Dime names new CEO, BayFirst names new finance chief and more

July 28, 2023 4:19 PM

Dime Community Bancshares tapped insider Stuart Lubow as its next chief executive; BayFirst Financial announced the appointment of Scott McKim as chief financial officer and more in the weekly banking news roundup.

Kenneth Mahon, Dime's executive chairman

Dime Community in New York names next CEO

Dime Community Bancshares in Hauppauge, New York, tapped an insider to become its next chief executive. The $3.8 billion-asset company said in a press release Friday that Stuart Lubow, currently Dime's president and chief operating officer, will succeed the retiring Kevin O'Connor on Aug. 31. O'Connor has helmed the company since 2021, following the merger of Dime and Bridge Bancorp. He previously was president and CEO of Bridge. "Under Kevin's leadership, we successfully completed a transformational merger," Kenneth Mahon, Dime's executive chairman, said in the release. "The appointment of Stu as CEO has been under consideration since the beginning of the year and is the culmination of a thoughtful and well-planned succession process." — Jim Dobbs

BayFirst Financial in Florida names new finance chief

BayFirst Financial on Tuesday announced the appointment of Scott McKim as chief financial officer of the company and its BayFirst National Bank in St. Petersburg, Florida. He steps into a role held on an interim basis by Robin Oliver, who remained the $1.1 billion-asset BayFirst's CFO following her promotion to chief operating officer in February 2022. She continues in the sole role of COO. McKim joins BayFirst from 121 Financial Credit Union in Jacksonville, Florida, where he was chief strategy officer from June 2022. He previously held the roles of CFO and chief lending officer of Publix Employees Federal Credit Union in Lakeland, Florida, and chief lending officer for American Heritage Federal Credit Union in Philadelphia. — Jim Dobbs

PNC chooses Monica Burch to lead community development in southeast market

PNC Financial Services Group named a new executive to oversee the implementation of the company's $88 billion community benefits agreement in the Southeast. Monica Burch, who most recently led community development banking in Philadelphia, Delaware and southern New Jersey, is now in charge of community development for a territory that includes Alabama, Florida, Georgia, the Carolinas, Maryland, Tennessee, Virginia and the District of Columbia, Pittsburgh-based PNC said in a press release. Burch succeeds Thurman "Tony" Smith, who previously led PNC's community development and lending strategies for both the southeast and midwest markets. PNC's community benefits plan, which was negotiated as part of its acquisition of the U.S. operations of the Spanish banking giant BBVA, was the largest such plan when it was announced in April 2021. The four-year plan began in January 2022. — Allissa Kline

SouthState Bank launches small-business banking team

Winter Haven, Florida-based SouthState Bank announced this week that it will launch a small-business banking division to meet growing demand in the Southeastern region. The $44.9 billion-asset bank has not yet released specifics on its new team. But SouthState president Richard Murray said the initiative will aim to shore up support for local economies and businesses. "Offering our small-business customers a line of products that fits their needs, accompanied by well-rounded, knowledgeable bankers and a library of small business resources, are enhancements we know business owners across the Southeast will benefit from," Murray said. — Charles Gorrivan

The two companies that will exist after NCR’s split have names

NCR has named the two companies that will exist after its split, which is expected in the fourth quarter of 2023. The digital commerce business will be called NCR Voyix, meant to evoke the concept of a voyage, while the "X" represents "the actionable insights delivered to customers and the visual manifestation of the company's ability to 'link' the digital and physical worlds," according to a press release from NCR. The ATM business will become NCR Atleos, rooted in the word "atlas," to reflect the company's broad reach. According to the press release, "'At' nods to the company's past and present history with automated tellers, which combined with 'eos,' or the dawn of a new era, speaks to NCR's drive to scale ATM as a Service, interactive tellers and future innovations." — Miriam Cross

Wyoming trudges ahead on crypto

In the state's latest push on crypto, Wyoming is recruiting someone to supervise the nation's first stablecoin project. That's according to a job posting last week for an executive director of the Wyoming Stable Token Commission, a committee formed in March to create a U.S.-dollar pegged crypto coin redeemable in state-owned accounts. Wyoming has continued to pursue the right to support cryptocurrency-related businesses, despite roadblocks in Washington preventing state-chartered crypto banks from accessing the Federal Reserve's payment rails. — Charles Gorrivan

Iowa-based community banks collapse charters

Two Iowa-based Fayette Bancorporation subsidiaries have filed plans to merge into a bank with combined assets of approximately $101.4 million. Hawkeye-based Citizens Savings Bank will incorporate its $29.2 million in assets under the hood of the $72.2 million-asset Maynard Savings Bank, which is based in Maynard and did not respond to a request for comment on the deal's details. If approved, the merger will be effective in November, with both banks operating as Maynard Savings Bank. — Charles Gorrivan

Sandy Spring promoted Pulford to lead consumer lending division

Sandy Spring Bank has promoted Lynne Pulford as the head of the Olney, Maryland-based bank's newly formed consumer lending group. Pulford, a 36-year veteran of the bank, has been leading its mortgage division for the last 16 years. In her new role, she will also oversee the bank's community banking operations and marketing. Pulford is joining Sandy Spring's executive leadership team as part of the promotion. The bank has locations across the greater Washington D.C. region. — Polo Rocha

Angelo Gordon announces senior promotions and new hire

On Monday, alternative investment firm Angelo Gordon announced the hiring of David Busker as head of Commercial Real Estate Debt, along with a number of senior personnel moves. Current Managing Directors Marc Lessner and Xavier Dailly have been appointed co-deputy portfolio managers of the firm's open-ended structured credit fund; T.J. Durkin and Yong Joe will continue to lead the fund as co-portfolio managers; Aaron Ong has been named head of Private Asset Based Credit and Sunil Kothari has been appointed head of European ABS. Andy Solomon, who will be retiring at the end of 2023, will work closely with David Busker in an advisory capacity through year end to ensure a seamless transition. — Traci Parks