Stuart Lubow on business diversification
From Stuart Lubow, CEO of Dime Community Bank | CEOs You Should Know · · CEOs You Should Know
“We're really focused on building and continuing to build a commercial relationship business, our C&I business, our healthcare business, and diversifying away from just what was a monoline business of multifamily lending to having a full-service diversified Business Bank.”
On , Stuart Lubow, Chief Executive Officer, President & Director at DIME COMMUNITY BANCSHARES, spoke about business diversification during Stuart Lubow, CEO of Dime Community Bank | CEOs You Should Know on CEOs You Should Know.
About Stuart Lubow
Stuart Lubow, president and CEO of Dime Community Bancshares, discussed the bank's transition from a "sleepy Thrift Savings Bank" to a "vibrant relationship Commercial Bank" since he joined in 2017. He stated that the bank received an "outstanding CRA rating" and that it grew deposits by $1.5 billion while other banks struggled, adding that Dime hired teams and built out lending teams to take advantage of the opportunity. Lubow said the bank is focused on building a diversified commercial business, including C&I and healthcare lending, moving beyond a monoline multifamily lending business. Lubow described community banking as "even more important than it's ever been" due to the dominance of large institutions, and said the key challenge is balancing regulation and service with shareholder profitability and customer satisfaction. He predicted more M&A in the industry, creating opportunities for Dime to serve customers displaced by recent bank mergers and failures. Lubow credited the bank's team and customers for its successholidays.