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Elizabeth J. Marchetti and Theresa M. Ovington Join NCB to Support Financial Reporting Requirements

(June 30, 2011) NCB,FSB, a federally chartered savings bank dedicated to serving cooperatives nationwide, is pleased to announce that Elizabeth J. Marchetti and Theresa M. Ovington have joined as Senior Regulatory Reporting Analysts.  The duo will support the wide range of internal and external financial reporting requirements of the bank including the Thrift Financial Reporting for the Bank and audited financial statements for NCCB and NCB, FSB.  

 “In today’s banking industry, regulatory reporting is a top priority, and we want the best team in place to handle the evolving requirements,” said Charles Snyder, Chairman of the Bank. “We are extremely pleased to have these two professionals join this department. Their experience is invaluable, especially as we focus on shifting our auditing systems by next year.” 

 In their new roles, Ms. Marchetti and Ms. Ovington will join the team responsible for completing all designated regulatory audits and preparing and reviewing support documents with an eye toward converting from the OTS to OCC audit system by 2012. The two will work to produce various financial reporting packages for NCB, FSB and NCCB and prepare external financial statements for NCB, FSB.  

 Both Marchetti and Ovington bring an impressive track record in the analyst arena to NCB. Ms. Marchetti spent the last ten years handling regulatory and internal reporting as well as supporting bank data.  She was previously a Senior MIS Analyst at Capital One in Laurel, MD, where she was charged with processing data issue inquiries regarding the bank’s warehouse. Ms. Ovington served as Principal Financial Analyst at Chevy Chase Bank in Bethesda, MD, for the past 11 years. She was responsible for the preparation of the bank’s external filings in addition to overseeing internal and external audit requests.  

NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop.      

The NCB Financial Group consists of the Congressionally-chartered National Consumer Cooperative Bank (NCCB) and NCB, FSB, a federally insured savings bank wholly owned by NCCB. The NCB Financial Group provides financial products and services for the nation's cooperatives, their members, and socially responsible organizations.  The NCB Financial Group also works in a strategic alliance with NCB Capital Impact, a non-profit Community Development Financial Institution created under the same act of Congress as NCCB with particular focus on impacting low and moderate income communities.