Dime Community Bancshares in Hauppauge, New York, has established a national deposits group as part of its ongoing effort to add business lines and expand geographically.
The $13.6 billion-asset company says its new four-member team will target several niche markets, including funeral and other death-related services; escrow servicing; family offices; fund banking; hedge funds; insurance; medical billing; private equity; software; and third-party payment processors.
Dime has named Martin Ball head of national deposits. He had been head of national deposits at Valley Bank in Morristown, New Jersey. Glen Carballo, previously vice president in the national deposits group at Valley Bank, was named director of national deposits.
"We chose to move to Dime for its strong vision of marrying a single-point-of-contact approach with best-in-class technology," Ball said in a news release issued Tuesday. "This combination will allow us to service deposit-rich niches with enhanced offerings. We look forward to attracting and servicing customers in targeted verticals with a model that is focused on expertise, efficiency and execution."
Founded in Brooklyn as Dime Savings Bank of Williamsburgh in 1864, Dime for most of its history focused on multifamily lending. But in recent years it has sought to diversify its portfolio, focusing more on commercial-and-industrial loans. In 2023, for example, it
It also has ramped up deposits to fund new lending lines. Dime capitalized on the failures of Signature Bank and First Republic Bank last year by hiring seven deposit-focused banker groups — six from Signature and one from First Republic.
