Magazine : Archives : 3rd Quarter 2021

Banks 
In Pursuit 
of Scale

When two longtime New Yorkers — Kevin O’Connor and Kenneth Mahon — met for dinner at midtown Manhattan’s Wolfgang’s Steakhouse on a wintery day in late 2019, the conversation quickly turned to their similarities. At the time, O’Connor was CEO of Bridge Bancorp in Long Island. Mahon was CEO in Brooklyn for one of the oldest banks in New York City, Dime Community Bancshares.  Their banks were about the same size, $6 billion in assets. Their geographic footprints touched, but there was little overlap. It didn’t take long before they began discussing a possible merger. “We’re not children,” says O’Connor,...