Steven C. Webb is New Jersey-based TD Bank’s new president for its southern New England region, including Rhode Island. He most recently served as the bank’s New Hampshire market president – commercial, where he was responsible for the expansion of commercial and small-business lending, cash management and government banking in the Granite State. Before that, he was responsible for TD Banknorth’s commercial division in New Hampshire.
In his new position, Webb is based in Boston and oversees the bank’s operations in Massachusetts, Rhode Island, Connecticut and upstate New York. His itinerary this week included a stop at TD Bank’s branch on Westminster Street in downtown Providence.
PBN: TD Bank increased its total deposits in Rhode Island to $1.6 billion as of June 30, more than tripling its $444.7 million in local deposits a year earlier. Does the bank expect to continue that growth?
WEBB: TD Bank is committed to growing our business and market share in every state throughout our Maine-to-Florida footprint. We see great growth opportunity in southern New England and have dedicated bank leadership for Rhode Island, including Commercial Market President Mike LaBella and Retail Market President Mauro DeCarolis and an experienced local team under Frank Casale. With more than 140 combined years of lending experience in the Rhode Island market, this team truly understands the unique challenges and opportunities in the state.
Our deposit share shows only one side of TD’s business; we are also actively lending in the community. Our teams provide residents with deep insights into the local economic climate and other factors that could impact their personal and business financial decisions. We will continue to capitalize on our lenders’ market expertise, which provides our customers with peace of mind, knowing they can work with a local expert to help make their local loan decisions.
PBN: How do you see retail banking evolving in the years ahead?
WEBB: In today’s digital, automated world, where people are constantly plugged in, customers expect to be able to bank when, where and how they want. It’s our job to cater to these preferences by creating a seamless, multichannel banking experience.
Although customers leverage banking technologies, stores continue to play a major role when customers want advice or need to resolve an issue and would prefer an in-person interaction. TD continues to see a place for physical banking locations, although they may evolve to reflect new needs by being smaller, more efficient and incorporating more technologies such as smart ATMs that create personalized, tailored experiences for our customers.
PBN: How large is TD Bank’s commercial banking business in the southern New England region? How about in Rhode Island?
WEBB: Southern New England, which encompasses Massachusetts, upstate New York, Connecticut and, of course, Rhode Island, is a priority market for TD Bank. Currently, we have more than 215 locations in this region and we seek to continue to drive growth and market share with small businesses and commercial businesses in this important geography. In this region, we also see opportunity for growth in the manufacturing, distribution and professional-services industries.
PBN: What’s been driving the growth of the region’s commercial banking market?
WEBB: There are several factors driving the growth of the region’s commercial banking market. Although the region faces challenges due to labor market constraints and slow population growth in Rhode Island and Connecticut, relatively faster population growth in Massachusetts, combined with a high-tech tilt, will allow the state to achieve growth expected to be more in line with the national pace.
Additionally, booming industries [such as] health-related sectors, technology and manufacturing will continue to aid economic growth in the region and encourage both big-name tech giants and smaller specialty shops to bolster their presence in the region, creating thousands of jobs and strong growth opportunities for the [TD] Commercial Bank.
PBN: What’s at the top of your agenda in your new job?
WEBB: I know southern New England is an important area of focus for the bank, so I am truly humbled to have the opportunity to lead this market and work with my team to help grow TD’s footprint in the region.
For me, it’s top of mind to work with my team to ensure they are constantly forming relationships with new customers while maintaining strategic relationships with current customers. I plan to continue to focus on talent development – how I can help grow my team’s skills and competencies while simultaneously developing opportunities that attract the next generation of talent.
I also want to spread the word about our expertise and capabilities. I want potential customers to turn to TD because they have heard of our locally based experts who can genuinely provide each customer with the best banking experience possible.
Scott Blake is a PBN staff writer. Email him at Blake@PBN.com.
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