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The dinner will be held on on Tuesday, April 19 at the Glen Island Harbour Club in New Rochelle. The Westchester Bank and its President and CEO, John Tolomer, will receive the Small Business Success award.
The Westchester Bank was formed in 2008, a time when the nation was facing the worst economic downturn since the Great Depression. It was a year in which large financial and banking institutions were failing and consumer confidence was at its lowest ebb -- not exactly the most propitious time to start a small business anchored in Yonkers.
Yet The Westchester Bank had correctly identified a void in the marketplace and opened a local community bank with a simple, yet fundamental, formula for success. Starting with just eight employees in 2008, the Bank currently employs 56 people. The Bank has expanded from a single branch to five full-service branches throughout Westchester County and has a newly established headquarters in White Plains.
In just seven years, the Bank has grown from $39 million in assets to more than $600 million in total assets. Deposits have increased from $22 million to $479 million, while loans increased from $7 million to $510 million.
The other award winners to be honored at the dinner are:
- Corporate Citizenship: Westchester Medical Center in Valhalla. Michael Israel, President and CEO, to accept the award.
- Entrepreneurial Success: Steiner Sports in New Rochelle. Brandon Steiner, Founder and CEO, to accept the award.
- Women in Business Success: Wendy Wollner, Founder & President, Balancing Life’s Issues, Inc.
- Family Owned Business: The College of Westchester in White Plains. Mary Beth Del Balzo, President, to accept the award.
- Chairman’s Recognition Award: N. Dain's Sons Co., Inc. in Peekskill. Jeffrey Dain, President, to accept the award.
For more information about sponsorship opportunities for the Business Hall of Fame Awards Dinner, please call (914) 948-2110 or visit www.thebcw.org
