John M. Tolomer
President & CEO, The Westchester Bank
The Westchester Bank: A state-chartered, FDIC-insured community bank targeting small to mid-sized businesses in Westchester County and the New York Metropolitan area. With its flagship office in Yonkers, the bank opened in 2008 and is one of the nation’s fastest-growing community banks. TWB’s third branch opened in Thornwood in October 2012.
MOST VALUABLE RESOURCES: “TWB is very fortunate to have recruited experienced bankers that are highly motivated to execute the TWB strategy of ‘Business Banking Made Personal.’”
LESSONS LEARNED: “The biggest challenge was debunking the myth that small banks lack the ability to offer the same products and services and compete with the largest financial institutions in the world. Our advertising, the team members’ ability to deliver world-class service to our customers everyday and the word-of-mouth of our customers have enabled us to overcome this challenge.”
SECRET TO SUCCESS: “We have a highly motivated team of professionals that executes our model of providing all of the products and services that satisfy our customers’ needs, and combine that with an unparalleled level of personal service that they will not find at any other financial institutions. TWB focuses on what we can do for the customer and communicates business solutions rather than focusing on what we cannot do.”
REWARDING MOMENT: “As a de novo bank, our first rewarding moment was attaining profitability two years in advance of the bank’s most aggressive projections. The trajectory of our growth and the quality of our clients is a continuing source of pride.”
WHAT’S NEXT: “We anticipate opening a new branch every year for the next four years. We will continue to be a meaningful member of the fabric of the business community in Westchester.” www.thewestchesterbank.com
