Brunswick Bancorp exists primarily to hold the stock of its active subsidiary, Brunswick Bank & Trust. BB also owns 100% of the common stock of Brunscor Realty, a corporation that holds one of the Bank's parking lots as a rental property. As a secondary function, BB purchases loan participations. The Federal Reserve Bank of New York approved this activity.

BB is a legal entity separate from the Bank. The Bank is BB's principal asset. Dividends from the Bank are BB's primary source of income. As explained under Item 5, legal and regulatory limitations are imposed on the amount of dividends that may be paid by the Bank to BB.

The Bank maintains its head office in New...