Victory State Bank Warns Against Sweepstakes Scam


STATEN ISLAND, N.Y. -- Victory State Bank would like to alert you to the following news:

The Federal Trade Commission (FTC) has recently announced a case against an operation that allegedly sent millions of personalized, professional-looking letters to people saying a cash prize of more than $2 million was reserved, “guaranteed and deliverable,” just for them. All the “winners” had to do was return a form with a $20 or $30 acceptance or registration fee. The letters targeted older people in the U.S., Canada, the UK, and dozens of other countries; altogether, the scam took in more than $9 million from its victims.

Still hoping for your golden ticket? There’s no need to give up sweepstakes altogether. According the FTC here’s what you should you know to avoid a prize scam:

You shouldn’t have to pay

Legitimate sweepstakes won’t make you pay money or buy something to enter or improve your chances of winning. That includes paying "taxes" or "shipping and handling charges" to claim a prize.

The prizes aren’t so great

If you do pay to redeem a prize, you’ll find it isn’t worth much or the "vacation" is anything but luxurious. You may end up paying far more than the prize is worth, if you get a prize at all.

Many prize promoters sell the information they collect to advertisers

When you sign up for a contest or drawing at a store, a mall, or another public place or event, instead of a prize, you could get more promotions in the mail, more telemarketing calls, and more spam email. So even if it takes a magnifying glass, read the fine print. That’s often where promoters hide the details about their business practices.

About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited onlinehttp://www.victorystatebank.com.

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Victory State Bank Honors 50th Anniversary

of National Small Business Week

 

STATEN ISLAND, N.Y – As today marks the tradition of 2013’s National Small Business Week, Victory State Bank applauds the important role owners’ play in our economy and communities.

From June 17- June 21, President Obama has continued America’s tradition of honoring the spirit and success of American small business owners.

Small businesses have always been the backbone of our economy, and we know that the success of America’s small businesses is critical to growing our economy and increasing our nation’s global competitiveness.

A recent article written by Karen Mills, an administrator for the Small Business Administration (SBA), emphasizes that half of all working Americans either work or own a small business.

This year, SBA has revamped and redesigned efforts to bring more tools, tips and resources to America’s 28 million small businesses, in conjunction with Administration-wide efforts to make government smarter, more responsive and more streamlined.

Victory State Bank encourages you to tune into this week’s events via live stream at www.sba.gov/smallbusinessweek or visit your favorite local small business and share it on Twitter with #SBW2013. READ MORE…

 

About Victory State Bank:

 

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com

 

Media Contact: Barton Horowitz

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


Victory State Bank Points To NYC’s Bill Of Rights For Business Owners


STATEN ISLAND, N.Y. -- Did you know that New York City has a Business Owners’ Bill of Rights?

Victory State Bank recently visited NYC.gov, where the following information was posted:

AS A BUSINESS OWNER, YOU HAVE THE RIGHT TO:

  1. Courteous and professional treatment by City employees
  2. Inspectors who are polite, professionally dressed, and properly identified
  3. Information about how long inspections will take and the cost of all related fees
  4. Knowledgeable inspectors who enforce agency rules uniformly
  5. Receive information about agency rules from inspectors or other employees
  6. Contest a violation through a hearing, trial or other relevant process
  7. Request a review of inspection results or re-inspection as soon as possible
  8. Receive explanation from inspectors (if requested) on violation details and instructions for viewing inspection results
  9. Access information in languages other than English
  10. Comment, anonymously and without fear of retribution, on the performance or conduct of City employees

If you feel that the service you received is inconsistent with the above, you are encouraged to use the City's online feedback tool, located at www.nyc.gov/customersurvey.

According to the NYC.gov Web site, alll comments and information submitted through the feedback tool will be kept strictly confidential and used solely to enhance business owner service.

About Victory State Bank:

 

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com

Media Inquiries:

 

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

www.RelevantPR.com

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


VSB Bancorp Inc. Announces 23rd Consecutive Cash Dividend


STATEN ISLAND, N.Y. (June 14, 2013) --  VSB Bancorp, Inc. VSBN, the holding company for Staten Island-based Victory State Bank, announced yesterday that its Board of Directors has declared a quarterly cash dividend of $0.06 per share payable on July 1, 2013 to stockholders of record on June 24, 2013.

 "We are pleased to announce our twenty-third consecutive cash dividend. We are maintaining our strong capital position despite the unfavorable economy and interest rate environment," stated Joseph J. LiBassi, chairman of the board of directors.

Raffaele M. Branca, president and chief executive officer, reported, "Our dividend payout ratio is 51.2 percent on first-quarter 2013 earnings, a lower ratio than the previous quarter. Our interest rate margin continues to compress as we see limited loan opportunities and low rate investment options."

VSB Bancorp, Inc. is the one-bank holding company for Victory State Bank. Victory State Bank, a Staten Island based commercial bank, commenced operations on November 17, 1997. The Bank's initial capitalization of $7.0 million was primarily raised in the Staten Island community. The Bancorp's total equity increased to $27.7 million by March 31, 2013. The Bank operates five full service locations in Staten Island, the main office at 4142 Hylan Boulevard in Great Kills and branches on Forest Avenue in West Brighton, Hyatt Street in St. George, Hylan Boulevard in Dongan Hills and Bay Street in Rosebank.

The payment of dividends is at the discretion of the Board of Directors and nothing contained herein should be interpreted as a commitment to pay future dividends.

FORWARD-LOOKING STATEMENTS

Statements contained in this press release, which are not historical facts, are forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to materially differ from those currently, anticipated. Those risks and uncertainties include, among other things, possible future changes in (i) the local, regional or national economy, (ii) market interest rates, (iii) customer preferences; (iv) competition or (v) federal or state laws.

For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com

Media Inquiries:

 

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

www.RelevantPR.com

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.


Victory State Bank Shines Light On Importance Of Business Money Management

 

STATEN ISLAND, N.Y. – Since cash is the key for operating small businesses, Victory State Bank shares financial tips to manage your money to success.

 Cash flow is the movement of money in and out of your business.

Inaccurate cash flow analysis – or lack of available cash – can affect the everyday operations of your business and your eligibility to receive a loan.

Inflow comes form operations such as the sales of goods and services, loans, lines of credit and asset sales.

Outflow occurs during operations such as business expenditures, loan payments and business purchases.

The Small Business Administration explains that cash flow analysis statements are generally separated into three parts:

  • Operating activities: This section evaluates net income and loses of a business. By assessing sales and business expenditures, all income from non-cash items is adjusted to incorporate inflows and outflows of cash transactions to determine a net figure.

 

  • Investment activities: This section reports inflows and outflows from purchases and sales of long-term business investments such as property, assets, equipment, and securities.

 

  • Financing activities: This section accounts for the cash flow trends of all money that is related to financing your business. For example: if you received a loan for your small business, the loan itself would be considered an inflow of cash.

Victory State Bank supports a healthy strategy in managing and maintaining your business’s cash.

 

About Victory State Bank:

 

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online http://www.victorystatebank.com

 

Media Contact: Barton Horowitz

Relevant Public Relations, LLC

Headquarters: 718‑682‑1509

Mobile: 917‑715‑8761

Email: This email address is being protected from spambots. You need JavaScript enabled to view it.