Dime Community Bancshares has launched an Equipment and Franchise Finance Group aimed at serving middle-market companies and experienced franchise operators.
The new vertical is part of the bank’s strategy to expand specialized commercial banking capabilities, drive organic growth and add talent in targeted markets, according to today’s Dime release.
Keith Smith joins Dime as senior vice president and head of the group, according to the release. Previously, he was president and partner at Star Hill Financial.
The group will focus on large-ticket equipment financing for essential-use assets across industries such as waste management, construction, medical, commercial vehicles and material handling. It will also target franchise financing, particularly for established operators in the quick-service restaurant sector.
The new team includes Chris Wellbrock, Zerka Gul, Lori Rainbolt and Emily Moreno in underwriting, operations and closing roles, according to the release.
The move reflects Dime’s commitment to growth and its focus on clients with equipment needs and franchise expansion. Dime is a New York state-chartered trust company with about $15 billion in assets and the top deposit market share on Greater Long Island.
