Five Questions With: Scott Sanborn

Scott Sanborn is senior vice president of commercial lending at HarborOne Bank, which recently entered the Rhode Island market.

He has had a long career working as a top financial executive, with expertise in strategizing the integration of commercial, retail sales, and service strategies, according to HarborOne.

Sanborn oversees the bank’s strategy and oversight of all commercial lending activities. Prior to his career with HarborOne, Mr. Sanborn served as regional vice president at TD Bank where he built and led a team of eight commercial relationship managers for the Metro Boston, Rhode Island and southern Massachusetts markets.

He was a past chairman for Metro South Chamber of Commerce.

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PBN: Welcome to Rhode Island, can you tell our readers a little bit about what attracted you to the Ocean State market?
SANBORN:
The Rhode Island banking environment has seen a lot of change over the past few years. HarborOne has an experienced local team that understands the real estate market and the industries that chose to build their businesses in the Ocean State.

PBN: The Providence location marks the bank’s first commercial office since 2013, should we expect to see more commercial office in Rhode Island or elsewhere in the region?
SANBORN:
Our Providence-based Commercial LPO is our initial entry to Rhode Island. Staffed with three Commercial lenders, we are excited about the opportunities available to HarborOne and believe our team is well positioned to cover the market for the near term.

PBN: What about the retail side, are there any future plans to try to capture some of the Rhode Island deposit market?
SANBORN:
While we don’t have any immediate plans to open a retail presence, our commercial deposit products allow us to provide a comprehensive set of services through our cash management platform. Our online banking services for individuals and families are top of the line, and include convenient Mobile Banking and Mobile deposit.

PBN: Obviously, in Massachusetts and Rhode Island, there is a lot of competition in commercial lending, what sets you apart from your competitors?
SANBORN:
Our team is our key competitive advantage. Matt Insana, George Sadler, and Murray Charron have long-standing local relationships and extensive experience lending in the Rhode Island marketplace. Combined with our ability to execute in a timely manner, our clients find HarborOne a responsive and effective commercial lending solution.

PBN: With HarborOne just finalizing its acquisition of Merrimack Mortgage Company Inc., should we expect to see an increased focus on home loans in the Ocean State?
SANBORN:
As evidenced by our recent acquisition, HarborOne continues to have a focus on residential mortgages and home equity loans. With our local commercial presence, we plan to accelerate the growth of both our residential and consumer lending opportunities.

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