4 THE QUEENS COURIER • QUEENS BUSINESS • APRIL 13, 2017 FOR BREAKING NEWS VISIT WWW.QNS.COM “If they’re successful, we’re successful,” agreed Volino. “If they win, we win.” The bank has also redoubled its efforts to support the community, making donations to local not-forprofit organizations such as NHS, Brooklyn Legal Services and Los Sures, in the bank’s longtime home base of Williamsburg, for example, though each branch manager, Mahon said, has funds to distribute to worthwhile causes in their backyard. “We encourage, almost require our branch managers to be part of organizations that support the community,” said Brown, noting that the bank asks them to support local Business Improvement Districts and Chambers of Commerce and, in effect, function as “Dime ambassadors.” Overall, “we are looking for opportunities where, perhaps, Dime fills a niche in the community not served by traditional or other, larger banking operations,” he continued. “New York City is made up of many villages and neighborhoods. What works in Long Island City and Sunnyside might be different in Greenpoint or the 86th Street Business Improvement District in Bay Ridge. We have to be present to see the differences, talk to merchants, and talk to service providers.” In keeping with that philosophy, Dime is also looking to expand. Brown noted that construction had already begun on a branch at Kent Avenue in Williamsburg that is planned to open later this year, and he stressed, “We’re always looking for opportunities to tap into new communities that could be desirous of our commercial banking or small business services and/or to renovate and reposition existing branches not only to reflect the community but to reflect the Dime brand going forward.” For business clients in particular, Dime’s open door policy is grounded in the philosophy that businesses, as Brown says, “are the lifeblood of the community. For us at Dime, they represent where we can make the greatest impact.” To that end, Dime – which has a long history as a multifamily lender – has recently launched an expansion of its direct lending business, headed up by Senior Executive Vice President and Chief Commercial Banking Officer Stu Lubow. “We’re moving Dime in the direction of a full service commercial community bank,” noted Lubow, who came on board after another bank he led was sold in 2015, and has brought his team and his contacts with him to Dime, where they are working on commercial and industrial loans, business and personal mortgages, and a whole lot more. Since implementing this new business, Dime is enjoying early success. “The reason we’ve been so successful and why we’re off to a great start is that those relationships follow their banker,” he noted. “The relationship teams we brought on board have their clients. So, on top of a great platform to grow, we’ve jumpstarted it with relationships we’ve had for 20 or 25 years. In the first two months, we have $220 million in the pipeline. We’re closing loans every week. We thought we were going to be successful, but the success is even greater than what we anticipated.” The expectation, Lubow added, is that, once borrowers sign on with Dime, they will move not only their lending business, but also their primary business over to the financial institution. “We want the entire relationship, not just the lending side,” he said. The concept, he added, is being, “A one-stop financial services for businesses in the metropolitan area.” Bank officials, he went on, are working together in “creating the cultural environment and business climate that make us the preeminent service provider for small and medium-size businesses, both on the lending and the deposit sides.” Currently, Dime is in the process of opening up Midtown Manhattan and Melville, Long Island locations that will focus on business banking, said Lubow. In addition, he noted, “We are going to be working very closely with our retail network out there today. Our belief is that we have 27 market managers in every one of our branches.” Dime also recently moved its headquarters from its longtime location in Williamsburg to a modern office building on Cadman Stu Lubow, senior executive vice president and chief commercial banking officer, for Dime Community Bank, who is leading the bank's efforts on commercial and industrial loans, business and personal mortgages, and a whole lot more. Rob Volino, senior executive vice president and COO of Dime Community Bank, at the reception desk in the bank's new headquarters.
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