New appointment: Ex-CEO of Republic First, Geisel, joins Dime
In a strategic move to bolster its commercial lending business, Dime Community Bank has announced the hiring of Tom Geisel as its Senior Executive Vice President of Commercial Lending. This appointment, according to CEO Stuart Lubow, is the next logical step in the bank's business plan.
Geisel, with a banking career spanning over 25 years, brings a wealth of experience to Dime Community Bank. His impressive resume includes stints as Northeast Regional President at KeyBank, President of Corporate Banking at Webster Bank, and CEO of Sun Bancorp, as per his LinkedIn profile.
However, the banking industry has been experiencing turbulence, with several institutions facing challenges. Republic First Bank, a separate entity from First Republic Bank, was one such institution that struggled. Geisel, interestingly, served as CEO of Republic First from December 2022 until its integration with Fulton Bank in July 2024.
Republic First's troubles began in late 2021 when activist investor Abbott Cooper asserted the bank's earnings per share and stock price were low relative to its peers. The bank's capital raise strategy, announced by CEO Vernon Hill, was delayed indefinitely. Despite this, the news of Republic First's difficulties was not prominently mentioned in Dime Community Bank's announcement of Geisel's hire.
In a surprising turn of events, the stalemate only broke when one of Hill's board allies died, prompting the other faction to oust Hill, who left the bank in July 2022.
Another bank that faced challenges was Flagstar, which suffered a surprise $252 million loss that widened to $2.4 billion due to its commercial real estate exposure. Dime Community Bank hired six groups of bankers from Flagstar in April 2021 to deepen its presence in Nassau County and Brooklyn, and give it a toehold in Westchester County.
In a series of failed investment attempts, investors unveiled a plan to pour $125 million into Republic First, but that deal faltered two months later. The Norcross-Braca group later signed a letter of intent to infuse Republic First with $35 million if the bank were to find investors who would give another $40 million.
However, the most significant development following Republic First's failure in April 2024 was its acquisition by Fulton Financial. This acquisition is noted to be strategic and accretive, as Fulton Financial reported that integrating Republic First Bank contributed positively to its earnings by providing $11.4 million in purchase loan mark accretion in Q2 2025.
Bank failures, such as that of Republic First Bank, often stem from issues such as poor management of liquidity risk, overconcentration in risky assets or loan portfolios, or failure to adapt to changing economic conditions. While exact reasons for Republic First's failure are not explicitly detailed, it is suggested that the bank may have suffered from conventional bank risks that led to its failure.
Despite the industry challenges, Geisel aims to leverage Dime's positive momentum in creating a high-performing, local champion. Dime Community Bank has also hired talent from banks that faltered in 2023 and 2024, including Flagstar, Signature, First Republic, and Valley National Bank.
As Dime Community Bank continues to grow and adapt in the ever-changing banking landscape, Geisel's expertise and experience are expected to play a crucial role in its future success.
The appointment of Tom Geisel as Senior Executive Vice President of Commercial Lending at Dime Community Bank, with his extensive experience in the finance industry and business sector, is a strategic move to strengthen the bank's commercial lending business in the face of turbulence within the broader banking industry. After serving as CEO of Republic First Bank, a bank that faced challenges and was eventually acquired by Fulton Financial, Geisel aims to leverage Dime's positive momentum to create a high-performing local champion in the industry.
