updated 5/23/2011 4:16:26 PM ET 2011-05-23T20:16:26

EAST SYRACUSE, N.Y., May 23, 2011 (GLOBE NEWSWIRE) -- Beacon Federal, a subsidiary of Beacon Federal Bancorp, Inc. (Nasdaq:BFED), is proud to announce it has been named a best company to work for in New York State for the third consecutive year. Beacon Federal ranked as number twelve on this year's list among the small/medium sized companies in the fourth annual Best Companies to Work for in New York State awards program.

"We are honored to be named as a best place to work for a third consecutive year," said Ross Prossner, President and CEO of Beacon Federal. "This recognition is especially meaningful since the award is based predominately on input from our people. A critical component of our success is to foster an environment where we can offer the best employee experience, so that in turn, they can offer the highest level of service to our customers and the communities we serve."

This annual statewide survey and awards program is designed to identify, recognize and honor New York's best places of employment that are benefiting the state's economy, its workforce and businesses. In order to participate, companies had to fulfill the following eligibility requirements: have at least 15 employees in the state of New York; be a for-profit or not-for-profit business or government entity; be a publicly or privately held business; have a facility in the state of New York; and be in business for a minimum of one year.

Employers from across the state entered the two-part process. The first part consisted of evaluating each nominated company's workplace policies, practices, philosophy, systems and demographics. This part of the process was worth approximately 25% of the total evaluation. The second part consisted of an employee survey to measure the employee experience. This part of the process was worth approximately 75% of the total evaluation. The combined scores determined the top companies and the final ranking. Best Companies Group evaluated the data collected from the participating companies and used their expertise to determine the final rankings.

Best Companies to Work for in New York is a program of the New York State Society for Human Resource Management (NYS-SHRM) in partnership with The Business Council of New York and is sponsored by Jackson Lewis, LLP.

The Best Companies to Work for in New York list is made up of 50 companies split into two groups: 27 small/medium-sized companies with 15-249 employees and 23 large-sized companies of 250 or more employees. The complete list of winners and information about each is available online at www.BestCompaniesNY.com .

Beacon Federal ("the Bank"), a subsidiary of Beacon Federal Bancorp, Inc., provides a full array of banking products and services to both individuals and commercial customers. The Bank is headquartered with a full-service branch in East Syracuse, New York, along with seven other full-service branches in East Syracuse, Marcy and Rome, New York, Smartt and Smyrna, Tennessee, Tyler, Texas and Chelmsford, Massachusetts. The Company's stock is traded on the NASDAQ Global Market under the symbol "BFED." For more information about Beacon Federal, visit www.beaconfederal.com .

CONTACT: Kathleen Russell
         Vice President of Human Resources
         Beacon Federal Bancorp, Inc.
         6611 Manlius Center Road
         East Syracuse, NY  13057
         (315) 433-0111 x 1542

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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