There’s a convenient Dime Bank location near you:
Celebrating an Award-Winning Team — Dime Bank Community of Employees: Rebecca L. Frechette, OFFICERS: Denise M. Magario, Laraine C. Cellucci, Shalin M. Peck, Corporate Officer, ViceB.President, Vice President, Julie Paige Dest, Assistant Vice President, Mildred TedAssistant W. Burrows, L. O’Connor, PRESIDENT E. Devine, Nicholas Caplanson, Lyme Branch Manager Loan Originations Stonington Branch Manager Deposit Operations/ Compliance, BSA Officer Loan Workout & Collections Credit Manager TrustEast Officer Nicholas Caplanson, President, CEO Joanne L. Gagnon, Deborah L. Malone, Allison C. Cone, eBanking Manager Manager Denise J. Magario, Kevin S. Owren, Rebecca L. Frechette, Cheryl A. Calderado, Chief Executive Officer Corporate Officer, Vice President, Controller Assistant Vice President, Meg M. Polubiatko, Residential Lender Donna M. Ceccarelli, Westerly Branch Manager East Lyme Branch Manager Manager Senior Vice President, Loan Closing Kimberly J. Misenti, Operations Admin. Officer Assistant Vice President, Corporate Administration, Sales, Service Deborah L. Malone, Robert T. Greatorex, M. Peck, Lending Joanne L. Gagnon, Vice President, Loan John V.Branch Estelle,Manager Shalin Residential SENIOR VICE PRESIDENTS and Marketing Officer, Operations Manager Assistant Vice President, Deposit Controller Joan Operations/ A. Simoneau, Laraine C. Cellucci, LoanCorporate Closing Manager Robert Giffen, Underwriter Joan M.J.Nagle, Cheryl A. C. Calderado, Commercial Lending Assistant Vice President, Robert Stonington Branch Manager eBanking Manager Kimberly Misenti, T. Greatorex, Senior Vice President, Julie L. Lumpkins, Vice President, Christopher J. Gauthier, Loan Servicing Manager Administration, Sales, Services Loan Operations Manager Allison C. Cone, Meg M. Polubiatko, Underwriter Corporate Officer, Retail Banking Assistant Vice President, Deirdre C. Sullivan, & Commercial Marketing Lending Operations Administration Residential Joan M. Nagle, L. Lumpkins, Anthony A. Joyce III, Research Officer Diane G. Papadakos, Commercial Lending AssistantLender Vice President, JulieMarketing Robert Giffen, SeniorC.Vice President, Branch Administrator MonicaResearch R. MacNeil, Joan A. Simoneau, Officer Vice President, Director of Officer Andrew H. Harvey, Executive Administrator Marketing Commercial Lending Credit Administration Corporate Officer, Marketing and Sales Assistant Vice President, Loan and Project Manager Manager John V. Estelle, Servicing Diane G. Papadakos, Monica R. MacNeil, ThomasA. N.Joyce McAvoy, Montville Branch Manager Shawnof J. Pishka, Anthony III, Jr., Information Security Catherine R. Tiffany, Commercial Lender Director Deirdre C. Sullivan, Montville Branch Manager Senior ViceOfficer President, Colleen E. Miller, Vice President, John P. Keating, Assistant Vice President, Chief Credit & Sales Christopher J. Gauthier, Executive Administrator Colleen E. Miller, Trust and Investment Services Marketing Corporate Officer, Operations/Facilities Manager Assistant Vice President, Taftville Branch Manager Thomas McAvoy, Jr., Commercial Lender & Project Shawn Pishka, Ledyard Branch Manager Brian P.N.McNamara, Ledyard Branch Manager KarenJ. C. Roman, Finance Officer John J.Manager Allard, Trust & Investment Services Senior Vice President, Operations/Facilities Cheryl A. Morin, Andrew Catherine R. Tiffany, Vice President, PeterH. R. Harvey, Lampasona, Corporate Officer, Cheryl A. Morin, Brian Lending P. McNamara, Residential Lending Assistant Security Vice President, Taftville Manager DimeBranch Investment ServicesLoanCorporate Information Manager ProcessingOfficer, Manager David J. Stanland, Loan Processing Manager JohnC.C.Roman, Adams, Chief Lending Officer Retail Operations James V. Burns, Officer Karen Nancy M. Potter, Senior Vice President, CFO, Nancy M. Potter, Assistant Vice President, Lorie B. Mocek, CorporateOFFICERS Officer, CORPORATE David J. Stanland, Residential Lender John P. Keating, London Branch Manager Treasurer Officer, Technology Officer Assistant Vice President, Dime Investment ServicesNewCorporate Chief Financial Officer, Finance Officer Anthony G. Antoch, London Branch Manager Cheryl A. Blanchard, Norwichtown Branch Melissa L. Colli, John J. Allard, LynnNew B. Roberts, Treasurer ASSISTANT PRESIDENTS Peter R. Lampasona, Jr., Vice President, B. Roberts, Officer Assistant VICE Vice President, Manager Corporate Officer, Registered Representative TrustLynn Administration Commercial Lending Retail Operations Manager Corporate Officer, Trust and Investment Services Julie L. O’Connor, Marketing Community John C. Adams, V. Burns, Darlene Serra, VICE PRESIDENTS Robert Buckley, TrustA.Administration Officer Ted W. Burrows, Assistant Vice President, James Relations Officer Lorie B. Mocek, Technology Manager Financial Advisor Benefits & Payroll Manager Vice President, Darlene A. Serra, Assistant Vice President, Credit Manager Mildred E. Devine, Norwichtown Branch Anthony G. Antoch, Commercial Lending Corporate Officer, Cheryl Blanchard, LoanA. Operations Kevin S. Owren, Melissa L. Colli,Officer, Corporate Heather A. Smith, Manager Commercial Lender Paige B. Dest, Payroll and Benefits Manager Donna Advisor M. Ceccarelli, Assistant Vice President, Marketing Trust Services Financial Community Accounting Supervisor Vice President, Heather A. Smith, Assistant Vice President, Westerly Branch Manager Relations Officer Robert R. Buckley,Compliance Corporate Officer, Corporate Branch Manager Commercial Lender Accounting Supervisor Jesse R. Aguilar Phyllis A. Alexander Nicole A. Baker Benjamin Z. Barning Mary Anne Bastien Jacquelyn A. Baudro Graham P. Benedict Brian D. Bergeron Sandra A. Blanchard Michelle L. Boiselle Kathleen M. Bolton-Kelley Catherine H. Brosnan Cheryl E. Brown Jason L. Brown Andrea P. Bundy Laura L. Burdick Brett Caisse Ovidio Chaparro Stacey Chauvin Cheryl A. Chmielewski Julie A. Cinami Laura J. Citrak Samantha A. Corey Gina M. Cote Suzanne S. Davis Luz C. Dickinson Amber R. Digangi
71410_DimeBank_AnnualRpt.indd 2
Kathleen A. Donahue Diane L. Eichner Rachel Engle Gale E. Ennis Paul Espinosa Corrie A.J. Faille Andrew G. Fitch Wendy A. Fitzgerald John W. Florence Kyle Fracchia Chelsea A. Funk Sandra P. Gaitan Daisy Garcia Karyn L. Garside Terri L. Gaskell Erica L. Gee Gina Godish Maureen Goff Stephanie M. Gromko Sandra L. Hill Elin E. Hill Maggie Jacksin Indu Jain Paula A. Jello Jasmine M. Julia Geoffrey M. Kisby Lisa A. Krauss
Colette C. Ladd Nicole Lafayette Debra Lewis Maurya Locas Sheila K. Maheu Pauline A. Mandry Christine I. Manseau Thomas J. Markert = Melissa Mathieu Janet E. Maulucci Matthew F. Mauro Tammie McClure Michelle McDonough Mary-Ellen McLaughlin Jillian A. Melton Wendy A. Michaud Laura Miles Karen L. Miller Jeanna F. Miner Susan G. Mocek Ann L. Moore Cindy A. Moran Richard J. Moran Katherine E. Morano Cathy M. Morton Brandishea Moses Tamie L. Murray
Austin Newsome Nancy O’Brien Edward F. Olenkiewicz Brenda Pappagallo Keona S. Peake Allison W. Perkins Belinda L. Pero Joanne Perras Kathleen R. Phipps Jennifer Piner Amber M. Platt Merlin S. Rajamohan Brenda Ramesar Melissa A. Raymond Harry D. Reed Aaron L. Rekas Korine L. Reynolds Samantha J. Rivera Maureen Rondeau Theresa K. Salas Ryan Savage Della M. Schimmel Cidalia M. Schott Anne N. Scribner Lynn P. Semmelrock Mary Shaw Ana M. Shephard
Robin M. Sieczkowski Melanie Smith Geraldine Smith Randy Sperry Deborah C. Stearns Kathleen A. Strenkowski Bryan D. Sweet Marilyn L. Taylor Erin E. Tirrell Susanne Tracey Amanda L. Turner Janelin Vasquez Rosanne H. Viadella John M. Vincent Michelle K. Walenczyk Lynn C. Wallace Jessica Watrous Ashley L. Webster Nicole Wilkins Sheena Works Mary E. Youmans Gail A. Zagarenski Anne F. Zeppieri
= Passed away this year
NORWICH CORPORATE* 290 Salem Turnpike; Norwich, CT 06360 860.859.4300
NEW LONDON* (In Shaw’s Cove) 668 Bank Street; New London, CT 06320 860.437.4366
NORWICH DOWNTOWN* 33 Broadway; Norwich, CT 06360 860.889.2318
NEW LONDON* (In ShopRite) 351 North Frontage Road; New London, CT 06320 860.437.6222
NORWICHTOWN* 115 West Town Street; Norwich, CT 06360 860.892.4047
STONINGTON BOROUGH* 4 Cannon Square; Stonington, CT 06378 860.535.0034
TAFTVILLE* 630 Norwich Avenue; Taftville, CT 06380 860.887.0554
WESTERLY* 131 Franklin Street; Westerly, RI 02891 401.596.4744
EAST LYME* 18 Chesterfield Road; East Lyme, CT 06333 860.739.2192
ATM ONLY LOCATIONS
LEDYARD* 744 Colonel Ledyard Highway; Ledyard, CT 06339 860.464.8925 MONTVILLE* 563 Norwich-NL Turnpike; Montville, CT 06382 860.848.0659
Our timeless mission:
Backus Hospital 326 Washington Street; Norwich, CT 06360 Near Gift Shop & in Emergency Department Norwich Free Academy (In Atrium Building) 305 Broadway; Norwich, CT 06360 Fiddleheads Food Co-op 13 Broad Street; New London, CT 06320 *ATM Locations
Dime Bank will remain a mutual, community-oriented financial institution offering competitive products to meet the needs of consumers, businesses, non-profits, and municipalities. The hallmark of Dime is the personalized manner in which it serves its customers and supports its communities. Dime Bank is committed to providing a positive work environment where employees are valued and respected.
CELEBRATING AWARDWINNING COMMUNITY BANKING
A word about our awards: While being a community bank has its own rewards, in 2012, Dime Bank was honored to receive several noteworthy recognitions from our employees, our peers, and the communities we serve. The Commercial Record, a leading business and financial media for Connecticut, compiled opinions through surveys to recognize Dime Bank in a number of significant ways — Best Commercial Lending Bank (gold), Best Residential Mortgage Lender (gold) and Best Community Bank (silver).
DIME BANK 2012 ANNUAL REPORT
Because of his dedication of service to both Dime Bank and to the community, Nick Caplanson, President/CEO, was honored with a Community Bank Heroes Award presented by The Warren Group. Cheryl Calderado, Senior Vice President/Human Resources, received recognition as a Women of Fire — being among the brightest leaders in the Finance, Insurance and Real Estate sectors. While recognition by our peers is heartfelt and humbling, we were especially proud to be selected among the Top Workplaces in Connecticut based on employee opinions, in a survey moderated by The Hartford Courant. For the year ahead, our entire team will proudly display a “Top Workplace” pin on their lapels. As we conclude this award-winning year, we thank all involved for celebrating Dime Bank’s mission and outstanding team. We will continue to work hard to earn your confidence and loyalty. Member FDIC | dime-bank.com
Equal Housing Lender
3/12/13 11:59 AM
71410_DimeBank_AnnualRpt.indd 1
$729.8 M
$707.1 M
$679.4 M
for another management transition in 2013 when senior commercial lender, Bob Giffen, also plans to retire.
$634.1 M
I will admit that I have a very 2012 contributed more than $350,000 and over 7,000 biased view of Dime Bank. I hours of volunteer time to organizations throughout think we provide great service the communities we serve. to our customers, employ the The sluggish economy, especially in southeastern best team of people, and supConnecticut and Rhode Island, has caused many of port our communities with a our customers to face financial challenges stemming tremendous sense of pride and from unemployment or underemployment. We have responsibility. But in 2012, we been working with many of these people and their were also recognized by our families to restructure their financial obligations, help peers, our customers, and our them stay in their homes, and work through this employees as an award-winning difficult economic cycle. We view relationships with community bank. The back Nicholas Caplanson, our customers as long-term partnerships and are comPresident and CEO cover of this year’s annual mitted to making things work for both the customer report summarizes these awards and the Bank. Although 2013 and the special meaning they looks to be another challenghave for us. I will say that I am ing year for the economy and most proud of our selection as the housing market, we are a Top Workplace by our team well-positioned to continue of over 180 employees, who our profitable growth and to participated in an anonymous offer support for customers in survey conducted by The Hartneed of assistance. ford Courant and FOX CT. I strongly believe that receiving We also remain very comthese 2012 awards is evidence mitted to improving how we that we are achieving and deliver our products and serBlue Crew volunteers at the 2012 Diabetes Walk succeeding in our mission to vices especially as it relates to be the best community bank. customer convenience. This is During the past year, we accomplished some very imone of the primary reasons why customers bank with pressive financial goals, completed our second phase us. During the Fall of 2012, we established another of senior management transition and continued to retail ATM location at the Fiddleheads Food Co-op prepare the Bank for future growth. in New London. This is our third retail location in the city, and we are extremely pleased and appreciative 2012 was a year where we experienced very signifiof the local community support. cant increases in business. Our lenders originated a record $235 million in commercial and residential Our experienced lending team worked especially loans. Deposit growth hard during this past year to bring about all-time approached $19 million, record levels of loan originations. Historic low assets reached almost interest rates and our long standing reputation for $730 million, and our excellent service resulted in robust commercial loan capital levels increased to portfolio growth and strong demand for residential approximately $74 million. loans. These are all very positive numbers especially given All of this occurred during a year where we continthe lagging economy ued to transition our management team and reposiin our market area. We tion ourselves for the future. During July, longtime remained a responsible lender and senior officer, Chuck Treat, retired after New ATM location in New London corporate citizen, and in more than thirty one years of service to the Bank. Upon Chuck’s retirement we announced the next step in structuring the Bank for the future by combining our residential and commercial loan areas into one lending division. This provided career opportunities for internal officers and also helped us prepare
In addition, this past November, Dr. Michael Betten retired from our board following fifteen years as a director. His contributions to the bank are too numerous to mention in this short message, but I will say that he approached everything with a sense of admirable responsibility. Always looking out for the Bank and with an eye toward our important role as a community resource, Dr. Betten is a true advocate for Dime and community banking. On behalf of the board of directors, and with a great level of respect, I thank Dr. Betten for his years of service. He now joins a prestigious and limited group of lifetime honorary corporators who continue to remain friends of the Bank. In conclusion, I want to thank our employees, directors and corporators for their support and hard work during this past year. We continue to move forward as a very strong and successful community bank, valuing all relationships, and are committed to contributing to the quality of life in our region. Our unique structure, as a mutual financial institution, allows us to approach our operations with a longterm perspective. This approach has seen us through countless economic cycles since 1869, and I am extremely confident that we will continue to persevere through the current climate of regulatory burdens and economic challenges with strength and clear direction. It is not our objective to meet the expectations of our stakeholders, but to exceed them.
FINANCIAL DATA STATEMENT OF CONDITION At December 31 (dollars in thousands)
2012
2011
ASSETS Cash and investments 160,431 154,970 $ $ Loans: Consumer residential 235,317 255,933 Consumer 2,875 3,471 Commercial mortgages 200,334 174,500 Commercial 92,203 75,938 Gross loans 530,729 509,842 BOARD OF DIRECTORS: Front Row – James M. Kirker, Attorney, James M. Kirker, P.C.; Linda L. Mariani, Attorney, Senior Partner, Mariani & Loan loss reserves (5,642) (5,372) Reck; Nicholas Caplanson, President, CEO, Dime Bank; Vincent J. Naccarato, Attorney, Principal Partner, Naccarato & Fracassa; Loans, net 525,087 504,470 Back Row – Robert A. Staley, Retired Managing Director, Cornerstone Real Estate Advisers; Mark E. Tramontozzi, MD, General/Vascular Other assets 44,289 47,743 Total Assets
$
729,807
$
707,183
Surgeon, The William W. Backus Hospital; Lee-Ann Gomes, Supervisor of Social Work, Norwich Human Services; Roland J. Harris, Site Development and Land Planning Consultant
CORPORATORS LIABILITIES AND CAPITAL Liabilities: Deposits Borrowed funds Other liabilities Total liabilities Capital
$
$ 506,474 132,897 16,819 656,190 73,617
487,511 137,235 13,873 638,619 68,564
$
729,807
707,183
Total Liabilities & Capital
$
CONSOLIDATED STATEMENT OF INCOME For the year ended December 31 (dollars in thousands)
2012
2011
Dr. Sultan Ahamed Dr. Jan J. Akus Mr. William R. Allen Dr. Matthew D. Amaro Mr. Timothy S. Ashburner Dr. Tom P. Bell Mr. Neil H. Blinderman Mr. Steven L. Bokoff Mr. Kenneth J. Capano, Sr. Mr. Leo M. Chupaska Atty. George A. Comolli Atty. John A. Cotter Mr. James P. Cronin Mr. John C. D’Amato, Jr. Atty. Donald J. DiFrancesca
Net interest income 21,393 21,838 $ $ Operating income 4,566 4,067 One time financial recovery 0 2,822 Operating expenses (24,832) (23,173) Net Operating Income Net gains/(losses) Provision for income taxes Net Income
HONORARY CORPORATORS
Includes Members of the Board and:
$
1,127 3,973 (1,081)
$
4,019
$
$
Ms. Maria C. Miranda Ms. Deborah A. Monahan Dr. Ricardo Ochoa Mr. Todd C. Postler Mr. Mark H. Powers Mr. Robert P. Reed The Honorable Linda M. Salafia, ret. Mr. Edward K. Schilke Mr. John M. Smith Ms. Susan E. Soderberg Mr. David A. Whitehead Mr. Charles C. Whitty Ms. Jenny C. Wronowski
Mr. Frederic B. Allyn, Jr. Dr. Francis M. Baldino Dr. Michael G. Betten* Mr. Craig F. Bode* Ms. Hazel Judith Brown* Mr. Francis J. Buckley, Jr.* Mr. Ralph G. Fargo, Sr. Mr. Paul M. Higgins, Jr.* Mr. Walter W. Juzwic Ms. Nancy S. Klotz Mr. Clifford P. Kumpf, Sr. Mr. Leonard A. Levine Dr. Leland D. Loose Ms. Mary R. Miskiewicz Mr. Jerome T. Rogers* Ms. Esther B. Williams *Retired Directors
SPECIAL RECOGNITION Our deepest gratitude to Michael G. Betten, M.D., who retired from Dime’s Board of Directors in November 2012. Originally serving as a Dime Corporator beginning in 1992, he went on to become a Director in September 1997. Dr. Betten, a retired ophthalmologist and partner in the Norwich Ophthalmology Group, practiced in Norwich for many years and was an integral part of our board of directors. We applaud his philanthropic spirit and wish him many years of health and happiness.
5,554 2,505 (2,216)
Ms. Catherine M. Foley Mr. William E. Geer Atty. Glenn M. Gordon Ms. Beverly J. Goulet Mr. Stephen M. Greene Mr. William J. Griffin IV Atty. Harry B. Heller Ms. Sharon H. Hewes Ms. Susan Howard Ms. Jennifer King Mr. Bruce A. Kirchner Atty. Thomas J. Liguori, Jr. Atty. Harold M. Lubin Mr. John B. Malia Mr. Joseph M. Mastronunzio
5,843
In 2012, I think we did just that! With best regards,
NICHOLAS CAPLANSON, President and Chief Executive Officer
“
We continue to move forward as a very strong and successful community bank, valuing all relationships, and are committed to contributing to the quality of life in our region.
” 3/12/13 11:59 AM
71410_DimeBank_AnnualRpt.indd 1
$729.8 M
$707.1 M
$679.4 M
for another management transition in 2013 when senior commercial lender, Bob Giffen, also plans to retire.
$634.1 M
I will admit that I have a very 2012 contributed more than $350,000 and over 7,000 biased view of Dime Bank. I hours of volunteer time to organizations throughout think we provide great service the communities we serve. to our customers, employ the The sluggish economy, especially in southeastern best team of people, and supConnecticut and Rhode Island, has caused many of port our communities with a our customers to face financial challenges stemming tremendous sense of pride and from unemployment or underemployment. We have responsibility. But in 2012, we been working with many of these people and their were also recognized by our families to restructure their financial obligations, help peers, our customers, and our them stay in their homes, and work through this employees as an award-winning difficult economic cycle. We view relationships with community bank. The back Nicholas Caplanson, our customers as long-term partnerships and are comPresident and CEO cover of this year’s annual mitted to making things work for both the customer report summarizes these awards and the Bank. Although 2013 and the special meaning they looks to be another challenghave for us. I will say that I am ing year for the economy and most proud of our selection as the housing market, we are a Top Workplace by our team well-positioned to continue of over 180 employees, who our profitable growth and to participated in an anonymous offer support for customers in survey conducted by The Hartneed of assistance. ford Courant and FOX CT. I strongly believe that receiving We also remain very comthese 2012 awards is evidence mitted to improving how we that we are achieving and deliver our products and serBlue Crew volunteers at the 2012 Diabetes Walk succeeding in our mission to vices especially as it relates to be the best community bank. customer convenience. This is During the past year, we accomplished some very imone of the primary reasons why customers bank with pressive financial goals, completed our second phase us. During the Fall of 2012, we established another of senior management transition and continued to retail ATM location at the Fiddleheads Food Co-op prepare the Bank for future growth. in New London. This is our third retail location in the city, and we are extremely pleased and appreciative 2012 was a year where we experienced very signifiof the local community support. cant increases in business. Our lenders originated a record $235 million in commercial and residential Our experienced lending team worked especially loans. Deposit growth hard during this past year to bring about all-time approached $19 million, record levels of loan originations. Historic low assets reached almost interest rates and our long standing reputation for $730 million, and our excellent service resulted in robust commercial loan capital levels increased to portfolio growth and strong demand for residential approximately $74 million. loans. These are all very positive numbers especially given All of this occurred during a year where we continthe lagging economy ued to transition our management team and reposiin our market area. We tion ourselves for the future. During July, longtime remained a responsible lender and senior officer, Chuck Treat, retired after New ATM location in New London corporate citizen, and in more than thirty one years of service to the Bank. Upon Chuck’s retirement we announced the next step in structuring the Bank for the future by combining our residential and commercial loan areas into one lending division. This provided career opportunities for internal officers and also helped us prepare
In addition, this past November, Dr. Michael Betten retired from our board following fifteen years as a director. His contributions to the bank are too numerous to mention in this short message, but I will say that he approached everything with a sense of admirable responsibility. Always looking out for the Bank and with an eye toward our important role as a community resource, Dr. Betten is a true advocate for Dime and community banking. On behalf of the board of directors, and with a great level of respect, I thank Dr. Betten for his years of service. He now joins a prestigious and limited group of lifetime honorary corporators who continue to remain friends of the Bank. In conclusion, I want to thank our employees, directors and corporators for their support and hard work during this past year. We continue to move forward as a very strong and successful community bank, valuing all relationships, and are committed to contributing to the quality of life in our region. Our unique structure, as a mutual financial institution, allows us to approach our operations with a longterm perspective. This approach has seen us through countless economic cycles since 1869, and I am extremely confident that we will continue to persevere through the current climate of regulatory burdens and economic challenges with strength and clear direction. It is not our objective to meet the expectations of our stakeholders, but to exceed them.
FINANCIAL DATA STATEMENT OF CONDITION At December 31 (dollars in thousands)
2012
2011
ASSETS Cash and investments 160,431 154,970 $ $ Loans: Consumer residential 235,317 255,933 Consumer 2,875 3,471 Commercial mortgages 200,334 174,500 Commercial 92,203 75,938 Gross loans 530,729 509,842 BOARD OF DIRECTORS: Front Row – James M. Kirker, Attorney, James M. Kirker, P.C.; Linda L. Mariani, Attorney, Senior Partner, Mariani & Loan loss reserves (5,642) (5,372) Reck; Nicholas Caplanson, President, CEO, Dime Bank; Vincent J. Naccarato, Attorney, Principal Partner, Naccarato & Fracassa; Loans, net 525,087 504,470 Back Row – Robert A. Staley, Retired Managing Director, Cornerstone Real Estate Advisers; Mark E. Tramontozzi, MD, General/Vascular Other assets 44,289 47,743 Total Assets
$
729,807
$
707,183
Surgeon, The William W. Backus Hospital; Lee-Ann Gomes, Supervisor of Social Work, Norwich Human Services; Roland J. Harris, Site Development and Land Planning Consultant
CORPORATORS LIABILITIES AND CAPITAL Liabilities: Deposits Borrowed funds Other liabilities Total liabilities Capital
$
$ 506,474 132,897 16,819 656,190 73,617
487,511 137,235 13,873 638,619 68,564
$
729,807
707,183
Total Liabilities & Capital
$
CONSOLIDATED STATEMENT OF INCOME For the year ended December 31 (dollars in thousands)
2012
2011
Dr. Sultan Ahamed Dr. Jan J. Akus Mr. William R. Allen Dr. Matthew D. Amaro Mr. Timothy S. Ashburner Dr. Tom P. Bell Mr. Neil H. Blinderman Mr. Steven L. Bokoff Mr. Kenneth J. Capano, Sr. Mr. Leo M. Chupaska Atty. George A. Comolli Atty. John A. Cotter Mr. James P. Cronin Mr. John C. D’Amato, Jr. Atty. Donald J. DiFrancesca
Net interest income 21,393 21,838 $ $ Operating income 4,566 4,067 One time financial recovery 0 2,822 Operating expenses (24,832) (23,173) Net Operating Income Net gains/(losses) Provision for income taxes Net Income
HONORARY CORPORATORS
Includes Members of the Board and:
$
1,127 3,973 (1,081)
$
4,019
$
$
Ms. Maria C. Miranda Ms. Deborah A. Monahan Dr. Ricardo Ochoa Mr. Todd C. Postler Mr. Mark H. Powers Mr. Robert P. Reed The Honorable Linda M. Salafia, ret. Mr. Edward K. Schilke Mr. John M. Smith Ms. Susan E. Soderberg Mr. David A. Whitehead Mr. Charles C. Whitty Ms. Jenny C. Wronowski
Mr. Frederic B. Allyn, Jr. Dr. Francis M. Baldino Dr. Michael G. Betten* Mr. Craig F. Bode* Ms. Hazel Judith Brown* Mr. Francis J. Buckley, Jr.* Mr. Ralph G. Fargo, Sr. Mr. Paul M. Higgins, Jr.* Mr. Walter W. Juzwic Ms. Nancy S. Klotz Mr. Clifford P. Kumpf, Sr. Mr. Leonard A. Levine Dr. Leland D. Loose Ms. Mary R. Miskiewicz Mr. Jerome T. Rogers* Ms. Esther B. Williams *Retired Directors
SPECIAL RECOGNITION Our deepest gratitude to Michael G. Betten, M.D., who retired from Dime’s Board of Directors in November 2012. Originally serving as a Dime Corporator beginning in 1992, he went on to become a Director in September 1997. Dr. Betten, a retired ophthalmologist and partner in the Norwich Ophthalmology Group, practiced in Norwich for many years and was an integral part of our board of directors. We applaud his philanthropic spirit and wish him many years of health and happiness.
5,554 2,505 (2,216)
Ms. Catherine M. Foley Mr. William E. Geer Atty. Glenn M. Gordon Ms. Beverly J. Goulet Mr. Stephen M. Greene Mr. William J. Griffin IV Atty. Harry B. Heller Ms. Sharon H. Hewes Ms. Susan Howard Ms. Jennifer King Mr. Bruce A. Kirchner Atty. Thomas J. Liguori, Jr. Atty. Harold M. Lubin Mr. John B. Malia Mr. Joseph M. Mastronunzio
5,843
In 2012, I think we did just that! With best regards,
NICHOLAS CAPLANSON, President and Chief Executive Officer
“
We continue to move forward as a very strong and successful community bank, valuing all relationships, and are committed to contributing to the quality of life in our region.
” 3/12/13 11:59 AM
71410_DimeBank_AnnualRpt.indd 1
$729.8 M
$707.1 M
$679.4 M
for another management transition in 2013 when senior commercial lender, Bob Giffen, also plans to retire.
$634.1 M
I will admit that I have a very 2012 contributed more than $350,000 and over 7,000 biased view of Dime Bank. I hours of volunteer time to organizations throughout think we provide great service the communities we serve. to our customers, employ the The sluggish economy, especially in southeastern best team of people, and supConnecticut and Rhode Island, has caused many of port our communities with a our customers to face financial challenges stemming tremendous sense of pride and from unemployment or underemployment. We have responsibility. But in 2012, we been working with many of these people and their were also recognized by our families to restructure their financial obligations, help peers, our customers, and our them stay in their homes, and work through this employees as an award-winning difficult economic cycle. We view relationships with community bank. The back Nicholas Caplanson, our customers as long-term partnerships and are comPresident and CEO cover of this year’s annual mitted to making things work for both the customer report summarizes these awards and the Bank. Although 2013 and the special meaning they looks to be another challenghave for us. I will say that I am ing year for the economy and most proud of our selection as the housing market, we are a Top Workplace by our team well-positioned to continue of over 180 employees, who our profitable growth and to participated in an anonymous offer support for customers in survey conducted by The Hartneed of assistance. ford Courant and FOX CT. I strongly believe that receiving We also remain very comthese 2012 awards is evidence mitted to improving how we that we are achieving and deliver our products and serBlue Crew volunteers at the 2012 Diabetes Walk succeeding in our mission to vices especially as it relates to be the best community bank. customer convenience. This is During the past year, we accomplished some very imone of the primary reasons why customers bank with pressive financial goals, completed our second phase us. During the Fall of 2012, we established another of senior management transition and continued to retail ATM location at the Fiddleheads Food Co-op prepare the Bank for future growth. in New London. This is our third retail location in the city, and we are extremely pleased and appreciative 2012 was a year where we experienced very signifiof the local community support. cant increases in business. Our lenders originated a record $235 million in commercial and residential Our experienced lending team worked especially loans. Deposit growth hard during this past year to bring about all-time approached $19 million, record levels of loan originations. Historic low assets reached almost interest rates and our long standing reputation for $730 million, and our excellent service resulted in robust commercial loan capital levels increased to portfolio growth and strong demand for residential approximately $74 million. loans. These are all very positive numbers especially given All of this occurred during a year where we continthe lagging economy ued to transition our management team and reposiin our market area. We tion ourselves for the future. During July, longtime remained a responsible lender and senior officer, Chuck Treat, retired after New ATM location in New London corporate citizen, and in more than thirty one years of service to the Bank. Upon Chuck’s retirement we announced the next step in structuring the Bank for the future by combining our residential and commercial loan areas into one lending division. This provided career opportunities for internal officers and also helped us prepare
In addition, this past November, Dr. Michael Betten retired from our board following fifteen years as a director. His contributions to the bank are too numerous to mention in this short message, but I will say that he approached everything with a sense of admirable responsibility. Always looking out for the Bank and with an eye toward our important role as a community resource, Dr. Betten is a true advocate for Dime and community banking. On behalf of the board of directors, and with a great level of respect, I thank Dr. Betten for his years of service. He now joins a prestigious and limited group of lifetime honorary corporators who continue to remain friends of the Bank. In conclusion, I want to thank our employees, directors and corporators for their support and hard work during this past year. We continue to move forward as a very strong and successful community bank, valuing all relationships, and are committed to contributing to the quality of life in our region. Our unique structure, as a mutual financial institution, allows us to approach our operations with a longterm perspective. This approach has seen us through countless economic cycles since 1869, and I am extremely confident that we will continue to persevere through the current climate of regulatory burdens and economic challenges with strength and clear direction. It is not our objective to meet the expectations of our stakeholders, but to exceed them.
FINANCIAL DATA STATEMENT OF CONDITION At December 31 (dollars in thousands)
2012
2011
ASSETS Cash and investments 160,431 154,970 $ $ Loans: Consumer residential 235,317 255,933 Consumer 2,875 3,471 Commercial mortgages 200,334 174,500 Commercial 92,203 75,938 Gross loans 530,729 509,842 BOARD OF DIRECTORS: Front Row – James M. Kirker, Attorney, James M. Kirker, P.C.; Linda L. Mariani, Attorney, Senior Partner, Mariani & Loan loss reserves (5,642) (5,372) Reck; Nicholas Caplanson, President, CEO, Dime Bank; Vincent J. Naccarato, Attorney, Principal Partner, Naccarato & Fracassa; Loans, net 525,087 504,470 Back Row – Robert A. Staley, Retired Managing Director, Cornerstone Real Estate Advisers; Mark E. Tramontozzi, MD, General/Vascular Other assets 44,289 47,743 Total Assets
$
729,807
$
707,183
Surgeon, The William W. Backus Hospital; Lee-Ann Gomes, Supervisor of Social Work, Norwich Human Services; Roland J. Harris, Site Development and Land Planning Consultant
CORPORATORS LIABILITIES AND CAPITAL Liabilities: Deposits Borrowed funds Other liabilities Total liabilities Capital
$
$ 506,474 132,897 16,819 656,190 73,617
487,511 137,235 13,873 638,619 68,564
$
729,807
707,183
Total Liabilities & Capital
$
CONSOLIDATED STATEMENT OF INCOME For the year ended December 31 (dollars in thousands)
2012
2011
Dr. Sultan Ahamed Dr. Jan J. Akus Mr. William R. Allen Dr. Matthew D. Amaro Mr. Timothy S. Ashburner Dr. Tom P. Bell Mr. Neil H. Blinderman Mr. Steven L. Bokoff Mr. Kenneth J. Capano, Sr. Mr. Leo M. Chupaska Atty. George A. Comolli Atty. John A. Cotter Mr. James P. Cronin Mr. John C. D’Amato, Jr. Atty. Donald J. DiFrancesca
Net interest income 21,393 21,838 $ $ Operating income 4,566 4,067 One time financial recovery 0 2,822 Operating expenses (24,832) (23,173) Net Operating Income Net gains/(losses) Provision for income taxes Net Income
HONORARY CORPORATORS
Includes Members of the Board and:
$
1,127 3,973 (1,081)
$
4,019
$
$
Ms. Maria C. Miranda Ms. Deborah A. Monahan Dr. Ricardo Ochoa Mr. Todd C. Postler Mr. Mark H. Powers Mr. Robert P. Reed The Honorable Linda M. Salafia, ret. Mr. Edward K. Schilke Mr. John M. Smith Ms. Susan E. Soderberg Mr. David A. Whitehead Mr. Charles C. Whitty Ms. Jenny C. Wronowski
Mr. Frederic B. Allyn, Jr. Dr. Francis M. Baldino Dr. Michael G. Betten* Mr. Craig F. Bode* Ms. Hazel Judith Brown* Mr. Francis J. Buckley, Jr.* Mr. Ralph G. Fargo, Sr. Mr. Paul M. Higgins, Jr.* Mr. Walter W. Juzwic Ms. Nancy S. Klotz Mr. Clifford P. Kumpf, Sr. Mr. Leonard A. Levine Dr. Leland D. Loose Ms. Mary R. Miskiewicz Mr. Jerome T. Rogers* Ms. Esther B. Williams *Retired Directors
SPECIAL RECOGNITION Our deepest gratitude to Michael G. Betten, M.D., who retired from Dime’s Board of Directors in November 2012. Originally serving as a Dime Corporator beginning in 1992, he went on to become a Director in September 1997. Dr. Betten, a retired ophthalmologist and partner in the Norwich Ophthalmology Group, practiced in Norwich for many years and was an integral part of our board of directors. We applaud his philanthropic spirit and wish him many years of health and happiness.
5,554 2,505 (2,216)
Ms. Catherine M. Foley Mr. William E. Geer Atty. Glenn M. Gordon Ms. Beverly J. Goulet Mr. Stephen M. Greene Mr. William J. Griffin IV Atty. Harry B. Heller Ms. Sharon H. Hewes Ms. Susan Howard Ms. Jennifer King Mr. Bruce A. Kirchner Atty. Thomas J. Liguori, Jr. Atty. Harold M. Lubin Mr. John B. Malia Mr. Joseph M. Mastronunzio
5,843
In 2012, I think we did just that! With best regards,
NICHOLAS CAPLANSON, President and Chief Executive Officer
“
We continue to move forward as a very strong and successful community bank, valuing all relationships, and are committed to contributing to the quality of life in our region.
” 3/12/13 11:59 AM
There’s a convenient Dime Bank location near you:
Celebrating an Award-Winning Team — Dime Bank Community of Employees: Rebecca L. Frechette, OFFICERS: Denise M. Magario, Laraine C. Cellucci, Shalin M. Peck, Corporate Officer, ViceB.President, Vice President, Julie Paige Dest, Assistant Vice President, Mildred TedAssistant W. Burrows, L. O’Connor, PRESIDENT E. Devine, Nicholas Caplanson, Lyme Branch Manager Loan Originations Stonington Branch Manager Deposit Operations/ Compliance, BSA Officer Loan Workout & Collections Credit Manager TrustEast Officer Nicholas Caplanson, President, CEO Joanne L. Gagnon, Deborah L. Malone, Allison C. Cone, eBanking Manager Manager Denise J. Magario, Kevin S. Owren, Rebecca L. Frechette, Cheryl A. Calderado, Chief Executive Officer Corporate Officer, Vice President, Controller Assistant Vice President, Meg M. Polubiatko, Residential Lender Donna M. Ceccarelli, Westerly Branch Manager East Lyme Branch Manager Manager Senior Vice President, Loan Closing Kimberly J. Misenti, Operations Admin. Officer Assistant Vice President, Corporate Administration, Sales, Service Deborah L. Malone, Robert T. Greatorex, M. Peck, Lending Joanne L. Gagnon, Vice President, Loan John V.Branch Estelle,Manager Shalin Residential SENIOR VICE PRESIDENTS and Marketing Officer, Operations Manager Assistant Vice President, Deposit Controller Joan Operations/ A. Simoneau, Laraine C. Cellucci, LoanCorporate Closing Manager Robert Giffen, Underwriter Joan M.J.Nagle, Cheryl A. C. Calderado, Commercial Lending Assistant Vice President, Robert Stonington Branch Manager eBanking Manager Kimberly Misenti, T. Greatorex, Senior Vice President, Julie L. Lumpkins, Vice President, Christopher J. Gauthier, Loan Servicing Manager Administration, Sales, Services Loan Operations Manager Allison C. Cone, Meg M. Polubiatko, Underwriter Corporate Officer, Retail Banking Assistant Vice President, Deirdre C. Sullivan, & Commercial Marketing Lending Operations Administration Residential Joan M. Nagle, L. Lumpkins, Anthony A. Joyce III, Research Officer Diane G. Papadakos, Commercial Lending AssistantLender Vice President, JulieMarketing Robert Giffen, SeniorC.Vice President, Branch Administrator MonicaResearch R. MacNeil, Joan A. Simoneau, Officer Vice President, Director of Officer Andrew H. Harvey, Executive Administrator Marketing Commercial Lending Credit Administration Corporate Officer, Marketing and Sales Assistant Vice President, Loan and Project Manager Manager John V. Estelle, Servicing Diane G. Papadakos, Monica R. MacNeil, ThomasA. N.Joyce McAvoy, Montville Branch Manager Shawnof J. Pishka, Anthony III, Jr., Information Security Catherine R. Tiffany, Commercial Lender Director Deirdre C. Sullivan, Montville Branch Manager Senior ViceOfficer President, Colleen E. Miller, Vice President, John P. Keating, Assistant Vice President, Chief Credit & Sales Christopher J. Gauthier, Executive Administrator Colleen E. Miller, Trust and Investment Services Marketing Corporate Officer, Operations/Facilities Manager Assistant Vice President, Taftville Branch Manager Thomas McAvoy, Jr., Commercial Lender & Project Shawn Pishka, Ledyard Branch Manager Brian P.N.McNamara, Ledyard Branch Manager KarenJ. C. Roman, Finance Officer John J.Manager Allard, Trust & Investment Services Senior Vice President, Operations/Facilities Cheryl A. Morin, Andrew Catherine R. Tiffany, Vice President, PeterH. R. Harvey, Lampasona, Corporate Officer, Cheryl A. Morin, Brian Lending P. McNamara, Residential Lending Assistant Security Vice President, Taftville Manager DimeBranch Investment ServicesLoanCorporate Information Manager ProcessingOfficer, Manager David J. Stanland, Loan Processing Manager JohnC.C.Roman, Adams, Chief Lending Officer Retail Operations James V. Burns, Officer Karen Nancy M. Potter, Senior Vice President, CFO, Nancy M. Potter, Assistant Vice President, Lorie B. Mocek, CorporateOFFICERS Officer, CORPORATE David J. Stanland, Residential Lender John P. Keating, London Branch Manager Treasurer Officer, Technology Officer Assistant Vice President, Dime Investment ServicesNewCorporate Chief Financial Officer, Finance Officer Anthony G. Antoch, London Branch Manager Cheryl A. Blanchard, Norwichtown Branch Melissa L. Colli, John J. Allard, LynnNew B. Roberts, Treasurer ASSISTANT PRESIDENTS Peter R. Lampasona, Jr., Vice President, B. Roberts, Officer Assistant VICE Vice President, Manager Corporate Officer, Registered Representative TrustLynn Administration Commercial Lending Retail Operations Manager Corporate Officer, Trust and Investment Services Julie L. O’Connor, Marketing Community John C. Adams, V. Burns, Darlene Serra, VICE PRESIDENTS Robert Buckley, TrustA.Administration Officer Ted W. Burrows, Assistant Vice President, James Relations Officer Lorie B. Mocek, Technology Manager Financial Advisor Benefits & Payroll Manager Vice President, Darlene A. Serra, Assistant Vice President, Credit Manager Mildred E. Devine, Norwichtown Branch Anthony G. Antoch, Commercial Lending Corporate Officer, Cheryl Blanchard, LoanA. Operations Kevin S. Owren, Melissa L. Colli,Officer, Corporate Heather A. Smith, Manager Commercial Lender Paige B. Dest, Payroll and Benefits Manager Donna Advisor M. Ceccarelli, Assistant Vice President, Marketing Trust Services Financial Community Accounting Supervisor Vice President, Heather A. Smith, Assistant Vice President, Westerly Branch Manager Relations Officer Robert R. Buckley,Compliance Corporate Officer, Corporate Branch Manager Commercial Lender Accounting Supervisor Jesse R. Aguilar Phyllis A. Alexander Nicole A. Baker Benjamin Z. Barning Mary Anne Bastien Jacquelyn A. Baudro Graham P. Benedict Brian D. Bergeron Sandra A. Blanchard Michelle L. Boiselle Kathleen M. Bolton-Kelley Catherine H. Brosnan Cheryl E. Brown Jason L. Brown Andrea P. Bundy Laura L. Burdick Brett Caisse Ovidio Chaparro Stacey Chauvin Cheryl A. Chmielewski Julie A. Cinami Laura J. Citrak Samantha A. Corey Gina M. Cote Suzanne S. Davis Luz C. Dickinson Amber R. Digangi
71410_DimeBank_AnnualRpt.indd 2
Kathleen A. Donahue Diane L. Eichner Rachel Engle Gale E. Ennis Paul Espinosa Corrie A.J. Faille Andrew G. Fitch Wendy A. Fitzgerald John W. Florence Kyle Fracchia Chelsea A. Funk Sandra P. Gaitan Daisy Garcia Karyn L. Garside Terri L. Gaskell Erica L. Gee Gina Godish Maureen Goff Stephanie M. Gromko Sandra L. Hill Elin E. Hill Maggie Jacksin Indu Jain Paula A. Jello Jasmine M. Julia Geoffrey M. Kisby Lisa A. Krauss
Colette C. Ladd Nicole Lafayette Debra Lewis Maurya Locas Sheila K. Maheu Pauline A. Mandry Christine I. Manseau Thomas J. Markert = Melissa Mathieu Janet E. Maulucci Matthew F. Mauro Tammie McClure Michelle McDonough Mary-Ellen McLaughlin Jillian A. Melton Wendy A. Michaud Laura Miles Karen L. Miller Jeanna F. Miner Susan G. Mocek Ann L. Moore Cindy A. Moran Richard J. Moran Katherine E. Morano Cathy M. Morton Brandishea Moses Tamie L. Murray
Austin Newsome Nancy O’Brien Edward F. Olenkiewicz Brenda Pappagallo Keona S. Peake Allison W. Perkins Belinda L. Pero Joanne Perras Kathleen R. Phipps Jennifer Piner Amber M. Platt Merlin S. Rajamohan Brenda Ramesar Melissa A. Raymond Harry D. Reed Aaron L. Rekas Korine L. Reynolds Samantha J. Rivera Maureen Rondeau Theresa K. Salas Ryan Savage Della M. Schimmel Cidalia M. Schott Anne N. Scribner Lynn P. Semmelrock Mary Shaw Ana M. Shephard
Robin M. Sieczkowski Melanie Smith Geraldine Smith Randy Sperry Deborah C. Stearns Kathleen A. Strenkowski Bryan D. Sweet Marilyn L. Taylor Erin E. Tirrell Susanne Tracey Amanda L. Turner Janelin Vasquez Rosanne H. Viadella John M. Vincent Michelle K. Walenczyk Lynn C. Wallace Jessica Watrous Ashley L. Webster Nicole Wilkins Sheena Works Mary E. Youmans Gail A. Zagarenski Anne F. Zeppieri
= Passed away this year
NORWICH CORPORATE* 290 Salem Turnpike; Norwich, CT 06360 860.859.4300
NEW LONDON* (In Shaw’s Cove) 668 Bank Street; New London, CT 06320 860.437.4366
NORWICH DOWNTOWN* 33 Broadway; Norwich, CT 06360 860.889.2318
NEW LONDON* (In ShopRite) 351 North Frontage Road; New London, CT 06320 860.437.6222
NORWICHTOWN* 115 West Town Street; Norwich, CT 06360 860.892.4047
STONINGTON BOROUGH* 4 Cannon Square; Stonington, CT 06378 860.535.0034
TAFTVILLE* 630 Norwich Avenue; Taftville, CT 06380 860.887.0554
WESTERLY* 131 Franklin Street; Westerly, RI 02891 401.596.4744
EAST LYME* 18 Chesterfield Road; East Lyme, CT 06333 860.739.2192
ATM ONLY LOCATIONS
LEDYARD* 744 Colonel Ledyard Highway; Ledyard, CT 06339 860.464.8925 MONTVILLE* 563 Norwich-NL Turnpike; Montville, CT 06382 860.848.0659
Our timeless mission:
Backus Hospital 326 Washington Street; Norwich, CT 06360 Near Gift Shop & in Emergency Department Norwich Free Academy (In Atrium Building) 305 Broadway; Norwich, CT 06360 Fiddleheads Food Co-op 13 Broad Street; New London, CT 06320 *ATM Locations
Dime Bank will remain a mutual, community-oriented financial institution offering competitive products to meet the needs of consumers, businesses, non-profits, and municipalities. The hallmark of Dime is the personalized manner in which it serves its customers and supports its communities. Dime Bank is committed to providing a positive work environment where employees are valued and respected.
CELEBRATING AWARDWINNING COMMUNITY BANKING
A word about our awards: While being a community bank has its own rewards, in 2012, Dime Bank was honored to receive several noteworthy recognitions from our employees, our peers, and the communities we serve. The Commercial Record, a leading business and financial media for Connecticut, compiled opinions through surveys to recognize Dime Bank in a number of significant ways — Best Commercial Lending Bank (gold), Best Residential Mortgage Lender (gold) and Best Community Bank (silver).
DIME BANK 2012 ANNUAL REPORT
Because of his dedication of service to both Dime Bank and to the community, Nick Caplanson, President/CEO, was honored with a Community Bank Heroes Award presented by The Warren Group. Cheryl Calderado, Senior Vice President/Human Resources, received recognition as a Women of Fire — being among the brightest leaders in the Finance, Insurance and Real Estate sectors. While recognition by our peers is heartfelt and humbling, we were especially proud to be selected among the Top Workplaces in Connecticut based on employee opinions, in a survey moderated by The Hartford Courant. For the year ahead, our entire team will proudly display a “Top Workplace” pin on their lapels. As we conclude this award-winning year, we thank all involved for celebrating Dime Bank’s mission and outstanding team. We will continue to work hard to earn your confidence and loyalty. Member FDIC | dime-bank.com
Equal Housing Lender
3/12/13 11:59 AM
“We always wanted to establish a will and/or trust, but knew the task was daunting. It was much easier knowing that Dime was with us the entire way.” Sean and Mary Jo Nugent had discussed the need for a will and/or trust countless times, but like many, never took the time. Following Sean’s retirement, and having witnessed the effect estate planning had on family and friends, the Nugents reached out to Dime Bank’s Trust Services.
Tom McAvoy, Senior Trust Officer; Mary Jo Nugent; Sean Nugent; and, Mildred E. Devine, Trust Officer
“The professionals from Dime Bank’s Trust Services team brought their years of experience to the table and provided assurance, mentoring and at times, hand-holding,” shares Sean Nugent, a retired executive and scientist at Pfizer.
Through a series of thoughtful dialogs, the Nugents were able to express their needs and concerns, relying on Dime’s team to coordinate with legal counsel, accountants, financial advisors and care-givers for an ideal solution. With solid insight, years of experience and a commitment to truly listening to the needs of the client; Dime ensures that the estate planning process need not be daunting, but highly rewarding.
DIME BANK TRUST SERVICES: Charitable Trusts Endowment Funds Estate Administration Guardianships Living Trust/Grantor
71410_DimeBank_INSERT.indd 1
“Dime took the time to consult with us on a personal basis throughout the entire process. We are now confident that our wishes and our loved ones are assured. We encourage others not to be intimidated at the thought of preparing a will,” concludes Mary Jo.
For a free review of an existing estate plan, or to begin the development of a new estate plan, contact Dime Bank Trust Services, at 860.859.4308.
3/12/13 12:00 PM
“Dime Bank has been my bank since I started my pediatric practice. When it was time to purchase a commercial property contacting Dime Bank was my first call.” Prakash Pediatrics of Norwich is growing nearly as fast as the patients they serve. Placing “Kids First & Always,” Dr. Ravi Prakash and his team of compassionate providers are welcoming and expanding their community of patients, and need an office that provides growing room.
Dr. Ravi Prakash with Robert Buckley, Commercial Lender
“Finding appropriate professional space convenient to patients, near the hospital and related outpatient labs, is not always easy,” shares Dr. Prakash. “When an ideally suited building came on the market, I needed to act fast, and Dime Bank was there.”
With an experienced commercial lending team, and an understanding of market conditions, Dime Bank worked with Prakash Pediatrics to manage the appraisal, financing and closing process with limited disruptions to a busy healthcare practitioner.
DIME BUSINESS BANKING SERVICES: Loans Checking Savings & Retirement Business & Succession Planning Health Savings Accounts Cash Management Services
“Dime Bank understands that my priority is my patients, and that banking needs to be convenient. With just a few calls, the process went from start-to-finish in a very seamless way. Dime Bank is...and will always be...my community bank,” concludes Dr. Prakash.
Whether a small business or a large enterprise, Dime Bank offers a wide range of products and services to assist in every aspect of business development. For more information and a confidential appointment, call 860.859.4300.
Member FDIC |
71410_DimeBank_INSERT.indd 2
Equal Housing Lender
3/12/13 12:00 PM
There’s a convenient Dime Bank location near you:
Celebrating an Award-Winning Team — Dime Bank Community of Employees: Rebecca L. Frechette, OFFICERS: Denise M. Magario, Laraine C. Cellucci, Shalin M. Peck, Corporate Officer, ViceB.President, Vice President, Julie Paige Dest, Assistant Vice President, Mildred TedAssistant W. Burrows, L. O’Connor, PRESIDENT E. Devine, Nicholas Caplanson, Lyme Branch Manager Loan Originations Stonington Branch Manager Deposit Operations/ Compliance, BSA Officer Loan Workout & Collections Credit Manager TrustEast Officer Nicholas Caplanson, President, CEO Joanne L. Gagnon, Deborah L. Malone, Allison C. Cone, eBanking Manager Manager Denise J. Magario, Kevin S. Owren, Rebecca L. Frechette, Cheryl A. Calderado, Chief Executive Officer Corporate Officer, Vice President, Controller Assistant Vice President, Meg M. Polubiatko, Residential Lender Donna M. Ceccarelli, Westerly Branch Manager East Lyme Branch Manager Manager Senior Vice President, Loan Closing Kimberly J. Misenti, Operations Admin. Officer Assistant Vice President, Corporate Administration, Sales, Service Deborah L. Malone, Robert T. Greatorex, M. Peck, Lending Joanne L. Gagnon, Vice President, Loan John V.Branch Estelle,Manager Shalin Residential SENIOR VICE PRESIDENTS and Marketing Officer, Operations Manager Assistant Vice President, Deposit Controller Joan Operations/ A. Simoneau, Laraine C. Cellucci, LoanCorporate Closing Manager Robert Giffen, Underwriter Joan M.J.Nagle, Cheryl A. C. Calderado, Commercial Lending Assistant Vice President, Robert Stonington Branch Manager eBanking Manager Kimberly Misenti, T. Greatorex, Senior Vice President, Julie L. Lumpkins, Vice President, Christopher J. Gauthier, Loan Servicing Manager Administration, Sales, Services Loan Operations Manager Allison C. Cone, Meg M. Polubiatko, Underwriter Corporate Officer, Retail Banking Assistant Vice President, Deirdre C. Sullivan, & Commercial Marketing Lending Operations Administration Residential Joan M. Nagle, L. Lumpkins, Anthony A. Joyce III, Research Officer Diane G. Papadakos, Commercial Lending AssistantLender Vice President, JulieMarketing Robert Giffen, SeniorC.Vice President, Branch Administrator MonicaResearch R. MacNeil, Joan A. Simoneau, Officer Vice President, Director of Officer Andrew H. Harvey, Executive Administrator Marketing Commercial Lending Credit Administration Corporate Officer, Marketing and Sales Assistant Vice President, Loan and Project Manager Manager John V. Estelle, Servicing Diane G. Papadakos, Monica R. MacNeil, ThomasA. N.Joyce McAvoy, Montville Branch Manager Shawnof J. Pishka, Anthony III, Jr., Information Security Catherine R. Tiffany, Commercial Lender Director Deirdre C. Sullivan, Montville Branch Manager Senior ViceOfficer President, Colleen E. Miller, Vice President, John P. Keating, Assistant Vice President, Chief Credit & Sales Christopher J. Gauthier, Executive Administrator Colleen E. Miller, Trust and Investment Services Marketing Corporate Officer, Operations/Facilities Manager Assistant Vice President, Taftville Branch Manager Thomas McAvoy, Jr., Commercial Lender & Project Shawn Pishka, Ledyard Branch Manager Brian P.N.McNamara, Ledyard Branch Manager KarenJ. C. Roman, Finance Officer John J.Manager Allard, Trust & Investment Services Senior Vice President, Operations/Facilities Cheryl A. Morin, Andrew Catherine R. Tiffany, Vice President, PeterH. R. Harvey, Lampasona, Corporate Officer, Cheryl A. Morin, Brian Lending P. McNamara, Residential Lending Assistant Security Vice President, Taftville Manager DimeBranch Investment ServicesLoanCorporate Information Manager ProcessingOfficer, Manager David J. Stanland, Loan Processing Manager JohnC.C.Roman, Adams, Chief Lending Officer Retail Operations James V. Burns, Officer Karen Nancy M. Potter, Senior Vice President, CFO, Nancy M. Potter, Assistant Vice President, Lorie B. Mocek, CorporateOFFICERS Officer, CORPORATE David J. Stanland, Residential Lender John P. Keating, London Branch Manager Treasurer Officer, Technology Officer Assistant Vice President, Dime Investment ServicesNewCorporate Chief Financial Officer, Finance Officer Anthony G. Antoch, London Branch Manager Cheryl A. Blanchard, Norwichtown Branch Melissa L. Colli, John J. Allard, LynnNew B. Roberts, Treasurer ASSISTANT PRESIDENTS Peter R. Lampasona, Jr., Vice President, B. Roberts, Officer Assistant VICE Vice President, Manager Corporate Officer, Registered Representative TrustLynn Administration Commercial Lending Retail Operations Manager Corporate Officer, Trust and Investment Services Julie L. O’Connor, Marketing Community John C. Adams, V. Burns, Darlene Serra, VICE PRESIDENTS Robert Buckley, TrustA.Administration Officer Ted W. Burrows, Assistant Vice President, James Relations Officer Lorie B. Mocek, Technology Manager Financial Advisor Benefits & Payroll Manager Vice President, Darlene A. Serra, Assistant Vice President, Credit Manager Mildred E. Devine, Norwichtown Branch Anthony G. Antoch, Commercial Lending Corporate Officer, Cheryl Blanchard, LoanA. Operations Kevin S. Owren, Melissa L. Colli,Officer, Corporate Heather A. Smith, Manager Commercial Lender Paige B. Dest, Payroll and Benefits Manager Donna Advisor M. Ceccarelli, Assistant Vice President, Marketing Trust Services Financial Community Accounting Supervisor Vice President, Heather A. Smith, Assistant Vice President, Westerly Branch Manager Relations Officer Robert R. Buckley,Compliance Corporate Officer, Corporate Branch Manager Commercial Lender Accounting Supervisor Jesse R. Aguilar Phyllis A. Alexander Nicole A. Baker Benjamin Z. Barning Mary Anne Bastien Jacquelyn A. Baudro Graham P. Benedict Brian D. Bergeron Sandra A. Blanchard Michelle L. Boiselle Kathleen M. Bolton-Kelley Catherine H. Brosnan Cheryl E. Brown Jason L. Brown Andrea P. Bundy Laura L. Burdick Brett Caisse Ovidio Chaparro Stacey Chauvin Cheryl A. Chmielewski Julie A. Cinami Laura J. Citrak Samantha A. Corey Gina M. Cote Suzanne S. Davis Luz C. Dickinson Amber R. Digangi
71410_DimeBank_AnnualRpt.indd 2
Kathleen A. Donahue Diane L. Eichner Rachel Engle Gale E. Ennis Paul Espinosa Corrie A.J. Faille Andrew G. Fitch Wendy A. Fitzgerald John W. Florence Kyle Fracchia Chelsea A. Funk Sandra P. Gaitan Daisy Garcia Karyn L. Garside Terri L. Gaskell Erica L. Gee Gina Godish Maureen Goff Stephanie M. Gromko Sandra L. Hill Elin E. Hill Maggie Jacksin Indu Jain Paula A. Jello Jasmine M. Julia Geoffrey M. Kisby Lisa A. Krauss
Colette C. Ladd Nicole Lafayette Debra Lewis Maurya Locas Sheila K. Maheu Pauline A. Mandry Christine I. Manseau Thomas J. Markert = Melissa Mathieu Janet E. Maulucci Matthew F. Mauro Tammie McClure Michelle McDonough Mary-Ellen McLaughlin Jillian A. Melton Wendy A. Michaud Laura Miles Karen L. Miller Jeanna F. Miner Susan G. Mocek Ann L. Moore Cindy A. Moran Richard J. Moran Katherine E. Morano Cathy M. Morton Brandishea Moses Tamie L. Murray
Austin Newsome Nancy O’Brien Edward F. Olenkiewicz Brenda Pappagallo Keona S. Peake Allison W. Perkins Belinda L. Pero Joanne Perras Kathleen R. Phipps Jennifer Piner Amber M. Platt Merlin S. Rajamohan Brenda Ramesar Melissa A. Raymond Harry D. Reed Aaron L. Rekas Korine L. Reynolds Samantha J. Rivera Maureen Rondeau Theresa K. Salas Ryan Savage Della M. Schimmel Cidalia M. Schott Anne N. Scribner Lynn P. Semmelrock Mary Shaw Ana M. Shephard
Robin M. Sieczkowski Melanie Smith Geraldine Smith Randy Sperry Deborah C. Stearns Kathleen A. Strenkowski Bryan D. Sweet Marilyn L. Taylor Erin E. Tirrell Susanne Tracey Amanda L. Turner Janelin Vasquez Rosanne H. Viadella John M. Vincent Michelle K. Walenczyk Lynn C. Wallace Jessica Watrous Ashley L. Webster Nicole Wilkins Sheena Works Mary E. Youmans Gail A. Zagarenski Anne F. Zeppieri
= Passed away this year
NORWICH CORPORATE* 290 Salem Turnpike; Norwich, CT 06360 860.859.4300
NEW LONDON* (In Shaw’s Cove) 668 Bank Street; New London, CT 06320 860.437.4366
NORWICH DOWNTOWN* 33 Broadway; Norwich, CT 06360 860.889.2318
NEW LONDON* (In ShopRite) 351 North Frontage Road; New London, CT 06320 860.437.6222
NORWICHTOWN* 115 West Town Street; Norwich, CT 06360 860.892.4047
STONINGTON BOROUGH* 4 Cannon Square; Stonington, CT 06378 860.535.0034
TAFTVILLE* 630 Norwich Avenue; Taftville, CT 06380 860.887.0554
WESTERLY* 131 Franklin Street; Westerly, RI 02891 401.596.4744
EAST LYME* 18 Chesterfield Road; East Lyme, CT 06333 860.739.2192
ATM ONLY LOCATIONS
LEDYARD* 744 Colonel Ledyard Highway; Ledyard, CT 06339 860.464.8925 MONTVILLE* 563 Norwich-NL Turnpike; Montville, CT 06382 860.848.0659
Our timeless mission:
Backus Hospital 326 Washington Street; Norwich, CT 06360 Near Gift Shop & in Emergency Department Norwich Free Academy (In Atrium Building) 305 Broadway; Norwich, CT 06360 Fiddleheads Food Co-op 13 Broad Street; New London, CT 06320 *ATM Locations
Dime Bank will remain a mutual, community-oriented financial institution offering competitive products to meet the needs of consumers, businesses, non-profits, and municipalities. The hallmark of Dime is the personalized manner in which it serves its customers and supports its communities. Dime Bank is committed to providing a positive work environment where employees are valued and respected.
CELEBRATING AWARDWINNING COMMUNITY BANKING
A word about our awards: While being a community bank has its own rewards, in 2012, Dime Bank was honored to receive several noteworthy recognitions from our employees, our peers, and the communities we serve. The Commercial Record, a leading business and financial media for Connecticut, compiled opinions through surveys to recognize Dime Bank in a number of significant ways — Best Commercial Lending Bank (gold), Best Residential Mortgage Lender (gold) and Best Community Bank (silver).
DIME BANK 2012 ANNUAL REPORT
Because of his dedication of service to both Dime Bank and to the community, Nick Caplanson, President/CEO, was honored with a Community Bank Heroes Award presented by The Warren Group. Cheryl Calderado, Senior Vice President/Human Resources, received recognition as a Women of Fire — being among the brightest leaders in the Finance, Insurance and Real Estate sectors. While recognition by our peers is heartfelt and humbling, we were especially proud to be selected among the Top Workplaces in Connecticut based on employee opinions, in a survey moderated by The Hartford Courant. For the year ahead, our entire team will proudly display a “Top Workplace” pin on their lapels. As we conclude this award-winning year, we thank all involved for celebrating Dime Bank’s mission and outstanding team. We will continue to work hard to earn your confidence and loyalty. Member FDIC | dime-bank.com
Equal Housing Lender
3/12/13 11:59 AM
