Suffolk Bancorp (SCNB) was Downgraded by Maxim Group to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Maxim Group advised their investors in a research report released on Jun 28, 2016.
In a different news, on May 26, 2016, Christopher J Hilton (EVP & Chief Credit Officer) purchased 14 shares at $24.19 per share price. According to the SEC, on May 26, 2016, James R Whitehouse (EVP) purchased 7 shares at $24.19 per share price. On May 26, 2016, Anita J Nigrel (EVP & Chief Retail Officer) purchased 2 shares at $24.19 per share price, according to the Form-4 filing with the securities and exchange commission.
Suffolk Bancorp (Suffolk) is a bank holding company for Suffolk County National Bank of Riverhead (the Bank). The Bank is a community bank which offers commercial and retail banking services to its customers. The Bank operates 26 branches in Nassau and Suffolk Counties New York and loan production offices in Garden City and Melville New York. The Bank makes commercial real estate floating and fixed rate loans multifamily and mixed use commercial loans primarily in the boroughs of New York City commercial and industrial loans to manufacturers wholesalers distributors developers/contractors and retailers and agricultural loans. The Bank investment securities consist of United States Government agency securities obligations of states and political subdivisions collateralized mortgage obligations mortgage-backed securities and Corporate bonds. The Bank finances its activities through deposits borrowings and proceeds from maturities and sales of securities.