Mark J. Meiklejohn |
Chief credit officer, Brookline Bancorp Inc.Former CEO and president, Bank Rhode Island
1. How did your banking experience, including for the former Fleet Bank, inform your approach to heading up BankRI? Building a strong culture is important. BankRI is a great place to work because we hire quality people who care about each other and their communities. I think customers can sense that; it makes them comfortable, develops trust and, as a result, relationships flourish.
2. Under your leadership, the bank has grown its branch locations significantly. Is adding more branches still part of the growth strategy or is that going to change in this digital age? In addition to our new headquarters, we plan to open two new branches in 2023, Oaklawn Avenue in Cranston and Bellevue Avenue in Newport. These will be great additions for us. I don’t subscribe to the theory that branches don’t matter and that all banking is moving online. My experience is that customers like the convenience of digital, but that the most important financial decisions are still made face to face with people they trust.
3. What are the advantages to being part of a larger company (Brookline)? Are there disadvantages? It is the best of both worlds. BankRI is a distinct company with our own board and brand – we control marketing, pricing and loan decisions, all of the things that allow us to be responsive. The primary benefit of being part of a larger company is our balance sheet – we are able to underwrite bigger loans relative to our size.
4. What do you think sets BankRI apart from the competition, including other community banks, larger regional and national banks, and fintech firms? Our model of relationship-banking is both effective and successful. We offer all the services a customer can find at a larger institution but we still answer our phones. Our customers value that.
5. How does the new bank headquarters in the I-195 Redevelopment District play into the long-term growth and strategy for BankRI? We are very excited about the new project. Establishing our own signature space feels like the natural next step for the bank. The new building will provide space for our growing workforce, including on-site parking for our employees, which is an important benefit. After a lengthy search, we are very pleased to be able to remain in downtown Providence.
