VSB Bancorp, Inc. is a holding company for Victory State Bank (the Bank), a commercial bank. The Company owns all the issued and outstanding stock of the Bank. The Bank is supervised by the New York State Department of Financial Services (NYSDFS) and the Federal Deposit Insurance Corporation (FDIC). The Bank gathers deposits from individuals and businesses primarily in Staten Island and makes loans throughout that community. The Bank invests funds that are not used for lending primarily in government securities, mortgage backed securities and collateralized mortgage obligations. Customer deposits are insured, up to the applicable limit, by the FDIC. The Bank operates five full service locations in Staten Island: the main office in Great Kills, and branches on Forest Avenue (West Brighton), Hyatt Street (St. George), Hylan Boulevard (Dongan Hills) and on Bay Street (Rosebank).