Kenneth Mahon, CEO of Dime Community Bancshares in Brooklyn, N.Y., has handed over more responsibilities to his top lieutenant.
The $6.4 billion-asset company said in a press release Thursday that Stu Lubow had been named its president, succeeding Mahon.
Lubow, who had been Dime’s chief banking officer with responsibility for business banking, now has added oversight of retail banking, IT, operations and marketing.
“In a short span of time, under Stu’s leadership, Dime has made significant strides to become a well-respected community commercial bank,” Mahon, who was 69 when Dime filed its proxy statement in mid-April, said in the release.
“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 noninterest income,” Mahon added.
Before joining Dime in 2017, Lubow was chairman, president and CEO of the $1 billion-asset Community National Bank. He was 62 when Dime filed its proxy statement.
