Apple Bancorp Names Chief (original) (raw)

Business|Apple Bancorp Names Chief

https://www.nytimes.com/1991/01/30/business/apple-bancorp-names-chief.html

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Jan. 30, 1991

Apple Bancorp Names Chief

Credit...The New York Times Archives

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January 30, 1991

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Section D, Page

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This is a digitized version of an article from The Times’s print archive, before the start of online publication in 1996. To preserve these articles as they originally appeared, The Times does not alter, edit or update them.

Occasionally the digitization process introduces transcription errors or other problems; we are continuing to work to improve these archived versions.

Apple Bancorp Inc., the holding company for one of New York's largest savings and loan associations, announced the appointment yesterday of William J. Laraia as chairman and chief executive.

Mr. Laraia succeeds Stanley Stahl, a New York developer, who led a leveraged buyout of the company last October. Mr. Stahl is the company's primary shareholder.

Mr. Laraia will also become chairman and chief executive of Apple Bank for Savings, a profitable $3.8 billion savings institution with 33 branch offices in New York City, Westchester County and on Long Island. Apple Bank is the 13th-largest savings institution in New York based on deposits.

Mr. Laraia was executive vice president and group head of Community Banking Group at National Westminster Bank U.S.A. He has also worked for Chemical Bank.

A correction was made on

Feb. 4, 1991

:

A brief report with the Business People column on Wednesday about the appointment of a chairman and chief executive at Apple Bancorp Inc. referred incorrectly to the company's takeover last October. Apple was taken over by Stanley Stahl, a New York real estate developer, through a cash tender offer, not in a leveraged buyout.

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