June 26, 2024 • 29 mins
President and CEO Nick Caplanson of Dime Bank and Molly Devanney, President and CEO of Highland Park Market Today’s interview will focus on serving the community working with local businesses and business owners.
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(00:00):
iHeart Communities. Thank you so muchfor listening. Din Renee Denino and one
of our proud partners in the community, Dime Bank. I love working with
Dime Bank, and I love whenI get a visit from their president and
CEO, Nick Kaplinson. Thank youso much for being here. Hey,
how are you, Renee? Greatto see you. It's great to see
you. Thank you for supporting iHeartCommunities and all the work we do in
(00:20):
the Connecticut community. We appreciate youso very much. But I'm also kind
of excited on the side right nowthat you brought in not only one of
my favorite people on the planet,one of my favorite people has one of
my favorite grocery stores on the planet, but also one of my dearest friends.
Hello, Molly de Vanny, It'snice to have you here. I
Renee. How are you? HighlandPark Market? I mean, you know,
I like the meat loaf, soI'm not understanding why I don't see
(00:42):
any right now. I know.I'm sorry. I truly am a little
bit at a loss for words orepic failure. So it's a big,
big failure. But I'll look toNick now for support. Listen, Oh,
Highland Park, well known community ownedor not community owned, but community
supported local business. I lived inManchester for the first five years of my
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professional career. Highland Park is ainstitution in Manchester, Glastonburg, the whole
area. It's just tremendous. Whydon't know that, You say how many
locations you have? So we haveManchester, Glastonbury and Farmington and obviously there's
a Dime Bank connection here. Thereis. You know, we are so
proud to do business with a localbank. It's it's huge. It's you
(01:26):
walk in there and they know yourname. You don't wait, you are,
they're running and getting your stuff.It's almost like if you went to
a coffee shop and they were gettingyour coffee ready. That's the same thing
that you have that happens at DimeBanks. It's all about the customer.
It's all about taking care of theperson. They are amazing when you talk
about customer service. I've never hada problem. You know, you dread
going into other banks and I havea smile every time I walk into Dimebank.
(01:48):
We didn't even have to ask hera question. It was like cressgull
and it's wonderful to hear. Asa CEO of Dime Bank. I love
hearing happy customers absolutely, but actually, if you wouldn't mind, and obviously
I'm going to call on you againto Mali, but let me talk about
that personal connection with Connecticut businesses.Now. I know you help businesses not
only statewide, nationally depending on whatthey're looking for in services and commercial and
(02:13):
things like that. I mean alot of international businesses are based here in
Connecticut, right, But talk aboutwhen you're specifically dealing and supporting not only
local businesses but generational family owned businesses. Yeah, it really is the sweet
spot for us. And I wouldsay that we connect deeply with these types
of organizations because that's who we are. We are. I like to call
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us a billion dollar small business.We really are. We focus on that
segment of the commercial market. Wehave one hundred and seventy employees that are
very dedicated to getting to know customersand their individual needs and being personable making
them feel comfortable. I always say, how do we different perentiate ourselves.
(03:00):
It's making people feel comfortable. It'snot just providing the product or the service,
getting them comfortable familiar with us,feeling like it is a positive experience,
just like Molly just said, Imean, I love hearing that she
has a smile on her face whenshe walks in and people know her name.
That's what it's all about. Andwe have a lot of clients that
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are multi generational small businesses in thecommunities that they're in, and they tend
to gravitate to a bank like Dimerather than the large regional or national banks
because of that personal touch. We'vehad quite a wonderful partnership over the past
year. And one thing we shouldtouch on before we go any further,
Nick, is actually just the foundingand the reason why Dime Bank is so
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special and the differences between a regularbank, a credit union, things like
that. You have something that's veryfundamentally different at the core of what Dime
Bank is and how you run yourbusiness. Maybe you could share that information
with sure. I mean, wewere started back in the mid eighteen hundreds
in Norwich, Connecticut by some prominentlocal business people and community leaders really to
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help local communities and local residents,local small businesses. We are unlike some
of the larger banks in the sensethat we are not publicly traded, we
don't have shareholders, We're owned byour depositors by our customers and communities.
So as a result, we don'tfall under some of the modern day pressures
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that people hear about profitability, bottomline orientation, short term decision making.
We're here for a multi generational,sustainable, community based model, and that
is becoming rarer and rarer in today'sbusiness climate. So that's a real difference
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between us and some of the otherbanks that some of your listeners might know
of. You know, credit unionstraditionally have been geared towards very specific organizations
Teachers Credit Union or Pratt and Whitneyor what have you. They've expanded out
and become more like community banks,but don't fall under the same regulatory rules
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and operate in a little bit differentenvironment. So we're really unique. And
there's a handful of community banks inConnecticut, mutual community banks. We represent
one of the more prominent ones inthe eastern portion of the state. Dime
dashbank dot com for more information,and that dash is important. Dime dash
bank dot com with locations across Connecticutand even Rhode Islands. Correct, all
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right, and so people can getall that all the information they need.
And now, actually, Molly,I'd really like to turn things over to
you because you've grown up within afamily business. So you've grown up,
you've learned everything from behind the scenes. You know, when did you appreciate
or understand the finances behind it,the banking behind it, instead of just
like you know, stocking the shelvesor being the cute molly at the store.
(06:11):
Oh this is fun. But nowyou're like you're a boss lady.
Right, So now when did youthat so fun? Right? Oh?
I think you know that was oneof the things that I think as our
father was nearing the retirement age,he brought us in and you know,
really the value and what keeps youknow, business is going is the people,
right, So it's the people atDime Bank. I remember when Jerry
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left the previous bank he was atHe's our you know, an incredible,
incredible representative. He left and wewere just crushed. And when he went
to Dime we were like die bank. Okay, okay, we've heard of
them, We've drive by them,and he and it just we were able
to transfer our relationship from our previousbank into a community bank because you know,
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we're all about the small businesses andreally keeping the small businesses going.
And helping local farmers and you know, all of that is so important when
you talk about doing business, andyou know, it's what our communities thrive
on is the small businesses. Sowhen you go to Dime Bank and there
are a small bank and they understandyour needs and you talk to them,
it's just it's such a different experience. And I think that again, our
father brought us in to show usOkay, we've got a big choices to
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make here. Do you want tostay with this where you're just where your
number amongst people? But the valueof being a person is very you know,
that's been his value in his lifeand what he took out of his
career. It's people matter more thananything else. And I think when you
do business with people that care aboutyou, it's it just that's that's what
matters. That's what brings your communitytogether, is people looking out for one
another. And just I think that'sone of the things that we had is
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that the people that care were connectedand it's just been you know, okay,
this is this is what you guys. You know, you understood the
banking world when you went in andgot changed for your you know, the
order now all of a sudden,it's okay, now we've got to sign
on these loans, and now we'vegot to sign on this and try to
figure out who we want to havea banking relationship with. And that's been
wonderful Dime Dash Bank doc. Ijust wanted to remind people of that.
(08:01):
We're talking to Maley Devana. Sheis the president's CEO and owner of Highland
Park Market along with her amazing family. And of course we're here with Nick
Kaplinson, president and CEO of DimeBank. I actually want to get a
little bit more in depth into thatbank and business partner relationship. If someone's
listening right now, or a familyowned business is listening right now now,
actually, maybe I'll just sit downand let you two take over the show
(08:24):
for a second. You guys canbanter back and forth, but what's the
structure if someone calls you or goesinto one of your locations and says,
okay, I heard this interview withHighland Park Market. We're small family business,
but we do have satellite locations.We're growing, we're expanding, we're
thinking about changing or we're thinking aboutstarting. What's step one with the process.
So it's a great question, Renee, and I think what it boils
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down to is, first off,determining what the needs are of the small
business. And in a lot ofcases it's very specific. It may be
financing, or maybe cash management servicesor just a deposit relationship. In other
instances, it's very broad based.And you know, again running a small
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business, and I'm sure Molly wouldsay this as well, you're not just
the CEO, You're the HR director, you are the marketing team, you
mop the floors and take the garbageout. You have a very broad scope
of responsibility and small businesses, whetheryou're a building contractor landscaping company, manufacturer,
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whatever it is, you're going tohave needs. And in a lot
of cases, small businesses come tous and say, you know, I
understand the financing piece. I dothat, I know how to reach out
to a commercial loan officer. Ihave no idea about cash management. Can
you help me? I actually haveno idea about cash management? Can you
help me? So it's what itreally blis, what it really boils down
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to is is when that small businessowner comes in and makes that initial contact,
it's up to our team member toassess the situation. Determine need and
connect that individual with the appropriate personin Dinebank, and believe it or not,
we can do just about everything thatthe large banks can do. So
oh okay and Molly, before youjump in here and to talk about,
(10:24):
you know, maybe the process ofgoing in and starting, you know,
from square went, or maybe evenoffering inspiring advice. I was just going
to ask you quickly, Nick,are there types of businesses that you're more
able to help than others? Orreally it's a template and it doesn't matter
what their product is, whether it'syou know, grocery or retail or whatever
the case may be. Yeah,I mean, we have certain industries that
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we've done a lot of work with. For example, the medical profession We
have dozens of clients that we've helpedover the years and a team that's very
dialed into medical dental, an expandingnetwork of medical providers. But we do
business with a lot of different industries, a lot of retailers, grocery stores,
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manufacturers, again, small businesses likelandscapers. We do a lot of
real estate development financing, very verybroad based. And the other thing is,
you know what is small business andthat's kind of a moving target.
Some people. You know, again, I consider us a small business.
(11:33):
We're a billion dollars, but howmany employees one hundred and seventy right,
So small business could be you know, one person to I think, what
does the state say fifteen hundred orunder or something. It's like a number
that I don't know the stat rightnow, but I know it's a it's
a higher number than people would think. Yeah, but you know, we
have we have small businesses that operatein multiple states. We can help them,
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We can finance things in other stateswe can So it's very much a
moving target. I think the mostimportant thing is to recognize that just because
we're a local, mutual community bankdoes not mean we're limited in the services
we can provide or the geography thatwe service. We can we can go
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all over the place, and especiallyin today's world where a lot of business
can be done electronically, you don'teven have to come in to sign paperwork
for us, but you can't.We but we love we love it.
But we also recognize that there area lot of people who just uh,
you know, we just we justdid a financing project in Greenwich, Connecticut.
It's a long way to come toNorwich. We can do this electronically,
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we can. You mentioned some otherstates that you need to so proximity
it doesn't matter. Which doesn't matter, but we do love to connect personally,
uh, and all of our peoplereally would love to see you face
to face because it gives us anopportunity to get to know you better.
You've to get to know us andform a more solid relationship than just pushing
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a button on an iPhone or anonline banking relationship, right, And I
think that's you know, one ofthe things I brought one of the small
nonprofits that I run over there too, and to know the convenience and how
easily it was to transfer from youknow, one account to another. They
opened up everything for us. Wehad the right players room, They went
above and beyond to make sure thatthe process was simple. And not only
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that, but okay, this isworking really well for you. But I
think that this is a good opportunityfor you if you take advantage of this.
If you you know, again they'relooking out for you as bankers.
You go in there and the managerJen will come running up to you and
saying, hey, listen, I'veseen this. I want you to take
advantage of this, So let memake this as easy as possible for you
and the follow through. And Ithink that's one of the things that is
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separates Time Bank is that they followthrough with everything to make it as easy
as possible for the customer. AndI think that's follow through is so important
these days because people just don't doit. They follow through on everything.
You know, let's talk a littlebit about nonprofits charities giving back to the
communities we serve. Molly, I'llstart with you, Nick, I'll then
go to you for this exact samequestion. But you know, obviously running
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multiple supermarkets across our state, beingembedded in the community, your family's name
is really well known throughout the greaterManchester area. But I see you out
there. I know there's certain charitiesthat are more important than others. But
what is one organization that really standsout to you that you would like to
talk about and tell me why it'simportant for you to have that community connection.
He's just one I don't know ifI rebuilding Manchester, Rebuilding Manchester I
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love and you know, I thinkthere's one thing special about that is that
Dime had their blue crew out.They were They're just you know, these
wonderful people that come out and theyvolunteer on their own time and they they
they they're they some you know,they just do a wonderful job at just
being part of the community. Andyou can tell every single person that comes
they have a big smile on theirface and they want to be there.
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And I think one of the otherthings, you know is Conecticut Food Share.
That's another thing that you know,Dime continues to support. And I
and I really think that you know, again, all these different nonprofits they
come together and you know it's youfeel the being a community while you're out
with them volunteering in the community.But talk about you and your position working
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with these nonprofits and getting why whyis it important to you to do that,
Because I know it starts from thetop, right, so your employees
look at you and like, wow, she's doing this, She's putting on
the hard hat and she's out there, you know, building a home or
doing this. And I know inyour grocery stores that you do support a
lot of events. You know,you have a lot of local posters.
And why is it important for youto get back to the community. You
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know, the number one thing wewouldn't exist if it wasn't for our community
supporting us. So we exist becauseour community comes, they shop with us,
and you know, they will justtell you what's important to them multiple
times. And so when you seevalue and you see what people are looking
for, you want to support themand support their missions and what they're the
goodwill that they're doing as well.So it's it's all about supporting your customers.
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And I think you support your customers, you're supporting your community. All
right, I'm going to ask maybean uncomfortable question, nix, so hold
on for a second before we getto your community impact. But you know,
Molly, you're a female leader inthis industry in an actually male dominated
field, especially in your profession.Right, I've gone to a lot of
the meetings, the USDA, thefood groups that this that. So what's
(16:21):
it like being a female leader,especially in your industry and then also dealing
with dying bank? Did you noticea difference were you? Was there anything
that you can say maybe to otherwomen that are in leadership positions that some
advice that you could have, becauseI know in our industry sometimes being a
female leader that there's some differences.Absolutely, I think that they take you
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as seriously. I think that's oneof the things that I was taken as
seriously as anybody else that walked in. You know, there's no you know
this is you know again, You'reimportant, You're you're a person, You're
important. It doesn't matter you knowwhat background you are. You're going to
come in there and you're going tobe treated with respect and compassion. Absolutely,
And I wanted to point that outbecause in other interviews that I've done
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with Nick in this room, you'vetalked about how much you support diversity,
how much you support all walks oflife, even even underserved people trying to
get loans for homes and things likethat. And I think that's another incredible
connection to the community Nick, thatyou offer people with din Bank, and
the connection to all of your employees. I follow you guys on social media.
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You guys would tease me like,oh, you're out everywhere your employees,
you guys are out in all thecommunities. I'm like a fangirl of
your Instagram and all of the world, and I'm like, wow, I
it's it's they're not even showing anypictures from within the bank. They're showing
pictures out in the community. Solet's start at the top and then you
can continue on with your answer.Why is it important for you as a
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leader to instill this community of feeling, this community growth? Is impact with
your employees, yeah, you know, and it's and it's it's really multifaceted.
But you touched on the diversity piece. That's super important to get different
perspectives from different walks of life,different genders, different ethnicities. The community
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is so diverse, and there areorganizations that are in dire need of help
somebody may have a personal connection to. There are other organizations that we support
that are larger and maybe not insuch financial need, but they serve in
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a very important function, whether itbe you know, again a homelessness or
healthcare or whatever it is. Youguys, animals too. I've noticed the
calendar. We also are our bigsupporters of military vets, Yes you are,
and and uh, you know,that's a big part of our community
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in southeastern Connecticut. So getting ateam of people assembled that can touch on
all of these different, you know, diverse groups within the community is super
important. It broadens our reach.Again, are we a national bank with
the deepest pockets no, we're not, but we want to have a tremendous
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impact in the area that we liveand work in because at the end of
the day, if our community benefits, we all personally benefit, right,
And that's that's really what it's allabout. And I constantly talk about this
with our employees. I was literallybefore we drove here this morning, at
an orientation session for our new employees, spoke to that we have about fifty
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percent of our new employees never workedat a bank before, And to me
early in my career, that wouldhave been like, Holy cal what are
you doing. You want bankers?Right? No, I like non bankers,
like people from diverse backgrounds, becauseyou're they're bringing a different perspective.
They're helping us think differently, they'rehelping us look at things differently, and
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they have different connections. So it'syou know, it's it's obviously part of
an awareness that's happening throughout our societyabout diversity and and that sort of thing,
but it's, uh, it's important, and it's you know, within
our management ranks. You can lookat our team. We have three directors
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that are that are women, oneof them coming out of social work,
very connected to the communities that havedire needs. We have a management team
that's very diverse and obviously an employeebase, so we continue to to focus
on that and UH and try tohave as much impact as possible. Dime
dash bank dot com for more informationfor all of your banking needs for all
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of their locations across New England.And also I would dare say, if
you are looking for a new careeror interested in a new career, as
Nick you just pointed out, let'sactually you don't have to go into every
position. But when you you know, I think I'm I'm of an age,
and Molly, I think I canspeak for you because we're you know,
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obviously we're friends outside of work,but I'm of the age. When
you say, oh, I'm workingat a bank, my brain goes to
teller my brain. But it's somuch more than that. So you don't
have to go through every department.But if someone is thinking about working for
an organization that is based in theircommunity, that wants to give back,
that wants to build a career,that wants to have stability and wants to
support community, you know, whatare the types of positions that Dine Bank
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offers. You know, it's agreat question, and you're right. I
think the way you just described youare thinking is way a lot of people.
Yeah, it's like, well Ineed to be a mathematician or I
need to tell her whatever it is. Well, listen, there are so
many jobs within our organization that aretransferable to any industry. Human resources technologlogy
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is becoming more and more important inbanking and in a lot of businesses.
You don't need to be a bankermarketing. I mean you could go down
the list our entire marketing team,none of them were bankers, and quite
honestly, and I've said that tothis to them, it's the best marketing
team I've ever worked with because theyhave a different perspective and it's diversity both
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age, background, experience. It'sreally great. And I think you know,
the other thing within an organization likeus is you can come in RENEE.
I know you don't want to bea teller, but if you did,
you could train me. We couldtrain you to be that, and
we would have another opportunity for youdown the road. We have a lot
of internal transfers going on where peoplemay start in one area the bank move
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to another. That's not an opportunitythat happens at every organization. It certainly
hasn't been in my career when I'veworked for larger banks, even though you
would think to the contrary. Sowe promote that career pathing. And again,
just because you're not a trained bankeror you're not math oriented, there
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are plenty of opportunities. We're gettingout to more job fairs. We're trying
to educate people in the employment marketas to what opportunities exist in our environment
and hopefully that you know, opensome doors for people and gets us some
real high quality employees and long termand life lifers if you will, if
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they so choose, and dime dashbankdot com is where you can go and
get more information about that dime dashbankdot com. Nick, you and your
team have been an absolute pleasure supportingiHeart communities and getting out there in the
communities that we serve, whether it'speople in pets, all of your donations,
all of your consideration for all someof the projects that we've had here,
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getting out meeting some of your teammembers who who actually you know,
when we're not in this building offsite, actually say how much they love
working for Dime Bank, and they'renot being told to say that, so
I really have enjoyed getting to knowyou and your entire team. I can't
thank you enough for being a partof iHeart Communities, Renee, thank you,
(24:18):
I appreciate that, but it hasbeen an absolute pleasure talking with you
over the months getting to know you. We wish you well in everything that's
coming your way, and really reallyappreciate this opportunity to share because I think
we're of like mind when it comesto community. Molly's the same way,
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and if I could, Renee,I just want to speak to one of
our employees, and this is areally unique situation that I don't think any
of us are going to experience again. But I just recognized an upcoming retirement
at Dime Bank of one of ouremployees who's been super involved in the community,
touched literally generations of family members.I'm not going to name her her
(25:06):
fully because she's a little shy aboutrecognition, but Karen is a forty eight
year employee of Dine Bank and it'sbeen lending money to people to buy their
first home to upgrade. Literally generationsof families have been touched by Karen,
and she's been an active volunteer innonprofits. The Chamber of Commerce can't thank
(25:29):
her enough. So if I canjust give Karen a shout out and a
thank you, She's what an exampleof what makes dimebank special. Hey Karen,
congratulations. It's super important and inthis day and age, a lot
of people don't focus on it asmuch as I think they should, and
this program brings that to light.Well, I think you can have all
the contacts in the world. It'srelationships and Molly, you brought it follow
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through and that's what it is.And I actually want to give Molly an
opportunity to and by the way,thank you. I get embarrassed. I'm
sorry dine dashbank dot com to getinformation there. But Mama Divina from Highland
Park Market. Before we wrap,I might as well give you a little
bit of a plug too. Howcan we follow you on social media platforms?
And you know, are you hiring? Because I might be looking Highland
Parkmarket dot com? Is it usonline? And we're always hiring. I
(26:12):
think that's the thing that again toNick's point, is that we want people
to come in to grow with us, to you know, get the basics,
learn stuff, but always there's opportunityfor growth and development within our organization.
And you're on social media platforms aswell, social media, follow us
on social media. It's you know, again, always something going on at
Highland Park Market and a generational familybusiness here in our state. What does
(26:36):
that meant to you to share yourfamily with the communities you serve? You
know, it's it's really special.We had my two nieces have started now
they're the fourth generation. So Ijust think it's really special that we've been
around for three generations and now startingwith the fourth working you know for the
store. It's it's fun to seethem grow and you know they are are
you one of the Divanni's And it'sbeen so much fun to see them like,
(26:57):
oh, roll their eyes on theregister and just you know again.
But they've got to start from thebottom up. And I think that's one
of the things that our dad did. Okay, you've got to learn every
department before you you know, goand grow within the organization. And I
think that was something that you know, that value that you're you're not above
anybody. You are the janitor somedays you are, you know, again,
the frontline person really taking care ofany issues and whatever customers are looking
(27:18):
for. And I think that passingalong those values is really important for the
next generation. And fundamentally that's thereason why you work so well with Dime
Bank. I mean you're saying nowyou're going into your fourth generation, but
for three full generations now you havebeen banking with with Dime Bank. And
it all started because of Jerry andthat relationship that you have with him,
enough to bring your family over,enough to bring your nonprofits over, to
(27:41):
share that community with Dime Bank.And that is the lasting impression that I
think that that din Bank will haveon this program as well. And just
to mention, Jerry has a favoritesandwich at Highland Parks and I'm not sure
Molly knows about, but one dayI may stop buy and grab a sandwich
for him. Because he's a he'sa great team member for us, has
(28:03):
done a great job working with Mollyand other clients. And that's what it's
all about, right, It's thatconnection and it goes both ways. He's
a big, big customer of HighlandPark. So me and Jerry are going
to come and get to the Iwant my meat loaf and you can Jerry,
get kind a sandwiched because I have, Like, right now, I
know that we've been talking for almostthirty minutes. I want everyone to know
(28:26):
the truth right now. I havenot stopped thinking about meat loaf this entire
time. They literally have not stopped. Because you'll deliver to sal tonight.
Okay, I get it to stalbecause it's like you can get a meal
too. They have prepared meals.You can just get it separate. I
mean, it's delicious. Maybe youcan share the recipe. I don't know
about that. Oh my god,did you see the shade? I just
got some shade from Molly Divanny fromHighland Park Market and at Kaplins and Dime
(28:48):
Bank. Thank you for being apart of her communities. Thank you for
both of you being great partners inour communities here in Connecticut. To hear
the show again, please visit mycommunity access dot com. Thanks guys,
thank you. Hey,
iHeart Communities. Thank you so muchfor listening. Din Renee Denino and one
of our proud partners in the community, Dime Bank. I love working with
Dime Bank, and I love whenI get a visit from their president and
CEO, Nick Kaplinson. Thank youso much for being here. Hey,
how are you, Renee? Greatto see you. It's great to see
you. Thank you for supporting iHeartCommunities and all the work we do in
(00:20):
the Connecticut community. We appreciate youso very much. But I'm also kind
of excited on the side right nowthat you brought in not only one of
my favorite people on the planet,one of my favorite people has one of
my favorite grocery stores on the planet, but also one of my dearest friends.
Hello, Molly de Vanny, It'snice to have you here. I
Renee. How are you? HighlandPark Market? I mean, you know,
I like the meat loaf, soI'm not understanding why I don't see
(00:42):
any right now. I know.I'm sorry. I truly am a little
bit at a loss for words orepic failure. So it's a big,
big failure. But I'll look toNick now for support. Listen, Oh,
Highland Park, well known community ownedor not community owned, but community
supported local business. I lived inManchester for the first five years of my
(01:03):
professional career. Highland Park is ainstitution in Manchester, Glastonburg, the whole
area. It's just tremendous. Whydon't know that, You say how many
locations you have? So we haveManchester, Glastonbury and Farmington and obviously there's
a Dime Bank connection here. Thereis. You know, we are so
proud to do business with a localbank. It's it's huge. It's you
(01:26):
walk in there and they know yourname. You don't wait, you are,
they're running and getting your stuff.It's almost like if you went to
a coffee shop and they were gettingyour coffee ready. That's the same thing
that you have that happens at DimeBanks. It's all about the customer.
It's all about taking care of theperson. They are amazing when you talk
about customer service. I've never hada problem. You know, you dread
going into other banks and I havea smile every time I walk into Dimebank.
(01:48):
We didn't even have to ask hera question. It was like cressgull
and it's wonderful to hear. Asa CEO of Dime Bank. I love
hearing happy customers absolutely, but actually, if you wouldn't mind, and obviously
I'm going to call on you againto Mali, but let me talk about
that personal connection with Connecticut businesses.Now. I know you help businesses not
only statewide, nationally depending on whatthey're looking for in services and commercial and
(02:13):
things like that. I mean alot of international businesses are based here in
Connecticut, right, But talk aboutwhen you're specifically dealing and supporting not only
local businesses but generational family owned businesses. Yeah, it really is the sweet
spot for us. And I wouldsay that we connect deeply with these types
of organizations because that's who we are. We are. I like to call
(02:37):
us a billion dollar small business.We really are. We focus on that
segment of the commercial market. Wehave one hundred and seventy employees that are
very dedicated to getting to know customersand their individual needs and being personable making
them feel comfortable. I always say, how do we different perentiate ourselves.
(03:00):
It's making people feel comfortable. It'snot just providing the product or the service,
getting them comfortable familiar with us,feeling like it is a positive experience,
just like Molly just said, Imean, I love hearing that she
has a smile on her face whenshe walks in and people know her name.
That's what it's all about. Andwe have a lot of clients that
(03:23):
are multi generational small businesses in thecommunities that they're in, and they tend
to gravitate to a bank like Dimerather than the large regional or national banks
because of that personal touch. We'vehad quite a wonderful partnership over the past
year. And one thing we shouldtouch on before we go any further,
Nick, is actually just the foundingand the reason why Dime Bank is so
(03:46):
special and the differences between a regularbank, a credit union, things like
that. You have something that's veryfundamentally different at the core of what Dime
Bank is and how you run yourbusiness. Maybe you could share that information
with sure. I mean, wewere started back in the mid eighteen hundreds
in Norwich, Connecticut by some prominentlocal business people and community leaders really to
(04:12):
help local communities and local residents,local small businesses. We are unlike some
of the larger banks in the sensethat we are not publicly traded, we
don't have shareholders, We're owned byour depositors by our customers and communities.
So as a result, we don'tfall under some of the modern day pressures
(04:34):
that people hear about profitability, bottomline orientation, short term decision making.
We're here for a multi generational,sustainable, community based model, and that
is becoming rarer and rarer in today'sbusiness climate. So that's a real difference
(04:59):
between us and some of the otherbanks that some of your listeners might know
of. You know, credit unionstraditionally have been geared towards very specific organizations
Teachers Credit Union or Pratt and Whitneyor what have you. They've expanded out
and become more like community banks,but don't fall under the same regulatory rules
(05:27):
and operate in a little bit differentenvironment. So we're really unique. And
there's a handful of community banks inConnecticut, mutual community banks. We represent
one of the more prominent ones inthe eastern portion of the state. Dime
dashbank dot com for more information,and that dash is important. Dime dash
bank dot com with locations across Connecticutand even Rhode Islands. Correct, all
(05:50):
right, and so people can getall that all the information they need.
And now, actually, Molly,I'd really like to turn things over to
you because you've grown up within afamily business. So you've grown up,
you've learned everything from behind the scenes. You know, when did you appreciate
or understand the finances behind it,the banking behind it, instead of just
like you know, stocking the shelvesor being the cute molly at the store.
(06:11):
Oh this is fun. But nowyou're like you're a boss lady.
Right, So now when did youthat so fun? Right? Oh?
I think you know that was oneof the things that I think as our
father was nearing the retirement age,he brought us in and you know,
really the value and what keeps youknow, business is going is the people,
right, So it's the people atDime Bank. I remember when Jerry
(06:33):
left the previous bank he was atHe's our you know, an incredible,
incredible representative. He left and wewere just crushed. And when he went
to Dime we were like die bank. Okay, okay, we've heard of
them, We've drive by them,and he and it just we were able
to transfer our relationship from our previousbank into a community bank because you know,
(06:53):
we're all about the small businesses andreally keeping the small businesses going.
And helping local farmers and you know, all of that is so important when
you talk about doing business, andyou know, it's what our communities thrive
on is the small businesses. Sowhen you go to Dime Bank and there
are a small bank and they understandyour needs and you talk to them,
it's just it's such a different experience. And I think that again, our
father brought us in to show usOkay, we've got a big choices to
(07:15):
make here. Do you want tostay with this where you're just where your
number amongst people? But the valueof being a person is very you know,
that's been his value in his lifeand what he took out of his
career. It's people matter more thananything else. And I think when you
do business with people that care aboutyou, it's it just that's that's what
matters. That's what brings your communitytogether, is people looking out for one
another. And just I think that'sone of the things that we had is
(07:39):
that the people that care were connectedand it's just been you know, okay,
this is this is what you guys. You know, you understood the
banking world when you went in andgot changed for your you know, the
order now all of a sudden,it's okay, now we've got to sign
on these loans, and now we'vegot to sign on this and try to
figure out who we want to havea banking relationship with. And that's been
wonderful Dime Dash Bank doc. Ijust wanted to remind people of that.
(08:01):
We're talking to Maley Devana. Sheis the president's CEO and owner of Highland
Park Market along with her amazing family. And of course we're here with Nick
Kaplinson, president and CEO of DimeBank. I actually want to get a
little bit more in depth into thatbank and business partner relationship. If someone's
listening right now, or a familyowned business is listening right now now,
actually, maybe I'll just sit downand let you two take over the show
(08:24):
for a second. You guys canbanter back and forth, but what's the
structure if someone calls you or goesinto one of your locations and says,
okay, I heard this interview withHighland Park Market. We're small family business,
but we do have satellite locations.We're growing, we're expanding, we're
thinking about changing or we're thinking aboutstarting. What's step one with the process.
So it's a great question, Renee, and I think what it boils
(08:48):
down to is, first off,determining what the needs are of the small
business. And in a lot ofcases it's very specific. It may be
financing, or maybe cash management servicesor just a deposit relationship. In other
instances, it's very broad based.And you know, again running a small
(09:11):
business, and I'm sure Molly wouldsay this as well, you're not just
the CEO, You're the HR director, you are the marketing team, you
mop the floors and take the garbageout. You have a very broad scope
of responsibility and small businesses, whetheryou're a building contractor landscaping company, manufacturer,
(09:35):
whatever it is, you're going tohave needs. And in a lot
of cases, small businesses come tous and say, you know, I
understand the financing piece. I dothat, I know how to reach out
to a commercial loan officer. Ihave no idea about cash management. Can
you help me? I actually haveno idea about cash management? Can you
help me? So it's what itreally blis, what it really boils down
(10:01):
to is is when that small businessowner comes in and makes that initial contact,
it's up to our team member toassess the situation. Determine need and
connect that individual with the appropriate personin Dinebank, and believe it or not,
we can do just about everything thatthe large banks can do. So
oh okay and Molly, before youjump in here and to talk about,
(10:24):
you know, maybe the process ofgoing in and starting, you know,
from square went, or maybe evenoffering inspiring advice. I was just going
to ask you quickly, Nick,are there types of businesses that you're more
able to help than others? Orreally it's a template and it doesn't matter
what their product is, whether it'syou know, grocery or retail or whatever
the case may be. Yeah,I mean, we have certain industries that
(10:48):
we've done a lot of work with. For example, the medical profession We
have dozens of clients that we've helpedover the years and a team that's very
dialed into medical dental, an expandingnetwork of medical providers. But we do
business with a lot of different industries, a lot of retailers, grocery stores,
(11:11):
manufacturers, again, small businesses likelandscapers. We do a lot of
real estate development financing, very verybroad based. And the other thing is,
you know what is small business andthat's kind of a moving target.
Some people. You know, again, I consider us a small business.
(11:33):
We're a billion dollars, but howmany employees one hundred and seventy right,
So small business could be you know, one person to I think, what
does the state say fifteen hundred orunder or something. It's like a number
that I don't know the stat rightnow, but I know it's a it's
a higher number than people would think. Yeah, but you know, we
have we have small businesses that operatein multiple states. We can help them,
(11:54):
We can finance things in other stateswe can So it's very much a
moving target. I think the mostimportant thing is to recognize that just because
we're a local, mutual community bankdoes not mean we're limited in the services
we can provide or the geography thatwe service. We can we can go
(12:16):
all over the place, and especiallyin today's world where a lot of business
can be done electronically, you don'teven have to come in to sign paperwork
for us, but you can't.We but we love we love it.
But we also recognize that there area lot of people who just uh,
you know, we just we justdid a financing project in Greenwich, Connecticut.
It's a long way to come toNorwich. We can do this electronically,
(12:39):
we can. You mentioned some otherstates that you need to so proximity
it doesn't matter. Which doesn't matter, but we do love to connect personally,
uh, and all of our peoplereally would love to see you face
to face because it gives us anopportunity to get to know you better.
You've to get to know us andform a more solid relationship than just pushing
(13:03):
a button on an iPhone or anonline banking relationship, right, And I
think that's you know, one ofthe things I brought one of the small
nonprofits that I run over there too, and to know the convenience and how
easily it was to transfer from youknow, one account to another. They
opened up everything for us. Wehad the right players room, They went
above and beyond to make sure thatthe process was simple. And not only
(13:26):
that, but okay, this isworking really well for you. But I
think that this is a good opportunityfor you if you take advantage of this.
If you you know, again they'relooking out for you as bankers.
You go in there and the managerJen will come running up to you and
saying, hey, listen, I'veseen this. I want you to take
advantage of this, So let memake this as easy as possible for you
and the follow through. And Ithink that's one of the things that is
(13:50):
separates Time Bank is that they followthrough with everything to make it as easy
as possible for the customer. AndI think that's follow through is so important
these days because people just don't doit. They follow through on everything.
You know, let's talk a littlebit about nonprofits charities giving back to the
communities we serve. Molly, I'llstart with you, Nick, I'll then
go to you for this exact samequestion. But you know, obviously running
(14:11):
multiple supermarkets across our state, beingembedded in the community, your family's name
is really well known throughout the greaterManchester area. But I see you out
there. I know there's certain charitiesthat are more important than others. But
what is one organization that really standsout to you that you would like to
talk about and tell me why it'simportant for you to have that community connection.
He's just one I don't know ifI rebuilding Manchester, Rebuilding Manchester I
(14:35):
love and you know, I thinkthere's one thing special about that is that
Dime had their blue crew out.They were They're just you know, these
wonderful people that come out and theyvolunteer on their own time and they they
they they're they some you know,they just do a wonderful job at just
being part of the community. Andyou can tell every single person that comes
they have a big smile on theirface and they want to be there.
(14:56):
And I think one of the otherthings, you know is Conecticut Food Share.
That's another thing that you know,Dime continues to support. And I
and I really think that you know, again, all these different nonprofits they
come together and you know it's youfeel the being a community while you're out
with them volunteering in the community.But talk about you and your position working
(15:16):
with these nonprofits and getting why whyis it important to you to do that,
Because I know it starts from thetop, right, so your employees
look at you and like, wow, she's doing this, She's putting on
the hard hat and she's out there, you know, building a home or
doing this. And I know inyour grocery stores that you do support a
lot of events. You know,you have a lot of local posters.
And why is it important for youto get back to the community. You
(15:37):
know, the number one thing wewouldn't exist if it wasn't for our community
supporting us. So we exist becauseour community comes, they shop with us,
and you know, they will justtell you what's important to them multiple
times. And so when you seevalue and you see what people are looking
for, you want to support themand support their missions and what they're the
goodwill that they're doing as well.So it's it's all about supporting your customers.
(15:58):
And I think you support your customers, you're supporting your community. All
right, I'm going to ask maybean uncomfortable question, nix, so hold
on for a second before we getto your community impact. But you know,
Molly, you're a female leader inthis industry in an actually male dominated
field, especially in your profession.Right, I've gone to a lot of
the meetings, the USDA, thefood groups that this that. So what's
(16:21):
it like being a female leader,especially in your industry and then also dealing
with dying bank? Did you noticea difference were you? Was there anything
that you can say maybe to otherwomen that are in leadership positions that some
advice that you could have, becauseI know in our industry sometimes being a
female leader that there's some differences.Absolutely, I think that they take you
(16:42):
as seriously. I think that's oneof the things that I was taken as
seriously as anybody else that walked in. You know, there's no you know
this is you know again, You'reimportant, You're you're a person, You're
important. It doesn't matter you knowwhat background you are. You're going to
come in there and you're going tobe treated with respect and compassion. Absolutely,
And I wanted to point that outbecause in other interviews that I've done
(17:03):
with Nick in this room, you'vetalked about how much you support diversity,
how much you support all walks oflife, even even underserved people trying to
get loans for homes and things likethat. And I think that's another incredible
connection to the community Nick, thatyou offer people with din Bank, and
the connection to all of your employees. I follow you guys on social media.
(17:26):
You guys would tease me like,oh, you're out everywhere your employees,
you guys are out in all thecommunities. I'm like a fangirl of
your Instagram and all of the world, and I'm like, wow, I
it's it's they're not even showing anypictures from within the bank. They're showing
pictures out in the community. Solet's start at the top and then you
can continue on with your answer.Why is it important for you as a
(17:47):
leader to instill this community of feeling, this community growth? Is impact with
your employees, yeah, you know, and it's and it's it's really multifaceted.
But you touched on the diversity piece. That's super important to get different
perspectives from different walks of life,different genders, different ethnicities. The community
(18:10):
is so diverse, and there areorganizations that are in dire need of help
somebody may have a personal connection to. There are other organizations that we support
that are larger and maybe not insuch financial need, but they serve in
(18:32):
a very important function, whether itbe you know, again a homelessness or
healthcare or whatever it is. Youguys, animals too. I've noticed the
calendar. We also are our bigsupporters of military vets, Yes you are,
and and uh, you know,that's a big part of our community
(18:53):
in southeastern Connecticut. So getting ateam of people assembled that can touch on
all of these different, you know, diverse groups within the community is super
important. It broadens our reach.Again, are we a national bank with
the deepest pockets no, we're not, but we want to have a tremendous
(19:18):
impact in the area that we liveand work in because at the end of
the day, if our community benefits, we all personally benefit, right,
And that's that's really what it's allabout. And I constantly talk about this
with our employees. I was literallybefore we drove here this morning, at
an orientation session for our new employees, spoke to that we have about fifty
(19:45):
percent of our new employees never workedat a bank before, And to me
early in my career, that wouldhave been like, Holy cal what are
you doing. You want bankers?Right? No, I like non bankers,
like people from diverse backgrounds, becauseyou're they're bringing a different perspective.
They're helping us think differently, they'rehelping us look at things differently, and
(20:07):
they have different connections. So it'syou know, it's it's obviously part of
an awareness that's happening throughout our societyabout diversity and and that sort of thing,
but it's, uh, it's important, and it's you know, within
our management ranks. You can lookat our team. We have three directors
(20:30):
that are that are women, oneof them coming out of social work,
very connected to the communities that havedire needs. We have a management team
that's very diverse and obviously an employeebase, so we continue to to focus
on that and UH and try tohave as much impact as possible. Dime
dash bank dot com for more informationfor all of your banking needs for all
(20:53):
of their locations across New England.And also I would dare say, if
you are looking for a new careeror interested in a new career, as
Nick you just pointed out, let'sactually you don't have to go into every
position. But when you you know, I think I'm I'm of an age,
and Molly, I think I canspeak for you because we're you know,
(21:14):
obviously we're friends outside of work,but I'm of the age. When
you say, oh, I'm workingat a bank, my brain goes to
teller my brain. But it's somuch more than that. So you don't
have to go through every department.But if someone is thinking about working for
an organization that is based in theircommunity, that wants to give back,
that wants to build a career,that wants to have stability and wants to
support community, you know, whatare the types of positions that Dine Bank
(21:38):
offers. You know, it's agreat question, and you're right. I
think the way you just described youare thinking is way a lot of people.
Yeah, it's like, well Ineed to be a mathematician or I
need to tell her whatever it is. Well, listen, there are so
many jobs within our organization that aretransferable to any industry. Human resources technologlogy
(22:00):
is becoming more and more important inbanking and in a lot of businesses.
You don't need to be a bankermarketing. I mean you could go down
the list our entire marketing team,none of them were bankers, and quite
honestly, and I've said that tothis to them, it's the best marketing
team I've ever worked with because theyhave a different perspective and it's diversity both
(22:22):
age, background, experience. It'sreally great. And I think you know,
the other thing within an organization likeus is you can come in RENEE.
I know you don't want to bea teller, but if you did,
you could train me. We couldtrain you to be that, and
we would have another opportunity for youdown the road. We have a lot
of internal transfers going on where peoplemay start in one area the bank move
(22:48):
to another. That's not an opportunitythat happens at every organization. It certainly
hasn't been in my career when I'veworked for larger banks, even though you
would think to the contrary. Sowe promote that career pathing. And again,
just because you're not a trained bankeror you're not math oriented, there
(23:11):
are plenty of opportunities. We're gettingout to more job fairs. We're trying
to educate people in the employment marketas to what opportunities exist in our environment
and hopefully that you know, opensome doors for people and gets us some
real high quality employees and long termand life lifers if you will, if
(23:34):
they so choose, and dime dashbankdot com is where you can go and
get more information about that dime dashbankdot com. Nick, you and your
team have been an absolute pleasure supportingiHeart communities and getting out there in the
communities that we serve, whether it'speople in pets, all of your donations,
all of your consideration for all someof the projects that we've had here,
(23:56):
getting out meeting some of your teammembers who who actually you know,
when we're not in this building offsite, actually say how much they love
working for Dime Bank, and they'renot being told to say that, so
I really have enjoyed getting to knowyou and your entire team. I can't
thank you enough for being a partof iHeart Communities, Renee, thank you,
(24:18):
I appreciate that, but it hasbeen an absolute pleasure talking with you
over the months getting to know you. We wish you well in everything that's
coming your way, and really reallyappreciate this opportunity to share because I think
we're of like mind when it comesto community. Molly's the same way,
(24:40):
and if I could, Renee,I just want to speak to one of
our employees, and this is areally unique situation that I don't think any
of us are going to experience again. But I just recognized an upcoming retirement
at Dime Bank of one of ouremployees who's been super involved in the community,
touched literally generations of family members.I'm not going to name her her
(25:06):
fully because she's a little shy aboutrecognition, but Karen is a forty eight
year employee of Dine Bank and it'sbeen lending money to people to buy their
first home to upgrade. Literally generationsof families have been touched by Karen,
and she's been an active volunteer innonprofits. The Chamber of Commerce can't thank
(25:29):
her enough. So if I canjust give Karen a shout out and a
thank you, She's what an exampleof what makes dimebank special. Hey Karen,
congratulations. It's super important and inthis day and age, a lot
of people don't focus on it asmuch as I think they should, and
this program brings that to light.Well, I think you can have all
the contacts in the world. It'srelationships and Molly, you brought it follow
(25:52):
through and that's what it is.And I actually want to give Molly an
opportunity to and by the way,thank you. I get embarrassed. I'm
sorry dine dashbank dot com to getinformation there. But Mama Divina from Highland
Park Market. Before we wrap,I might as well give you a little
bit of a plug too. Howcan we follow you on social media platforms?
And you know, are you hiring? Because I might be looking Highland
Parkmarket dot com? Is it usonline? And we're always hiring. I
(26:12):
think that's the thing that again toNick's point, is that we want people
to come in to grow with us, to you know, get the basics,
learn stuff, but always there's opportunityfor growth and development within our organization.
And you're on social media platforms aswell, social media, follow us
on social media. It's you know, again, always something going on at
Highland Park Market and a generational familybusiness here in our state. What does
(26:36):
that meant to you to share yourfamily with the communities you serve? You
know, it's it's really special.We had my two nieces have started now
they're the fourth generation. So Ijust think it's really special that we've been
around for three generations and now startingwith the fourth working you know for the
store. It's it's fun to seethem grow and you know they are are
you one of the Divanni's And it'sbeen so much fun to see them like,
(26:57):
oh, roll their eyes on theregister and just you know again.
But they've got to start from thebottom up. And I think that's one
of the things that our dad did. Okay, you've got to learn every
department before you you know, goand grow within the organization. And I
think that was something that you know, that value that you're you're not above
anybody. You are the janitor somedays you are, you know, again,
the frontline person really taking care ofany issues and whatever customers are looking
(27:18):
for. And I think that passingalong those values is really important for the
next generation. And fundamentally that's thereason why you work so well with Dime
Bank. I mean you're saying nowyou're going into your fourth generation, but
for three full generations now you havebeen banking with with Dime Bank. And
it all started because of Jerry andthat relationship that you have with him,
enough to bring your family over,enough to bring your nonprofits over, to
(27:41):
share that community with Dime Bank.And that is the lasting impression that I
think that that din Bank will haveon this program as well. And just
to mention, Jerry has a favoritesandwich at Highland Parks and I'm not sure
Molly knows about, but one dayI may stop buy and grab a sandwich
for him. Because he's a he'sa great team member for us, has
(28:03):
done a great job working with Mollyand other clients. And that's what it's
all about, right, It's thatconnection and it goes both ways. He's
a big, big customer of HighlandPark. So me and Jerry are going
to come and get to the Iwant my meat loaf and you can Jerry,
get kind a sandwiched because I have, Like, right now, I
know that we've been talking for almostthirty minutes. I want everyone to know
(28:26):
the truth right now. I havenot stopped thinking about meat loaf this entire
time. They literally have not stopped. Because you'll deliver to sal tonight.
Okay, I get it to stalbecause it's like you can get a meal
too. They have prepared meals.You can just get it separate. I
mean, it's delicious. Maybe youcan share the recipe. I don't know
about that. Oh my god,did you see the shade? I just
got some shade from Molly Divanny fromHighland Park Market and at Kaplins and Dime
(28:48):
Bank. Thank you for being apart of her communities. Thank you for
both of you being great partners inour communities here in Connecticut. To hear
the show again, please visit mycommunity access dot com. Thanks guys,
thank you. Hey,
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Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
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If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.