President's Message

DIR - Dean Bank President CEO Kevin R. Goffe

President’s Message – May 2024

As Community Banking Month comes to its end, I want to extend my personal gratitude to each and every Dean Bank customer for their loyalty, their support and their commitment to community banks like ours.

As part of Community Banking Month I held Office Hours at our Main Office and met with a number of small business customers.  They shared some important feedback on our electronic banking products and suggested ways the bank might improve its communication process using existing technology.  I’m committed to researching their ideas and grateful for their participation.  I encourage you to consider attending a future listening session with me.

May brings Small Business Week, sponsored through the Small Business Administration (SBA).  As a preferred SBA Lender, Dean Bank is keenly aware of the role the SBA plays in assisting Community Banks like ours.  They help our community grow businesses and create jobs by providing resources and tools, including access to capital.  Dean Bank’s focus is solely on our community and during this Small Business Week I thank our business customers for the impact you make to our community and I encourage you to contact us to discuss your plans & financial needs for 2024 and beyond.  Our Commercial Lending team is highly experienced and deeply committed to providing our small business customers with the products they need to succeed. Customer referrals are always welcome and I encourage you to think of us the next time an opportunity to refer arises.  Reach out to Judy Alfred at jalfred@deanbank.com.

May also brings better weather and an increase in home buying activity.  I’d like to remind you that Dean Bank is a participant in two programs administered through the Federal Home Loan Bank of Boston. Both the Equity Builder and the Housing Our Workforce grant programs offer eligible first-time homebuyers access to thousands of dollars that can be used for down payment assistance and more. If you’re interested in learning more about these programs I encourage you to reach out to Tina Rogers, our Loan Originator.  Visit her page here or email her at trogers@deanbank.com.

I’ve said this before & it bears repeating…your deposits are safe regardless of amount.  We enjoy dual insurance protection for depositors.  The FDIC insures depositors to at least $250,000 while our relationship with the Depositors Insurance Fund insures all deposits above FDIC limits.  This provides peace of mind and simplicity for customers concerned about insuring bank accounts with larger balances.

I want to remind you that we are always prepared to discuss your present and future financial needs at any time.  Our staff stands ready in our four branches.  We still have a real person answer our phones during regular business hours and I am committed to responding to any customer communication received via the President@deanbank.com address. Reach out to us with your questions, comments or concerns.

Thank you once again for your loyalty and your business.

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

 

President's Message - March 2024

Spring is upon us!

The countdown is officially on….Daylight Savings Time…warmer temps…SPRING!

All of us here at Dean Bank offer best wishes as you and your families begin to enjoy the coming of longer days and outdoor activities.

We hope our customers have grown familiar with our new Online Banking solution and have used it to the fullest.  I’ve heard many positive comments despite a few hiccups some customers experienced at initial launch.  To avoid issues in the future it’s important to update both your cell phone number and email address as both are used at times as additional security during the multi-factor authentication login process.  I encourage you to update our branch staff as necessary.

Dean Bank stands proudly with our fellow community banks nationwide as we prepare to celebrate “Community Banking Month” in April.  Community Banking Month is an important endeavor that celebrates the role that community banks fill as a  trusted and local source of financial products, services and solutions.  It also recognizes the integral role community banks play in helping to keep our communities financially strong.

These past few years have been a challenging yet inspiring example of community banks assisting the community in many ways.  Continued inflation concerns and lingering high interest rates on mortgages have sowed the seeds of uncertainty in the minds of consumers.  Community banks remain a safe, steady and secure alternative, concentrating exclusively on the financial success of the consumers and small businesses in our immediate area. 2023 was a successful year for Dean Bank in terms of residential mortgage loans closed locally.  We were the #2 overall lender and #1 bank lender in our market area*.  Further, we continue to aggressively respond to almost continuous consumer fraud attempts in our area by proactively looking for the warning signs.  We contact customers proactively and have thwarted multiple attempts that were in-process, saving customers tens of thousands of dollars.  We also conduct free Elder Fraud Awareness training at local Senior Centers throughout the area.

For decades Dean Bank has provided our deposit customers with dual insurance protection: coverage to at least $250,000 through the FDIC and excess deposit insurance covering the full amount of all deposits regardless of amount through DIF.  We believe this offers complete peace of mind in good times and in difficult times as well.

Community Banks are independent and locally operated institutions. As of December 2023, the FDIC reported there were 4,230 Community Banks across America with more than 29,000 branches.  Each year, Community Banking Month gives Dean Bank the opportunity to honor our community and our customers.  We are proud to do our part in strengthening the economic engine that drives our local economy and are pleased to provide our customers with the local expertise that only a community bank can provide.  Our loan decisions are made locally and our loans are all serviced locally. That gives our borrowers confidence, knowing that their loan will be considered on its merits by someone that is from the area and is familiar with them.  After the closing you will continue to be served by our dedicated and professional community bankers.

Community banks listen to the needs of its customers and neighbors.  We promote local banking every day and have been doing so for 135 years!  We will never stop listening to our customers. To commemorate Community Banking Month, Dean Bank will be doing the following:

  • I’m hosting an office hours style meeting on April 19th at our 21 Main St. Franklin Office at 4:00 pm. If you’d like to attend an RSVP is appreciated by emailing me at President@deanbank.com.  Simply provide your name and cell number.  I’ll have some prepared remarks on the current economic conditions and how they affect community banks & consumers and I’ll share how Dean Bank differs from larger banks. I’ll also take questions and am willing to discuss anything on your minds.
  • Every Friday and Saturday in April our branches will offer complimentary refreshments as a small way to show our appreciation. We love to demonstrate the commitment to our community that an event like Community Banking Month affords us the chance to do.
  • Finally the “Community Impact Project” initiative will come to a close for our fiscal year. More than 70 employees donated over $7,000 to local non-profits of THEIR choosing.

In other Dean Bank news….

We’re rolling out a new customer feedback program and many of you will be contacted by us in some form; whether with an email or via your cell phone.  We’ll be soliciting customer satisfaction feedback on a variety of our product and service channels; digital, teller, loan and new account.  We value your thoughts, comments and feedback and we strongly encourage you to respond when you get one.  Completing it will take just a minute or so and the data we will compile is invaluable.  I thank you in advance!

We will never stop looking for ways to improve and enhance your banking experience…in-person or online!  Enjoy the warm weather and thank you for your continued faith in Dean Bank, particularly as we get ready to celebrate Community Banking Month.

Kevin R. Goffe
President & CEO

*Number of closed loans measurement as reported by the Warren Group. Includes Franklin, Bellingham, Blackstone, Mendon, Hopedale, Milford, Upton, Uxbridge, Millville, Medway, Norfolk and Wrentham.

President's Message - November 2023

The migration of our online banking solution occurred a few days ago and I want to acknowledge our customers for their patience and our staff in particular, for their professionalism and dedication as we work through issues that surfaced with this change.  Our expectation was for a minimum impact event and if your experience was not that, we are all terribly sorry for your inconvenience.  We hope you enjoy the new technology the more you use it.  I remain available to listen to your concerns and invite you to email President@deanbank.com should you wish to share a comment, concern or perhaps even share a positive customer service story about one of our employees.

I’ve listed below some of the more common issues that prevent customers from restoring access to their accounts and require intervention by bank staff:

  • Out of date contact information on file (phone numbers and email addresses) which we use to authenticate previously registered users.
  • Using shortcuts saved in browser software to the login page of the previous online banking service
  • Lengthy account Nicknames (more than 30 characters), particularly with Bill Pay.
  • New online banking enrollments for some users

If you are still having specific technical issues, our staff remains ready to assist you in every way possible.  You can call us during regular business hours at 508.528.0088 or send an email to info@deanbank.com.  Email provides documentation as well as a timestamp of your contact with us and allows us to respond as quickly as possible to you in the manner you prefer (email or a phone call).  If you must refer to a particular account, please include only the last four digits of the account, if known.

The recent closure of the Bank of America branch on Main St. in Franklin saw an influx of new customers to the Franklin Branch, many who came to us for a Safe Deposit Box.  This service is available in all our branches except Mendon should you or a family member need to rent one.

Finally, we realize that life goes on despite the current mortgage rate environment.  Dean Bank has a variety of first and second mortgage options available, including a variety of First-Time Homebuyers solutions.  If you have questions, our staff remains ready to serve you.  Reach out to our Origination Team online: Meet Our Lending Team | Dean Bank.

As the Holidays approach, I would like to wish our customers and their families, our staff and our community a safe, happy and healthy Holiday Season.  Thank you once again for your loyalty and your business.

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

President's Message - October 2023

Important Information related to our recent online banking upgrade.  If you're still having issues the best and fastest way to get in touch with us during non-business hours is to email info@deanbank.com.  If you have changed your cell phone number AND/OR your email address and did not notify the bank beforehand, you'll not be able to complete the "multi-factor authentication" process which involves confirming your cell phone or home phone number as well as your email with a code.  You'll need to contact us personally so that we update your customer record.

  • When you log in for the first time; whether you log in via our new Online Banking product or our existing Mobile Banking app, your Sign-on ID will remain the same. Your "CURRENT PASSWORD" will be the last six digits of your SSN or TIN.   You’ll be required to change it as well as create and answer new security questions once complete.  You will also be asked to verify the phone number and email WE HAVE on file.  If your current number/email is not on file with us you will need to contact us to update.  Unfortunately there is not a workaround for that at this time.
  • All of your Bill Payment payees have converted along with any scheduled bill payments. For our Zelle users, all your payees have converted.
  • If you use Alerts, you’ll have to set them up again as they won’t carry over.
  • If you use Quicken or QuickBooks you’ll have to reactivate your online banking connection after the upgrade is complete. Users may experience a 3-5 day delay in aggregation services.
  • If you use Categories within our current Online Banking, it is has gone away. A brand-new Personal Financial Management tool called Dean Financial Manager is accessible through both Online and Mobile Banking in its place.  This is a major service enhancement and we think you will be pleased with its addition.
  • Our current consumer-based external funds transfer feature is gone, replaced with a transfer tool. Current one-time and recurring transfers will need to be re-entered as a result.
  • Customers who currently use our Consumer and Business Mobile Apps separately will now have access to all of their data available through just one Dean Bank Mobile App. The Business Mobile app has been deactivated.  All your data will be in one app.
  • Finally, we’re reducing the number of available e-Statements to 18 months but are making them accessible via Mobile. Please plan accordingly.

We at Dean Bank are sorry if this process inconveniences you in any way, however, we’re confident that you’ll enjoy the features and benefits found in our new Corillian Online Banking tool.  As always, I thank you for your continued business.  Should you have any questions or concerns, please contact us at info@deanbank.com.

President’s Message – September 2023

As our daily activities move away from the fun and adventure of summer and towards back-to-school, autumn and ultimately the Holidays; I’d like to provide a brief update on what’s happening here at the bank.

We continue to prepare for exciting improvements that will impact our entire suite of electronic banking technology. In the fall of 2023, Dean Bank will be releasing a new online banking product designed with more seamless integration with our Mobile Banking app.  Once live, the new online banking product will provide a number of user-friendly experiences. You’ll have a new external account-to-account transfer tool and we’re adding something that our customers have been asking for; a Personal Financial Management tool. Additionally, you’ll be able to access e-Statements via Mobile...a huge enhancement for many customers!  Complete details will be communicated throughout the month of September, including an exact go-live date, downtime expectations, as well as guidance on what will or will not convert when we go live. Our goal is to minimize inconvenience during this transition.

In other news, you may have been notified by one or more businesses of an ongoing security concern called the MOVEit vulnerability.  Always be cautious of any unsolicited communication that claim to be from Dean Bank as scammers may attempt to take advantage of this situation.  If you are concerned that your account may have been exposed, we encourage you to use Account Alerts, which can be setup through online banking or the Mobile Banking app.  Account Alerts provide notification of activity in your account based on criteria chosen by you.  If you receive any suspicious emails or calls do not respond and don’t hesitate to contact us if you are concerned.

Your trust in us is not taken for granted.  Dean Bank assures you that we are committed to protecting your data and privacy. If you have any questions or concerns about the security of your account, please feel free to reach out to me at President@deanbank.com.

I want to remind you that we are always prepared to discuss your present and future financial needs at any time.  Our staff stands ready in our four branches.  We still have a real person answer our phones during regular business hours and I am committed to responding to any customer communication received via my President@deanbank.com email address. Reach out to us with your questions, comments or concerns.

Thank you once again for your loyalty and your business.

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

President's Message - August 2023

Summer Greetings!

I trust everyone is having an enjoyable summer.  Here at Dean Bank we’re busy working on a number of projects and I hope to have more information to share with you very soon.

We’ve experienced reduced in-branch and drive-up customer transactions on the evenings we’re open late.  Effective November 1st our new branch hours will be:

Franklin (Main Office) and Blackstone Branches

Monday-Thursday 8:30am – 4:00pm

Friday 8:30am – 6:00pm

Saturday 8:30 – 12:00pm

Bellingham Branch

Monday-Wednesday 8:30am – 4:00pm

Thursday 8:30am – 6:00pm

Friday 8:30am – 4:00pm

Saturday 8:30 – 12:00pm

Mendon Branch

Monday-Friday 8:30am – 4:00pm

Saturday 8:30 – 12:00pm

I want to remind you that we are always prepared to discuss your present and future financial needs at any time.  Our staff stands ready.  We still have a real person answer our phones during regular business hours and I am committed to responding to any customer communication received via our President@deanbank.com email address. Reach out to us with your questions, comments or concerns.

Thank you once again for your loyalty and your business.

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

President’s Message – July 2023

 

Summer Greetings!

 

As our employees begin their summer travel plans, I wish each and every Dean Bank customer a safe and enjoyable season filled with great weather, fun and adventure.

 

Here at Dean Bank we are preparing for some exciting improvements that will impact our entire suite of electronic banking technology.  In the fall of 2023, Dean Bank will be migrating away from our current online banking product to a new and improved product designed to seamlessly integrate with our Mobile Banking app and will provide a host of more user-friendly experiences.  You’ll be able to access e-Statements via Mobile…a huge enhancement for many customers!  You’ll have a new external account-to-account transfer tool and we’re adding something that our customers have been asking for; a Personal Financial Management tool.  Complete details are coming to all customers in August, providing you with an exact go-live date, downtime expectations, as well as guidance on what will or will not convert when we go live.  Our goal is to minimize inconvenience during this transition.

 

Are you making travel plans?  I wanted to share a helpful tip that you may not know about.  At this time of year, we get dozens of phone calls from customers about to travel, asking us to put “travel notes” on their accounts.  You can do it yourself in seconds directly from our Mobile app.  Simply log in, taps “Cards” at the bottom of the app and then scroll down to “Manage Travel Plans”.  Tap on it and let us know when and where you’ll be traveling, ensuring that your debit card purchases will go through safely.

 

While economic conditions and the rate of inflation remains unpredictable, I’m pleased that the brief period of uncertainty for the stability of community financial institutions has passed.  I’ve said this before and it bears repeating…your deposits at Dean Bank are safe regardless the amount.  We enjoy dual insurance protection for depositors.  The FDIC (FDIC: Deposit Insurance) insures deposits to at least $250,000 while our participation in the Depositors Insurance Fund (DIF - Depositors Insurance Fund (difxs.com)) insures all deposits above FDIC limits.

 

I want to remind you that we are always prepared to discuss your present and future financial needs at any time.  Our staff stands ready in our four branches.  We still have a real person answer our phones during regular business hours and I am committed to responding to any customer communication received via our new President@deanbank.com email address. Reach out to us with your questions, comments or concerns.

 

Thank you once again for your loyalty and your business.

 

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

 

April, 2023

April is Community Banking Month –

This year, perhaps more than any other year in recent memory, Dean Bank stands proudly with our fellow community banks nationwide as we commemorate the month of April as “Community Banking Month”.  Community Banking Month is an important endeavor that celebrates the role that community banks fill as a  trusted and local source of financial products, services and solutions.  It also recognizes the integral role community banks play in helping to keep our communities financially strong.

These past few years have been a challenging yet inspiring example of community banks assisting the community in many ways.  While the pandemic created job instability, financial hardship and difficult times for our community, community banks like ours responded with loan and deposit solutions that kept the local economy going strong.  More recently, inflation worries and bank failures have sowed the seeds of uncertainty in the minds of consumers.  Community banks remain a safe, steady and secure alternative, concentrating exclusively on the financial success of the consumers and small businesses in our immediate area. Currently, we are responding aggressively to numerous fraud attempts in our immediate area by creating and conducting Elder Fraud Awareness training; offering it to local Senior Centers at no cost.

For decades, Dean Bank has taken the additional safety measures of offering our deposit customers dual insurance protection: coverage to at least $250,000 through the FDIC and excess deposit insurance covering the full amount of any deposits through DIF.  We believe this offers complete peace of mind in good times and in difficult times as well.

Community Banks are independent and locally operated institutions. As of December 2022, the FDIC reported there were about 4,250 Community Banks across America with more than 29,000 branches.  The Quarterly Banking Profile indicates Community Banks represent 90% of the number of financial institutions serving the industry, yet the combined size of Community Banks account for just 11.5% of industry assets.  Notably the combined asset value of those Community Banks is less than the value of the largest bank in the US, which controls over $3.2 trillion of industry assets.

Each year, Community Banking Month gives Dean Bank the opportunity to honor our community and our customers.  We are proud to do our part in strengthening the economic engine that drives our local economy and are pleased to provide our customers with the local expertise that only a community bank can provide.  Our loan decisions are made locally and our loans are all serviced locally. That gives our borrowers confidence, knowing that their loan will be considered on its merits by someone that is from the area and is familiar with them.  After the closing you will continue to be served by our dedicated and professional community bankers.

Community banks listen to the needs of its customers and neighbors.  We promote local banking every day and have been doing so for more than 130 years!  We will never stop listening to our customers. To commemorate Community Banking Month, Dean Bank will be doing the following:

  • I’m hosting two “office hours” style meetings on April 21st. The first is at our 21 Main St. Franklin Main Office at 11:00 am and the second at our 8 Main St. Blackstone Branch at 2:00 pm.  An RSVP is appreciated by simply emailing info@deanbank.com with your name and choice of which meeting you’ll be attending.  I’ll have some prepared remarks on the current situation facing some banks and specifically how Dean Bank differs from larger banks, but am willing to discuss anything on your minds.
  • A FREE First-Time Homebuyers Workshop will take place on April 26th at 5:00 pm in our Main Office Branch. Speakers will discuss the home-buying process, different programs currently being offered to assist with down payments and closing costs, the appraisal, inspection and closing process…& more!  RSVP to trogers@deanbank.com to reserve your spot.  Refreshments will be served and every attendee will receive a gift for attending.
  • A FREE Fraud Awareness workshop will be held on Friday, April 28th at 12:00 – 1:00 pm at our Main Office. You’ll hear from our Compliance & Security staff as they discuss current fraud scams in our area.  A member of our Retail Banking staff will share their experiences working with customers who were targeted victims, offering observations and insight into what occurs as someone is about to withdraw money to give to a fraudster.  Finally, our Operations Dept. will share what can and unfortunately cannot be done to recoup funds lost to criminals who successfully defraud a consumer or business.  Lunch is provided.  Interested?  RSVP to mcarroll@deanbank.com for complete details.
  • Every Friday and Saturday in April our branches will offer complimentary refreshments as a small way to show our appreciation. We love to demonstrate the commitment to our community that an event like Community Banking Month affords us the chance to do.
  • The “Community Impact Project” initiative will come to a close for our fiscal year. More than 70 employees donated over $7,000 to local non-profits of THEIR choosing.  Our customers were also encouraged to submit charities for consideration and I’m delighted to report that we received 18 suggestions, 10 of which received a donation as a result.

In other Dean Bank news….

Our Mobile app is now the place to go for all your consumer debit card controls.  Turn your card on or off instantly, review recent transactions, view your uChoose Debit Card Rewards balance and access uChoose Rewards to redeem, analyze your spending insights, set controls & alerts and manage travel plans.  You can even report your card lost or stolen or reset your PIN inside our Mobile Banking App!

Finally, we’ll never stop looking for ways to improve and enhance your banking experience…in-person or online!  Stay tuned for an announcement in the next few months about a brand new Online Banking platform we’ll be moving to in the Fall.

Enjoy the warm weather and thank you for your continued faith in Dean Bank, particularly as we celebrate Community Banking Month.


Kevin R. Goffe
President & CEO 

President’s Message – March 2023

The past few days have brought news of a number of “bank failures”; currently one based out of California (Silicon Valley Bank) and the other New York (Signature Bank).  As President and CEO of Dean Bank my message is simple and clear: your deposits at Dean Bank are safe and secure.

Dean Bank is a fundamentally different type of financial institution from both Silicon Valley Bank (SVB) and Signature Bank.  We’re a community bank, first and always.  Our customers are local, our focus is local and most importantly our lending decision-making is local.  We are a mutual bank and have no stock-holders; therefore our depositors are our owners.  SVB catered primarily to the tech and venture capital start-up industry while Signature Bank’s niche was crypto-currency customers.  Dean Bank’s focus centers almost exclusively on the consumers and small businesses of Central and Southeastern Massachusetts as well as Northern Rhode Island.

It bears repeating…your deposits are safe regardless the amount.  We enjoy dual insurance protection for depositors.  The FDIC (FDIC: Deposit Insurance) insures depositors to at least $250,000 while our relationship with the Depositors Insurance Fund (DIF - Depositors Insurance Fund (difxs.com)) insures all deposits above FDIC limits.

We employ a conservative and thoughtful approach towards Asset/Liability Management.  We examine loan requests by local bank management and Board oversight.  We meet regularly to assess current and future risks in the marketplace; both locally and nationwide and we make decisions based on what is best long-term for our depositors and loan customers.  The policies and procedures that affected the banks mentioned above, along with the inherent risks, are not present at any level with Dean Bank.

I want to remind you that we are always prepared to discuss your present and future financial needs at any time.  Our staff stands ready in our four branches.  We still have a real person answer our phones during regular business hours and I am committed to responding to any customer communication received via the info@deanbank.com address. Reach out to us with your questions, comments or concerns.

Thank you once again for your loyalty and your business.

 

Sincerely,
Kevin Goffe
President & CEO – Dean Bank

President’s Message – November 2022

I hope this message finds you all well as we prepare for the upcoming Holiday Season.  It is our sincere wish that our co-workers and families, customers and neighbors each have a safe and satisfying season.

Dean Bank is always looking for ways to increase our charitable presence in the communities we serve.  Starting November 1st and continuing until the end of our fiscal year on April 30th of 2023 we are embarking on a bank-funded partnership directly between the community and Dean Bank employees.  Introducing the Community Impact Project.

The concept is simple…Dean Bank is giving each of our 76 employees $100 to donate to a charity of THEIR choosing.  There are no restrictions on their ability to donate, though we feel as an organization that making a local impact through a donation to a local charity benefits our community more directly.

Each month between November and April we will select employees at random until everyone has had the chance to select a charity.  Some already have a charity in mind but we’ve learned that others do not.  Here’s where YOU can help!

If you’re a charity or if you know of a local charity that may benefit from a $100 donation from Dean Bank, contact us via email at info@deanbank.com.  Give us their name, web site address and any other pertinent contact information.  We will pass every email along to our employees and give YOUR charity a chance to benefit from proceeds of the Dean Bank Community Impact Project.

Thank you, most sincerely, for your continued business.  Our Community Bank prospers ONLY when our community overall does.  We always want customers to say “Dean Bank…it’s MY Bank!”  We hope the Community Impact Project gives you another reason to say it with satisfaction and pride!

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

President's Message May 25, 2022

I hope this message finds each of you well.

I write this message in the immediate aftermath of yet another school shooting; this time an elementary school in Texas where the death toll stands at 19 children and 2 adults.  I write this as 140 children 11 years old or younger have died so far this year from gun violence.  I write this as more than 500 teenagers have lost their lives to gun violence since January 1st and I write this as 7,632 Americans are no longer with us this year due to (non-suicide) gun-related deaths*.

12 American cities broke an unwanted record in 2021; a new high for homicides…the vast majority committed with a firearm.  These include St. Paul, MN, Austin, TX, Portland, OR and Philadelphia, PA.  It matters very little what part of the country you live in, gun violence continues to rise across the US.

Dean Bank passionately supports the United States Constitution and all its Amendments; this is not a political soapbox! We support American citizens’ rights under the Constitution but we cannot let June 3 - 5, Gun Violence Awareness Weekend, pass without expressing our outrage and our sorrow for the lives lost, as well as our frustration that more is not being done to prevent gun deaths.

Real dialogue needs to take place, from which real action may occur.  Gun violence is a multi-faceted problem but it is a problem with permanent consequences.  Communities across the United States; companies, organizations, municipalities and non-profits are working together to do their very small part to bring awareness this problem to the forefront, along with ways to educate and get involved.

From now through June 3rd – June 5th Dean Bank’s logo will remain orange.  Our employees will be encouraged to wear orange on Friday June 3rd to help increase awareness of Gun Violence Awareness Day.  It’s a small gesture but it’s a start.  Dialogue may produce ideas and ideas may produce change that makes a difference.

Thank you.

Kevin R. Goffe
President & CEO

*2022 gun violence death statistics taken from https://www.gunviolencearchive.org/

President’s Message – April 2022

As we look forward with anticipation to warmer weather, the diminishing health threat of Covid and a return to so many of the outdoor activities we’ve missed for so long, it is with gratitude for our customers that community banks nationwide commemorate the month of April as “Community Banking Month”.  Community Banking Month is an important endeavor that celebrates the role that community banks fill as a trusted and local source of financial products, services and solutions.  It also recognizes the integral role community banks play in helping to keep our communities financially strong. These past two years have been an inspiring example of community banks assisting the community as the pandemic created job loss, financial hardship and difficult times for our families, our neighbors and our community.

Community Banks are independent and locally operated institutions. Today there are about 4,750 Community Banks across America, with more than 29,000 branches.  According to the FDIC Quarterly Banking Profile, we represent 92% of the number of financial institutions serving the industry, yet the combined size of Community Banks account for just 12% of industry assets.  Notably the combined value of those Community Banks is less than the value of the largest bank in the US, which controls over $3 trillion of industry assets.

Each year, Community Banking Month gives Dean Bank the opportunity to honor our community and our customers.  We are proud to do our part in strengthening the economic engine that drives our local economy and are pleased to provide our customers with the local expertise that only a community bank can provide.  Our loan decisions are made locally and our loans are all serviced locally. That gives our borrowers confidence, knowing that their loan will be considered on its merits by someone that is from the area and is familiar with them.  After the closing you will continue to be served by our dedicated and professional community bankers.

Community banks listen to the needs of its customers and neighbors.  We promote local banking every day and have been doing so for more than 130 years!  We will never stop listening to our customers.  Every Friday and Saturday in April our branches will offer complimentary refreshments as a small way to show our appreciation.  We love to demonstrate the commitment to our community that an event like Community Banking Month affords us the chance to do.

In other Dean Bank news….

If you have not done so yet, please register your debit card with our NEW Debit Card Rewards program…uChoose!  Here’s a quick link to get you started: https://www.uchooserewards.com/.

Our Blackstone Branch will be undergoing some renovations starting in the next few weeks.  Our plan is to keep disruptions to a minimum.  We’re confident you’ll like the results!

Finally, we hope you’re enjoying our new Card Valet debit card control application.  Our consumer customers will be receiving information shortly about our branded Card Manager app, with instructions on how to download from the App Store or Google Play store.

Enjoy the warm weather!


Kevin R. Goffe
President & CEO  

President’s Message – January 2022

On behalf of the Board, Management and Staff at Dean Bank, I’d like to extend my best wishes for a happy, healthy and prosperous 2022 to our customers and our community.  We remain appreciative of your continued confidence in us and want you to know that your business is valued by every Dean Bank employee every day.

With Covid still creating staffing challenges throughout our branch network, we are utilizing the orange alert banner found at the top of the Home Page at www.deanbank.com.  Here you will find a daily status report announcing if we are fully open, have restricted access to drive-up only or have temporarily closed one or more of our four branches.  Our goal is to be fully staffed each day but realize this may not be possible for short periods.  We appreciate your patience and your understanding.  Signs point to an end being in sight and hope things return to normal shortly.

As I have already reported to you, the bank has been very busy over the past few months and rollout of four major enhancements to our suite of electronic banking services will go live on January 31st.  We have already communicated details but I would like to summarize them for you here once again.  As always, should you have any questions please reach out to us by telephone at 508.528.0088 or via email at info@deanbank.com.

  • On January 31, 2022, Dean Bank Rewards will move to a platform called uChoose. You will still earn points the same way you do now; however, this program gives you a new way to redeem them.   You can still earn and redeem with the current Dean Bank Rewards program through January 30, 2022.  You may log into Dean Bank Rewards on our Home Page of www.deanbank.com or call 877.687.7937 to check your points balance.  After January 30, your existing points balance will automatically transfer to uChoose.  Once you have registered, the new uChoose program will allow you to select from dozens of rewards including gift cards, merchandise, travel—you can even redeem points to make charitable contributions. Expect an email from the bank early next week with additional details.
  • Also on January 31st the bank will move away from our current Debit Card control / alert app, Mobi Money. Around the middle of February, the bank will launch a custom app called Dean Bank Card Manager.  There will be an interim period of approximately three weeks before our app is ready to download.  Over that period, customers will be able to download and use the already-available generic “Card Valet” app. Once Dean Bank Card Manager goes live and downloaded all your settings will move with it.  Simply provide your login credentials and begin using our new branded app, Dean Bank Card Manager.  You’ll be able to turn your debit card on and off in real time, create travel exceptions and set a variety of alerts including low balance, purchase amount and many more.  Expect a final email specifically detailing instructions early next week.  Links to Card Valet will be included in this email.  You may also find them on our web site as of January 31st.
  • The last day of January will also see the launch of our brand new Enfact fraud detection system. Debit card customers will be able to receive alerts regarding suspicious or potentially fraudulent transactions via email, text and phone call whenever our new detection system flags a transaction.  More details will be provided next week.
  • Finally, between January 31st and February 1st all Dean Bank ATM’s will undergo a mandatory software upgrade and will be brought out of service temporarily as a result. On 1/31 the Franklin Lobby ATM, the Bellingham drive-up ATM and the Blackstone ATM will each be out of service beginning at 8:30 am.  On 2/1 the Mendon ATM, the Bellingham lobby ATM and the Franklin drive-up ATM will be out of service beginning at 8:30 am.  Each machine will be out of operation for between four and six hours.

We hope you remain healthy as 2022 continues and thank you for your business.

Sincerely,

Kevin Goffe
President & CEO – Dean Bank

A Special Holiday President's Message to our customers

As the 2021 Holiday Season reaches its final few weeks, I join with the Management and Staff of Dean Bank in wishing our customers and neighbors, family and friends Season’s Greetings!  Whether it’s “Merry Christmas”, “Happy Hanukkah” or simply “Happy Holidays”...the sentiment behind the words remains. We deeply appreciate your continued confidence in us and want you to know that your business is valued by every Dean Bank employee every day.  Please accept our best wishes for a healthy, happy and prosperous new year.

In an effort to provide our employees the opportunity to enjoy their Holidays, all branches will close at 1:00pm on Friday December 24th and will be closed on Christmas Day.  Branches will close at 4:00pm on Friday December 31st and will be closed on New Year’s Day.

The bank has been very busy over the past few months, rolling out the first of three major enhancements to our suite of electronic banking services.  The first, Secure Alerts, went live last month.  Secure Alerts allows customers to set and receive a full array of alerts across multiple banking channels; including text, email and mobile banking push notifications.  You can find Secure Alerts within Online Banking.

In just a few weeks, two other major enhancements will go live.  We have already communicated details across many channels including email but I’d like to summarize them for you here.  As always, should you have any questions please reach out to us by telephone at 508.528.0088 or via email at info@deanbank.com.

  • On January 31, 2022, Dean Bank Rewards will move to a platform called uChoose. You will still earn points the same way you do now; however, this program gives you a new way to redeem them.   You can earn and redeem with the current Dean Bank Rewards program through January 30, 2022.  You may log into Dean Bank Rewards on our Home Page of www.deanbank.com or call 687.7937 to check your points balance.  After January 30, your existing points balance will automatically transfer to uChoose.  Once you've registered, the new uChoose program will allow you to select from dozens of rewards including gift cards, merchandise, travel—you can even redeem points to make charitable contributions.
  • Also on January 31st the bank will move away from our current Debit Card control / alert app, Mobi Money. Around the middle of February will launch a custom app called Dean Bank Card Manager.  There will be an interim period of approximately three weeks before our app is ready to download.  Over that period, customers will be able to download and use another app. Once Card Manager goes live, all your settings will move with it.  Simply provide your login credentials and begin using our new branded app.  You’ll be able to turn your debit card on and off in real time, create travel exceptions and set a variety of alerts including low balance, purchase amount and many more.

Once again…Happy Holidays to you and yours from all of us at Dean Bank.

A Special Message to our customers regarding changes to branch operations, May 28, 2021

Dean Bank has been closely monitoring the improving conditions in our community and would like to offer an update to branch operations as of Tuesday, June 1st.  We remain committed to following both the CDC and the Commonwealth’s mandates and guidelines but are equally committed to maintaining our own; ones that customers and employees alike have found reassuring.

Please be advised that as of Tuesday June 1st building capacity restrictions will be eliminated.  Although the CDC and the Governor have eliminated both indoor and outdoor mask requirements we have asked that our employees having direct customer interaction still wear a mask while serving customers.  Customers are encouraged to maintain social distancing as well as to wear a mask or other face covering while in our branches and while meeting with Dean Bank employees.  Hand sanitizer remains available via dispensers located within each location and upon entering; we invite customers to apply before conducting in-person business.

I wish you and your family health and safety as we proceed into Memorial Day weekend and into summer with thoughts of baseball games, concerts and cookouts!  I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.

Sincerely,

Kevin Goffe
President & CEO

Dean Bank

May, 2021

Quite a bit has happened since my last communication.  Dean Bank has been closely monitoring the improving conditions in our community and would like to offer another message of appreciation and gratitude to our employees….our customers… and the community at-large for their dedication, their perseverance and their loyalty throughout the Covid-19 pandemic.  “THANK YOU!”  Though the pandemic is certainly not over, we are seeing sustained improvement…making us all hopeful for a continued return to normalcy.

We remain committed to following both the CDC and the Commonwealth’s mandates and guidelines but are equally committed to maintaining our own; ones that customers and employees alike have found reassuring.  Building capacity restrictions will be eliminated as early as June 1st.  Although the CDC has eliminated both indoor and outdoor mask requirements for fully vaccinated individuals, employees having direct customer interaction will still be required to wear a mask while serving customers until the Commonwealth lifts the face mask requirements.  Until such time, customers are still required to maintain social distancing as well as to wear a mask or other face covering while in our branches and meeting with Dean Bank employees.  Hand sanitizer remains available via dispensers located within each location and upon entering; we invite customers to apply before conducting in-person business.

On the business front, we are seeing that mortgage rates and auto loan rates remain near historic lows!  If you have not yet refinanced, please consider doing so with Dean Bank.  Furthermore, it is still a great time to purchase a home.  You may apply in minutes at deanbank.com.  Simply click “check rates”, “refinance my mortgage” or “apply for a vehicle loan” next to the “I want to” phrase of the dropdown menu found right on our Home Page.

I wish you and your family health and safety as we proceed into the summer months with thoughts of baseball games, concerts and cookouts!  I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.

Sincerely,

Kevin Goffe
President & CEO
Dean Bank

April, 2021

Community Banking Month: An Important Celebration at an Important Time

As we look forward with anticipation to diminishing numbers of Covid cases and a return to the many outdoor activities we’ve missed for more than a year we, along with community banks nationwide, take this opportunity to express our gratitude for our customers and commemorate the month of April as “Community Banking Month”.  Community Banking Month is an important endeavor that celebrates the role that community banks fill as a trusted and local source of financial products, services and solutions.  It also recognizes the integral role community banks play in helping to keep our communities financially strong. This past year has been a unique example of community banks directly impacting the community as the pandemic created job loss, financial hardship and difficult times for our families, our neighbors and our community.

Community Banks are independent and locally-operated institutions. The nearly 4,600 Community Banks across America today are recognized for personalized individual service, lower fees and their unyielding focus on the local economy.  According to the FDIC Quarterly Banking Profile Community Banks represent 92% of the number of financial institutions serving the industry, yet the combined size of Community Banks account for just 12% of industry assets.  Notably the combined value of the 4,600 Community Banks is less than the value of the largest bank in the US, which controls over $3 trillion of industry assets.  Despite our small size, Community Banks accounted for 45% of the growth in loans to business in 2020; substantially through the Payroll Protection Program.  Dean Bank proudly provided over $17 million to nearly 300 area business through this program.

Each year, Community Banking Month gives Dean Bank the opportunity to honor our community and our customers.  We are proud to do our part in strengthening the economic engine that drives our local economy and are pleased to provide our customers with the local expertise that only a community bank can provide.  Our loan decisions are made locally and our loans are all serviced locally. That gives our borrowers confidence, knowing that their loan will be considered on its merits by someone that is from the area and is familiar with them.  And after the closing you will continue to be served by our dedicated and professional community bankers.

Community banks listen carefully to the needs of its customers and neighbors.  We offer an avenue to promote local banking every day and Dean Bank has been doing so in our community for more than 130 years!  We’ll never stop listening to our customers.  Stop in or check us out online and see how we can help solve your financial challenges, big or small.  We’d love to demonstrate the commitment to our community that an event like Community Banking Month affords us the chance to do.

 

Stay safe and healthy,

Kevin R. Goffe
President & CEO
Dean Bank

March 2021

Winter’s final weeks are here and our community is making the welcome transition to longer days, warmer weather and a continued decline in the number of new Covid-19 cases.  Dean Bank has been closely monitoring the improving conditions and would like to take a moment to offer a message of appreciation and gratitude to our employees….our customers… and the community at-large for their dedication, their perseverance and their loyalty throughout the Covid-19 pandemic thus far.  “THANK YOU!”

We continue to move forward in the reopening / return to business process and are pleased to announce that as of Friday, March 5th the doors to our branches will be unlocked during regular business hours.  Our Management Team still meets regularly to maintain a workplace where our employees remain safe and healthy, while still providing the level of personalized service you have come to expect as a Dean Bank customer.

We remain committed to following the Commonwealth’s mandates and guidelines but are equally committed to maintaining our own; ones that customers and employees alike have found reassuring.  For the foreseeable future, employees and customers are still required to maintain the six-foot social distancing practice as well as to wear a mask or other face covering at all times while in our branches.  Hand sanitizer remains available via dispensers located within each location and upon entering, we ask customers to apply before transacting in-person business.    We will monitor and limit if necessary the number of visitors in the branch at one time.  Some customers may be asked to wait outside for a few moments in order for others to conclude their business and exit the building.  Though still not ideal, face-to-face meetings may occur safely if necessary.  Contact the employee you plan to meet with for additional instructions/details.

For some good news… mortgage rates and auto loan rates remain near historic lows!  If you have not yet refinanced, please consider doing so with Dean Bank.  Furthermore, it is still a great time to purchase a home.  You may apply in minutes at deanbank.com.  Simply click “check rates”, “refinance my mortgage” or “apply for a vehicle loan” next to the “I want to” phrase of the dropdown menu found right on our Home Page.

I wish you and your family health and safety as thoughts turn to the coming spring!  I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.

Sincerely,

Kevin R. Goffe
President & CEO
Dean Bank

December 1, 2020

To our customers:

Given the recent surge in local COVID infection rates, we have decided to modify branch access in an effort to limit customer/employee interaction.  Effective Wednesday December 2nd, branch access will be restricted.  Though still open for business, branches will lock their doors.  We encourage customers to use the drive-up or call ahead and arrange for curbside banking.  Should your transaction require in-branch access, arrangements can be made on an individual basis.

We understand this may be frustrating; however, our goal is to remain open for business for the long-term.  These adjustments are temporary and we plan to return to normal business conditions as soon as it is safe to do so.  Thank you for your cooperation.

Sincerely,

Kevin R. Goffe
President and CEO
Dean Bank

November, 2020

A message from Dean Bank President & CEO Kevin R. Goffe

The month of November is my favorite month of the year.  It's a wonderful time to reflect on all I have to be thankful for in my personal and professional life.  It's a time to express my gratitude for our loyal and supporting customers and a devoted staff of bankers committed to serving the community in good times and in challenging times.  The past seven months have brought unprecedented challenges to serving the public throughout the COVID-19 pandemic.  As the challenges persist we will continue in our diligence to serve you safely and as effectively as possible.  For your patience and understanding, we can only say “THANK YOU!”

As we approach the holidays with visits from out-of-town visitors more likely, we shall be monitoring the health risks in the communities we serve as provided by the Commonwealth.  We will keep you informed of any necessary changes to our operating hours and level of service as conditions warrant.  We remain committed to following the Commonwealth’s mandates and guidelines but are equally committed to making our own decisions to ensure the safety and health of our customers and employees alike.

November is also a time to show support for all the small businesses in our community and this year it is more important than ever.  No matter what you're looking to purchase, or service you desire, chances are there is a local alternative convenient to your home or workplace.  When you shop locally your hard earned money gets reinvested locally.  Local businesses are employing your neighbors with quality jobs and paying taxes to support our schools and emergency services.  Money spent locally has a multiplying effect in the community as local businesses contribute disproportionately more time and money into local non-profit organizations and youth groups.  Local businesses use local sources to improve craftsmanship, reliability of delivery, quality and freshness or just to support the local community.

This holiday season I challenge you to shop a local small business first.  Although Saturday, November 28th is officially Small Business Saturday®, this year let’s make every day feel like Small Business Saturday®.  Shop locally for the sake of our community.

Happy Thanksgiving!

Kevin R. Goffe

President & CEO
Dean Bank

 

May, 2020

A message from Dean Bank President & CEO Kevin R. Goffe

I have a number of words to describe 2020 so far; surreal, challenging, difficult, dangerous….but at the same time, inspiring, cooperative, uplifting and hopeful.

For the past eight weeks or so, Dean Bank has fundamentally transformed the way it serves its retail banking, mortgage, small business and commercial customers.  Every element of service “before” has been transformed in ways we never conceived of just 90 days ago.  Most of our workforce has been working remotely quite effectively while our branch, mortgage and commercial departments have been on-site processing and closing loans in historic numbers.

We are in the beginning stages of the reopening process.  Our Management Team is meeting regularly to design a workplace where our employees will remain safe and healthy, while still providing the level of personalized service you have come to expect as a Dean Bank customer.

I must be frank with you; it is going to look and feel different.    We are committed to following the Commonwealth’s mandates and guidelines but are equally committed to creating our own; ones that customers and employees alike will find reassuring.  I will be sending out specifics in a separate communication very soon but will share one major component with you now.  For the foreseeable future, customers will be required to wear a mask or other face covering at all times while in our branches and will be expected to use hand sanitizer (available via dispensers located within each location) upon entering and exiting any Dean Bank office or branch.

With Memorial Day around the corner, we anticipate offering more face-to-face service shortly thereafter.  With warmer weather coming, we hope that the severity of this virus wanes and that society can get on with the business of doing business locally.  We look forward to that moment.

For some good news, look at mortgage rates!  They remain at historic lows.  If you have not yet refinanced, consider doing so with Dean Bank.  Now is also a great time to consider purchase a home.  You may apply in minutes for either scenario at deanbank.com.  Simply click “check rates” next to the “I want to” phrase on our Home Page.

Another positive development has been the adoption of our electronic banking services such as Mobile Banking, Mobile Check Deposit and Online Deposit Account Opening.  We are proud that our services are available for your use during this extended stay-at-home environment.  Visit deanbank.com and open a CD, checking account or savings product right from the comfort of your home or office.  It can also be found as a Tab in Online Banking. If you need assistance making a mobile deposit, we created a video tutorial found on our web site.

I wish you and your family health and safety.  I look forward to seeing you in person in the days ahead and I speak for our staff when I say “THANK YOU!” for trusting us with your business.

 

PRESIDENT"S MESSAGE REGARDING COVID-19 CAN STILL BE FOUND HERE:

Amid ongoing concerns about the Coronavirus (COVID-19), we want to assure you that Dean Bank is closely monitoring the latest from the Center for Disease Control (CDC) as well as other state and federal agencies.  We are taking all necessary measures for the health and safety of our customers, colleagues and the communities we serve. Below is an updated summary of steps taken to ensure customer and employee safety while the bank is open for business.

  • NEW: Dean Bank remains steadfast in its support of our customers, our employees and our community!  We've seen tremendous things in the midst of the COVID-19 pandemic.  We've seen our community rally together to support those in need.  We've seen our community hospital face this crisis head on, small businesses that made and donated hundreds of meals, individuals creating masks for their co-workers after they'd completed a full day's work, local businesses remaining open to serve despite the health risks that posed...the list goes on and on.  On behalf of each of our employees we say THANK YOU!
  • As of April 27th, financial institutions, including Dean Bank, have been instructed to temporarily suspend collection of Regulation D fees, which occur when a customer makes more than 6 withdrawals from a Savings account during a calendar month.  The federal government understands a customer's need for cash to cover expenses may increase from a "non-transaction" account like a savings or money market account and wants consumers to know they can do so without penalty at this time.
  • The SBA announced additional debt relief efforts for small businesses.  For more information, please click here or contact any of our Commercial Lending staff and they'll be happy to have a conversation with you.
  • The SBA issued new guidelines regarding the PPP.  The press release can be found here.  It's imperative that Congress approved additional funding for the program as funds have completely run out from the first round.
  • As of Thursday, April 16, Dean Bank's Mendon Branch will close at 4:00 pm on Thursdays and Fridays until our area returns to full business activities.  We apologize if this temporary change creates any hardship.  Please remember our other three branches will operate with normal business hours.
  • As of March 31st the SBA sent out new guidelines for faster assistance to small businesses.  They stated that EIDL applicants that already submitted in the previous system received an email instructing those that wish to request a FORGIVABLE advance of up to $10K to submit a new application on the new portal. If you are submitting a new application, please follow the new streamlined steps in the portal (https://covid19relief.sba.gov/#/) as the questions are mostly the same from all the required documents in the previous version of the portal. All small businesses and nonprofits are encouraged to apply for EIDL and request an Economic Injury Disaster Loan advance of up to $10,000.  The  loan advance will not have to be repaid.  If you already submitted an application and want to check on status, please call customer service at 1-800-659-2955 or e-mail disastercustomerservice@sba.gov
  • As of March 17, 2020, Dean Bank branches will remain open for business; however, service will occur via the drive up lanes, night deposit and ATM’s only in our Franklin, Bellingham and Blackstone locations.  We hope customers will understand that this is a temporary situation and we apologize in advance if service time is longer than normal.  Customers who require in-person service for services such as access to their safe deposit boxes should call their local branch (branch telephone numbers can be found here) and a member of our customer service staff will make an appointment for your transaction to be completed. Coin counting is temporarily suspended in all branches.   Our Mendon Branch will restrict service to via the night drop & ATM only.  More information will be communicated should conditions warrant it.
  • Business customers may call ahead for coin orders and the bank will make every effort to fill that order for you as quickly as possible.  A member of our branch staff will contact you with pick up details.
  • We have created a special e-mailbox, outreach@deanbank.com, for customers who may be struggling financially as a direct result of the virus to share their specific concerns related to business or personal accounts with the bank.  Please do NOT share specific account number or balance information via email but do include the best method for us to contact you (phone or email).
  • If you are concerned with going out in public, you can conduct most transactions via Online Account Opening, Telephone Banking, Online Banking or Mobile Banking (including Mobile Check Deposit).  If you do not already have our app you can download it via the App or Google Play Store. Our staff is prepared to answer questions about these services (in person or by telephone or email) and in many cases provide instruction to you, should you have a question about how to use our e-Services.  Additionally, our website (www.deanbank.com) provides a host of valuable resources such as ATM locations and Branch Hours.
  • Business customers that may be experiencing temporary cash flow issues may contact the SBA.  To explore options including loan payment deferments of up to 6 months visit www.sba.gov to begin the process or speak with a member of our Commercial Lending staff.
  • Finally, if you would like to speak with a member of our staff please call us at 508.528.0088 during regular business hours.

We will continue to closely monitor the situation and communicate any additional measures necessary to support you and the communities we serve as needs arise.

Sincerely,

Kevin R. Goffe
President & CEO

 

Dean Bank obtains 95% of its funding locally and reinvests that money in local housing, businesses and through other consumer financing needs. Despite our small size in the financial services marketplace, Dean Bank has provided over $1 billion in residential housing finance over the past 15 years. Thank you for ranking us the #1 Community Bank in each of the markets we serve by voters in the CNC Reader's Choice for 12 years in a row!

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