Dime Promotes Stuart H. Lubow to President
May 28 2020 - 5:29PM
Dime Community Bancshares, Inc. (NASDAQ: DCOM) (the “Company” or
“Dime” or “its”), the parent company of Dime Community Bank (the
“Bank”), today announced that its Board of Directors approved the
promotion of Stuart “Stu” H. Lubow to President of the Company and
the Bank.
In his new role, Mr. Lubow, previously Chief Banking Officer
with responsibility for the Business Banking division, will add
reporting responsibilities for Retail Banking, Information
Technology, Operations, and Marketing.
Mr. Kenneth J. Mahon, CEO of the Company and Bank,
stated, "Stu's promotion to President recognizes his
outstanding leadership, customer-centric focus, enterprise-wide
vision, and our Business Banking division’s strong performance
to-date. In a short span of time, under Stu’s leadership, Dime has
made significant strides to become a well-respected community
commercial bank. The Business Banking division’s strong loan and
deposit growth has enabled us to: increase our core net interest
margin for six consecutive quarters, diversify our balance sheet
and grow sources of non-interest income.”
Mr. Mahon continued, "Stu has contributed tremendously to our
long-term goal of becoming the best business bank in New York. I
very much look forward to working closely with Stu in the years
ahead and creating value for our customers, employees and
shareholders.”
Mr. Lubow has been a banking executive for over 40 years. Prior
to joining Dime in 2017 as Senior Executive Vice President and Head
of Business Banking, he served as Chairman, CEO, and President of
Community National Bank, a full service community bank with nearly
$1 billion in assets and 11 branches. Previous to that, he was
Founder, CEO, and President of Community State Bank and prior to
Community State Bank, Mr. Lubow held executive positions at Garden
State Bank, Dollar Dry Dock Bank, and People's Bank, N.A. Mr. Lubow
is a graduate of Moravian College, Bethlehem, Pennsylvania, where
he received a Bachelor of Arts degree in Accounting.
ABOUT DIME COMMUNITY BANCSHARES, INC.
The Company had $6.35 billion in consolidated assets as of March
31, 2020. The Bank was founded in 1864, is headquartered in
Brooklyn, New York, and currently has 28 retail branches located
throughout Brooklyn, Queens, the Bronx, Nassau and Suffolk
Counties, New York. More information on the Company and the Bank
can be found on Dime's website at www.dime.com.
Contact: Avinash
ReddySenior Executive Vice President – Chief
Financial Officer718-782-6200 extension
5909
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