Dime is committed to Brooklyn.
After spending decades in Williamsburg, Dime Community Bank cut the ribbon on its new corporate headquarters at One Pierrepont Plaza on Thursday, April 27.
Dime President and CEO Kenneth J. Mahon, Lead Director Kathleen M. Nelson and Chairman Vincent F. Palagiano were joined by elected officials, employees, the Board of Directors of Dime Community Bank, and others to celebrate the opening of its new digs.
“We wrote a book in 2014 celebrating our 150th anniversary titled ‘The Last Bank Standing’ and the reason is we are the last great Brooklyn savings bank still around today,” said Mahon. “We’re very proud of that and while we love Williamsburg, it was just time for us to take the capital that we had invested there and put it back into the business end so that led to our move here to One Pierrepoint Plaza today. We are thrilled to be in this building.”
Mahon also discussed the bank’s previous home and the massive space. “The campus that we had on Havemeyer Street was in three different buildings,” Mahon explained. “When we got here, I’d have employees come up to me and ask, ‘Who is that employee over there? I didn’t know they worked for us.’ This is somebody that has worked with the company for a couple of years so it was that disperse. Now we are all together. We see each other every day and, frankly, I enjoy that.”
“While we shall miss our longtime home, we are delighted and proud that we and our 140 associates are now headquartered in this fantastic space of One Pierrepont Plaza,” added Nelson.
Borough President Eric Adams discussed the importance the bank has had on all Brooklynites. “Brooklyn is a better place because of Dime Community Bank,” he said. “You have to be great to be around for 150 years. You have to be able to modify your thought and process. You have to be able to know that your consumer base is going to grow and expand.”
“It’s a pivotal day for us, this transformation,” said Senior Executive Vice President and COO Roberto S. Volino. “Being here in the community, with these folks around us is just wonderful to be a part of.”
According to Mahon, the capital produced from the sale that allowed them to move to the new location helped support its mission, which is affordable housing. “Also, moving to One Pierrepoint Plaza, we’ve been able to keep 140 jobs in Brooklyn,” he said. “It’s something we’re very proud of.”
He also described how Dime has evolved over a century and a half. “A year or so ago, we changed our name to Dime Community Bank because the Dime Savings Bank of Williamsburg was a lovely name and we enjoyed it as much as we enjoyed being in that limestone building for many years, but it spoke of a different time,” he explained. “Savings banking is an arcane form of banking these days. Community banking is about community trust and that’s what our mission is today. Dime is a multi-family lender.”
“Every dime that goes in is part of your 150 year legacy, connected to who we have become as Brooklyn is of this amazing institution,” added Adams. “They’re just not a customer of who is trying to make a monetary transaction. Their life, hopes and dream is connected to that dime that is deposited.”