Community Banking Month: An Important Celebration at an Important Time
As we look forward with anticipation to diminishing numbers of Covid cases and a return to the many outdoor activities we’ve missed for more than a year we, along with community banks nationwide, take this opportunity to express our gratitude for our customers and commemorate the month of April as “Community Banking Month”. Community Banking Month is an important endeavor that celebrates the role that community banks fill as atrusted and local source of financial products, services and solutions. It also recognizes the integral role community banks play in helping to keep our communities financially strong. This past year has been a unique example of community banks directly impacting the community as the pandemic created job loss, financial hardship and difficult times for our families, our neighbors and our community.
Community Banks are independent and locally-operated institutions. The nearly 4,600 Community Banks across America today are recognized for personalized individual service, lower fees and their unyielding focus on the local economy. According to the FDIC Quarterly Banking Profile Community Banks represent 92% of the number of financial institutions serving the industry, yet the combined size of Community Banks account for just 12% of industry assets. Notably the combined value of the 4,600 Community Banks is less than the value of the largest bank in the US, which controls over $3 trillion of industry assets. Despite our small size, Community Banks accounted for 45% of the growth in loans to business in 2020; substantially through the Payroll Protection Program. Dean Bank proudly provided over $17 million to nearly 300 area business through this program.
Each year, Community Banking Month gives Dean Bank the opportunity to honor our community and our customers. We are proud to do our part in strengthening the economic engine that drives our local economy and are pleased to provide our customers with the local expertise that only a community bank can provide. Our loan decisions are made locally and our loans are all serviced locally. That gives our borrowers confidence, knowing that their loan will be considered on its merits by someone that is from the area and is familiar with them. And after the closing you will continue to be served by our dedicated and professional community bankers.
Community banks listen carefully to the needs of its customers and neighbors. We offer an avenue to promote local banking every day and Dean Bank has been doing so in our community for more than 130 years! We’ll never stop listening to our customers. Stop in or check us out online and see how we can help solve your financial challenges, big or small. We’d love to demonstrate the commitment to our community that an event like Community Banking Month affords us the chance to do.
Stay safe and healthy,
Kevin R. Goffe
President & CEO
Winter’s final weeks are here and our community is making the welcome transition to longer days, warmer weather and a continued decline in the number of new Covid-19 cases. Dean Bank has been closely monitoring the improving conditions and would like to take a moment to offer a message of appreciation and gratitude to our employees….our customers… and the community at-large for their dedication, their perseverance and their loyalty throughout the Covid-19 pandemic thus far. “THANK YOU!”
We continue to move forward in the reopening / return to business process and are pleased to announce that as of Friday, March 5th the doors to our branches will be unlocked during regular business hours. Our Management Team still meets regularly to maintain a workplace where our employees remain safe and healthy, while still providing the level of personalized service you have come to expect as a Dean Bank customer.
We remain committed to following the Commonwealth’s mandates and guidelines but are equally committed to maintaining our own; ones that customers and employees alike have found reassuring. For the foreseeable future, employees and customers are still required to maintain the six-foot social distancing practice as well as to wear a mask or other face covering at all times while in our branches. Hand sanitizer remains available via dispensers located within each location and upon entering, we ask customers to apply before transacting in-person business. We will monitor and limit if necessary the number of visitors in the branch at one time. Some customers may be asked to wait outside for a few moments in order for others to conclude their business and exit the building. Though still not ideal, face-to-face meetings may occur safely if necessary. Contact the employee you plan to meet with for additional instructions/details.
For some good news… mortgage rates and auto loan rates remain near historic lows! If you have not yet refinanced, please consider doing so with Dean Bank. Furthermore, it is still a great time to purchase a home. You may apply in minutes at deanbank.com. Simply click “check rates”, “refinance my mortgage” or “apply for a vehicle loan” next to the “I want to” phrase of the dropdown menu found right on our Home Page.
I wish you and your family health and safety as thoughts turn to the coming spring! I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.
Kevin R. Goffe
President & CEO
December 1, 2020
To our customers:
Given the recent surge in local COVID infection rates, we have decided to modify branch access in an effort to limit customer/employee interaction. Effective Wednesday December 2nd, branch access will be restricted. Though still open for business, branches will lock their doors. We encourage customers to use the drive-up or call ahead and arrange for curbside banking. Should your transaction require in-branch access, arrangements can be made on an individual basis.
We understand this may be frustrating; however, our goal is to remain open for business for the long-term. These adjustments are temporary and we plan to return to normal business conditions as soon as it is safe to do so. Thank you for your cooperation.
Kevin R. Goffe
President and CEO
A message from Dean Bank President & CEO Kevin R. Goffe
The month of November is my favorite month of the year. It's a wonderful time to reflect on all I have to be thankful for in my personal and professional life. It's a time to express my gratitude for our loyal and supporting customers and a devoted staff of bankers committed to serving the community in good times and in challenging times. The past seven months have brought unprecedented challenges to serving the public throughout the COVID-19 pandemic. As the challenges persist we will continue in our diligence to serve you safely and as effectively as possible. For your patience and understanding, we can only say “THANK YOU!”
As we approach the holidays with visits from out-of-town visitors more likely, we shall be monitoring the health risks in the communities we serve as provided by the Commonwealth. We will keep you informed of any necessary changes to our operating hours and level of service as conditions warrant. We remain committed to following the Commonwealth’s mandates and guidelines but are equally committed to making our own decisions to ensure the safety and health of our customers and employees alike.
November is also a time to show support for all the small businesses in our community and this year it is more important than ever. No matter what you're looking to purchase, or service you desire, chances are there is a local alternative convenient to your home or workplace. When you shop locally your hard earned money gets reinvested locally. Local businesses are employing your neighbors with quality jobs and paying taxes to support our schools and emergency services. Money spent locally has a multiplying effect in the community as local businesses contribute disproportionately more time and money into local non-profit organizations and youth groups. Local businesses use local sources to improve craftsmanship, reliability of delivery, quality and freshness or just to support the local community.
This holiday season I challenge you to shop a local small business first. Although Saturday, November 28th is officially Small Business Saturday®, this year let’s make every day feel like Small Business Saturday®. Shop locally for the sake of our community.
Kevin R. Goffe
President & CEO
A message from Dean Bank President & CEO Kevin R. Goffe
I have a number of words to describe 2020 so far; surreal, challenging, difficult, dangerous….but at the same time, inspiring, cooperative, uplifting and hopeful.
For the past eight weeks or so, Dean Bank has fundamentally transformed the way it serves its retail banking, mortgage, small business and commercial customers. Every element of service “before” has been transformed in ways we never conceived of just 90 days ago. Most of our workforce has been working remotely quite effectively while our branch, mortgage and commercial departments have been on-site processing and closing loans in historic numbers.
We are in the beginning stages of the reopening process. Our Management Team is meeting regularly to design a workplace where our employees will remain safe and healthy, while still providing the level of personalized service you have come to expect as a Dean Bank customer.
I must be frank with you; it is going to look and feel different. We are committed to following the Commonwealth’s mandates and guidelines but are equally committed to creating our own; ones that customers and employees alike will find reassuring. I will be sending out specifics in a separate communication very soon but will share one major component with you now. For the foreseeable future, customers will be required to wear a mask or other face covering at all times while in our branches and will be expected to use hand sanitizer (available via dispensers located within each location) upon entering and exiting any Dean Bank office or branch.
With Memorial Day around the corner, we anticipate offering more face-to-face service shortly thereafter. With warmer weather coming, we hope that the severity of this virus wanes and that society can get on with the business of doing business locally. We look forward to that moment.
For some good news, look at mortgage rates! They remain at historic lows. If you have not yet refinanced, consider doing so with Dean Bank. Now is also a great time to consider purchase a home. You may apply in minutes for either scenario at deanbank.com. Simply click “check rates” next to the “I want to” phrase on our Home Page.
Another positive development has been the adoption of our electronic banking services such as Mobile Banking, Mobile Check Deposit and Online Deposit Account Opening. We are proud that our services are available for your use during this extended stay-at-home environment. Visit deanbank.com and open a CD, checking account or savings product right from the comfort of your home or office. It can also be found as a Tab in Online Banking. If you need assistance making a mobile deposit, we created a video tutorial found on our web site.
I wish you and your family health and safety. I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.
PRESIDENT"S MESSAGE REGARDING COVID-19 CAN STILL BE FOUND HERE:
Amid ongoing concerns about the Coronavirus (COVID-19), we want to assure you that Dean Bank is closely monitoring the latest from the Center for Disease Control (CDC) as well as other state and federal agencies. We are taking all necessary measures for the health and safety of our customers, colleagues and the communities we serve. Below is an updated summary of steps taken to ensure customer and employee safety while the bank is open for business.
- NEW: Dean Bank remains steadfast in its support of our customers, our employees and our community! We've seen tremendous things in the midst of the COVID-19 pandemic. We've seen our community rally together to support those in need. We've seen our community hospital face this crisis head on, small businesses that made and donated hundreds of meals, individuals creating masks for their co-workers after they'd completed a full day's work, local businesses remaining open to serve despite the health risks that posed...the list goes on and on. On behalf of each of our employees we say THANK YOU!
- As of April 27th, financial institutions, including Dean Bank, have been instructed to temporarily suspend collection of Regulation D fees, which occur when a customer makes more than 6 withdrawals from a Savings account during a calendar month. The federal government understands a customer's need for cash to cover expenses may increase from a "non-transaction" account like a savings or money market account and wants consumers to know they can do so without penalty at this time.
- The SBA announced additional debt relief efforts for small businesses. For more information, please click here or contact any of our Commercial Lending staff and they'll be happy to have a conversation with you.
- The SBA issued new guidelines regarding the PPP. The press release can be found here. It's imperative that Congress approved additional funding for the program as funds have completely run out from the first round.
- As of Thursday, April 16, Dean Bank's Mendon Branch will close at 4:00 pm on Thursdays and Fridays until our area returns to full business activities. We apologize if this temporary change creates any hardship. Please remember our other three branches will operate with normal business hours.
- As of March 31st the SBA sent out new guidelines for faster assistance to small businesses. They stated that EIDL applicants that already submitted in the previous system received an email instructing those that wish to request a FORGIVABLE advance of up to $10K to submit a new application on the new portal. If you are submitting a new application, please follow the new streamlined steps in the portal (https://covid19relief.sba.gov/#/) as the questions are mostly the same from all the required documents in the previous version of the portal. All small businesses and nonprofits are encouraged to apply for EIDL and request an Economic Injury Disaster Loan advance of up to $10,000. The loan advance will not have to be repaid. If you already submitted an application and want to check on status, please call customer service at 1-800-659-2955 or e-mail disastercustomerservice at sba dot gov
- As of March 17, 2020, Dean Bank branches will remain open for business; however, service will occur via the drive up lanes, night deposit and ATM’s only in our Franklin, Bellingham and Blackstone locations. We hope customers will understand that this is a temporary situation and we apologize in advance if service time is longer than normal. Customers who require in-person service for services such as access to their safe deposit boxes should call their local branch (branch telephone numbers can be found here) and a member of our customer service staff will make an appointment for your transaction to be completed. Coin counting is temporarily suspended in all branches. Our Mendon Branch will restrict service to via the night drop & ATM only. More information will be communicated should conditions warrant it.
- Business customers may call ahead for coin orders and the bank will make every effort to fill that order for you as quickly as possible. A member of our branch staff will contact you with pick up details.
- We have created a special e-mailbox, outreach at deanbank dot com, for customers who may be struggling financially as a direct result of the virus to share their specific concerns related to business or personal accounts with the bank. Please do NOT share specific account number or balance information via email but do include the best method for us to contact you (phone or email).
- If you are concerned with going out in public, you can conduct most transactions via Online Account Opening, Telephone Banking, Online Banking or Mobile Banking (including Mobile Check Deposit). If you do not already have our app you can download it via the App or Google Play Store. Our staff is prepared to answer questions about these services (in person or by telephone or email) and in many cases provide instruction to you, should you have a question about how to use our e-Services. Additionally, our website (www.deanbank.com) provides a host of valuable resources such as ATM locations and Branch Hours.
- Business customers that may be experiencing temporary cash flow issues may contact the SBA. To explore options including loan payment deferments of up to 6 months visit www.sba.gov to begin the process or speak with a member of our Commercial Lending staff.
- Finally, if you would like to speak with a member of our staff please call us at 508.528.0088 during regular business hours.
We will continue to closely monitor the situation and communicate any additional measures necessary to support you and the communities we serve as needs arise.
Kevin R. Goffe
President & CEO
Dean Bank obtains 95% of its funding locally and reinvests that money in local housing, businesses and through other consumer financing needs. Despite our small size in the financial services marketplace, Dean Bank has provided over $1 billion in residential housing finance over the past 15 years. Thank you for ranking us the #1 Community Bank in each of the markets we serve by voters in the CNC Reader's Choice for 12 years in a row!