Deposit protection programs (IntraFi ICS Insured Cash Sweep and CDARS Certificate of Deposit Registry Service) providing FDIC insurance coverage on customer deposits beyond the standard $250,000 limit.
• Business Loans General business lending products offered to commercial customers.
• SBA Financing Small Business Administration (SBA) guaranteed financing programs for small businesses.
• Commercial Real Estate Loans Commercial real estate lending products for business customers and real estate investors.
• Family Investment Property Loans Mortgage loans for family investment properties offered to consumer and small business borrowers.
• EDGE Concierge Business Banking Premium VIP business banking sub-brand offering priority service, premium rewards, exclusive benefits, premier access, no fees on everyday transactions, preferred rates, and personalized service for higher-value business customers.
• Attorney Advantage Banking Specialized banking products tailored for attorneys and law firms, including IOLTA-related escrow capabilities and customized services.

Quantifiable outcome

• 68% increase in net income from Q4 2025 to Q1 2026
• +3 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

One partnership is on record.

• IntraFi Network (ICS and CDARS)coreTechnology or IntegrationPartnership with IntraFi Network to offer ICS (Insured Cash Sweep) and CDARS (Certificate of Deposit Registry Service) programs, enabling customers to obtain FDIC coverage beyond the standard $250,000 limit by spreading deposits across multiple network banks.

Scale indicators6 records

Recent moves9 records

Expansion highlights5 records

Market position

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/EmpireStateBank
• LinkedInlinkedin.com/company/empire-state-bank-ny
• Instagraminstagram.com/empirestatebankny

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Empire State Bank