The Bank Slate


New York Community loses 16 banker teams to competitors

At least 16 teams of bankers have left New York Community Bancorp to accept posts at Peapack-Gladstone Financial in Bedminster, N.J., and Dime Community Bancshares in Hauppauge, N.Y.

Peapack said in a press release that it hired Andrew Corrado as president of Peapack Private’s commercial bank in New York City. He became Flagstar’s head of commercial and private banking in the Northeast after New York Community bought the failed Signature Bank.

“Our expansion [in New York] last summer has been well-received,” Doug Kennedy, Peapack’s CEO, said in the release. “The additional investment we are making today by hiring Andrew and multiple teams of commercial and private bankers capitalizes on the momentum we’ve achieved to date.”

Separately, Dime hired six deposit-focused groups from Flagstar.

“The groups were attracted to our single-point of contact model, best-in-class treasury management systems, state-of-the-art escrow and sub-accounting systems, commitment to continue to innovate, flat organizational structure, and customer-first mindset,” Stuart Lubow, Dime’s CEO, said in a press release.

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