INTERVEST BANCSHARES CORP - CLASS A
Latest Quote @ Wed Jun 6 08:11:46 (15 min delayed)
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Intervest Bancshares Corporation operates as the holding company for Intervest National Bank, which provides commercial and consumer banking services in New York and Florida. The bank accepts certificates of deposit, individual retirement accounts, checking and other demand deposit accounts, negotiable order of withdrawal accounts, savings accounts, and money market accounts. It also offers commercial loans, including term loans, lines of credit and equipment financing, loans for working capital needs, business expansion loans, and the loans for purchasing equipment and machinery; and 504 loans that are secured by commercial and multifamily real estate, including rental and cooperative apartment buildings, office buildings, mix-used properties, shopping centers, hotels, industrial properties, and vacant land. The bank's consumer loans include loans for purchasing automobiles, recreation vehicles, and boats; second mortgages; and home improvements, home equity lines of credit, and personal loans. In addition, the bank provides Internet banking services; ATM services with access to local, state, and national networks; wire transfers; direct deposit of payroll and social security checks; automated drafts for various accounts; and safe deposit boxes. It invests in securities that are issued by the U.S. government or one of its agencies. As of September 30, 2005, the bank had a banking office in Rockefeller Plaza in New York City and five banking offices in Pinellas County, Florida. The company, through its other subsidiaries, provides mortgage loans on commercial and multifamily residential properties; and issues debentures, debt securities, and trust preferred securities. Intervest Bancshares was incorporated in 1993 and is based in New York City.