Presidential Announces New Banking Branch in the Ballston Area of Arlington, Virginia

Presidential Savings Bank has received approval to open a new deposit banking branch at 901 North Stuart St. in Arlington, Virginia, at the Ballston Metro Station.  The new branch is expected to open by May 31, 1999.

This new branch is consistent with Presidential's limited branching strategy.   Under this approach to branching, the Bank's primary emphasis in deposit gathering activities is being shifted to the Internet, through the Presidential® Online Bank division.  Branches will be concentrated in the corridor which runs along route I-270 in Maryland, through downtown Washington, DC and out the I-66 and the Dulles Tollroad in Northern Virginia.  It is along this corridor where most of the Washington area's high tech and government contractor businesses are located.   The Bank's branches are intended to lend support to its commercial lending business.