42 The Queens Courier • OCTOBER 3, 2013 for breaking news visit www.queenscourier.com Character, commitment, community and cooperation BY JOHAN HAMILTON Investors Bank, founded in 1926, has experienced unprecedented growth in the past five years, and President and CEO Kevin Cummings believes that the “Four Cs” -- character, commitment, community and cooperation -- are to thank for that. Since 2008, Investors Bank has grown from $7.2 billion to $13.3 billion, and now has 100 branches in New York and New Jersey. “We want to be a different bank,” he said. “What’s unique about us is our size and commitment to our employees, our customers and our communities. When Sandy came through, we allocated close to $1 million in grants and contributions to assist people. Since we went public in 2006, we’ve made grants in excess of $10 million.” Cummings also stated, “We want to be a bank that makes a difference with the communities that we serve, and that’s the philosophy of the whole organization. We can serve the underserved. That’s why we’re so committed.” Cummings is particularly proud of the Investors Bank’s staff, which he describes as among the “nicest people in the world.” Investors Bank’s mission is to be a community bank that makes a difference day in and day out. The bank puts its customers and employees first and foremost, and makes opportunities for the community as a whole. It has yielded outstanding returns for its shareholders, and has been voted in the top 25 community banks in the country. “Who are we? We’re the best bank in the metropolitan area,” said Cummings proudly. “The breadth of our retail franchise is large, and we’ve completed six acquisitions. It is our goal to become the third largest community bank headquartered in the NY/NJ metropolitan market. There are many successful banks out there, but it’s different for our bank. We don’t just want to be successful, we want to be significant. We want to create a legacy for this organization, and something our customers and community will be proud to be a part of.” At the end of June, Investors Bank was worth $13.3 billion. Investors Bank is awaiting regulatory approval for two more acquisitions in South Jersey, which will bring the company up to 130 branches. Following these acquisitions, the Company anticipates a capital raise of over $1 billion. However, regardless of how large the company grows, Cummings’ main priority is keeping the bank’s focus of serving the community and its customers at a reasonable price. “The most satisfying thing about what I do is working with the great people here at the bank,” said Cummings. “We’ve assembled an outstanding team, and that team has undergone a tremendous transformation. Almost all of the members of the executive management team have joined the bank in the past seven years. In fact, only one member President and CEO Kevin Cummings. was here when I started. It’s been a complete transformation and change in the culture. We didn’t have any kind of outreach in the community back then either. Now, hopefully we will be the most significant bank headquartered in the metropolitan area in the next five years.” Cummings is also planning on developing other lines of businesses as the bank grows. Investors Bank has already started a small investor advisory business which sells investment products to customers. Cummings is also looking into other options in terms of growth, such as offering auto loans and equipment leasing. “Even when you are successful, you must still be willing to challenge yourself to try new things,” explained Cummings. “You have to embrace your weaknesses and failures, because they make you humble and encourage you to persevere. That builds character, and failure tests your character.” On October 17, the inaugural Investors Bank Queens Not-for-Profit Conference “The Art of Thriving Today and Tomorrow” will be taking place from 8 a.m. to 1 p.m. at the LaGuardia Airport Marriott. Attendance is free, and it will include a keynote address by Tom Finkerpearl, the Executive Director of the Queens Museum of Art; a special presentation by Crom, the Chief Learning Officer at Dale Carnegie and Associates; networking opportunities; and access to the Investors Bank staff. “It’s going to be a great day,” said Cummings. “It’s a great program we’ve put together. We have two very distinguished kickoff speakers, and more importantly there will be breakout sessions. It will be an opportunity for people to get together, exchange ideas, talk about problems they’re facing, and hopefully learn from the experts. We’ll be talking about financial management, social media, board development, profitability and success, and more.” To register for “The Art of Thriving Today and Tomorrow,” call 718-330-3830 or go to myinvestorsbank.com/queensnfp. ADVERTORIAL
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