Kevin O’Connor, CEO of Dime Community Bank, joins the Ask A CEO Podcast. Kevin shares his thirty-plus years of experience in the banking industry, the importance of mergers, and ensuring a seamless transition for customers.
Key Facts
- Kevin’s LinkedIn
- Dime Community Bank Website
- Kevin holds a BS in Accounting from Adelphi University
- Kevin O’Connor has more than thirty years of experience in banking
- Kevin O’Connor is a former Executive Vice President at North Fork Bancorporation
- Kevin is a former President and CEO at BNB Bank
- Dime Community Bank merged with Bridge Bancorp in July of 2020 and became Dime Community Bancshares
- Dime Community Bancshare’s total assets are worth $12B and they have over sixty branches
Key Takeaways
- Kevin O’Connor completed his BS Accounting degree from Adelphi University in 1984
- Kevin started his career with North Fork Bancorporation in 1987 as an Executive Vice President, where he developed his skills for engaging customers
- He joined Dime Community Bank as the CEO, where he aims to deal with the impacts of COVID-19 on their business
- Kevin believes that prior to Covid-19, “interactions with the customers were easy”. However, during COVID-19, he has taken the initiative to reach out to customers and interact with them through zoom and other online portals
- The Dime Community Bank transforms people’s lives no matter their background and helps them succeed by providing financial assistance, wealth management, and more
- Dime Community Bank has been serving the community for more than a century and continues to do so. It has a vast network of branches/service offices
- At Dime Community Bank, branch managers personally look after customer affairs, solve matters, conversate with customers one-on-one, and report to one centralized office of the CEO
- Kevin believes that the primary reason behind the exceptional success of Dime Community Bank is their team. He gathered a diverse group from different ethnicities, different cultures, and different languages. This helps the organization handle customer diversification
- In 2020, Dime Community Bank joined hands with an equally ranked Bank, Bridge Bancorp. Post-merger the bank is named Dime Community Bancshares
- Kevin believes that this merger will help both parties serve the community even better. Kevin of Dime Community Bank and Kenneth Mahon of Bridge Bancorp decided not to deploy any immediate changes for the end-user. This way, the customers do not experience any difference in operations, and they can get the services with the same convenience that they are used to.
- Kevin believes that COVID-19 has changed banking and business dynamics; “Where some have gone bankrupt, while some have gained a lot”. So, whether good or bad, adapting to change depends on how one works through it.
- Kevin shares that the board meetings at Dime Community Bank take place online, where they discuss the nitty-gritty of the business, problems, and decision making. Kevin says that these meetings have been going smoothly and even better than before.
- Kevin believes that “mergers can help organizations to grow together”. In times like COVID-19, it’s important to work together, be on the same page, join hands, collect energies, make a plan, and serve the masses in the best and most innovative ways possible
Kevin’s Advice for CEOs
“Conversate with Customers 1O1”
Kevin advises CEOs to have an unstoppable conversational process with customers. Whether that be during face-to-face meetings or through online mediums, you must provide them with the best possible care
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About Merging 2 Major Banks During Difficult Times with Kevin O’Connor, CEO of Dime Community Bank
Kevin O'Connor is the Chief Executive Officer at Dime Community Bank. Throughout his career, Mr. O’Connor’s leadership of financial institutions has been marked by his relentless focus on organic growth, strategic acquisition and community-based customer service and culture.