PITTSBURGH, PA--(Marketwired - October 15, 2015) - Dollar Bank's Board of Directors has appointed James J. McQuade to become the Bank's new President effective November 1st, 2015. Robert P. Oeler, who has lead Dollar Bank since 2007, will remain the bank's CEO until sometime in 2016, when he will step down from day-to-day operations. McQuade will assume the role of Chief Executive Officer upon Mr. Oeler's retirement. Oeler will continue as Chairman of the Board of Directors.
Dollar Bank has experienced strong growth during Mr. Oeler's leadership having grown $2.0 billion in his eight years as President and CEO. Reflecting on the forthcoming change, Oeler stated, "Jim's deep knowledge of our industry and his leadership role in Dollar Bank's evolving future make him the ideal choice to be our next president. Jim inherits an exceptionally strong management team, and I have no doubt that the Bank will continue to flourish."
Mr. McQuade has 27 years of banking experience, 20 of them with Dollar Bank. Currently, he is Executive Vice President of Retail Banking where he manages all Dollar Bank branch offices, loan centers, card operations, security and facilities, plus retail training and operations. He also serves on Dollar Bank's executive management committees.
"As the largest independent mutual bank in the country, Dollar Bank's focus has always been on our customers, our employees and our communities," stated McQuade. "Under Bob's continued mentorship, I am deeply committed to furthering our mutual mission and leading Dollar Bank forward as we continue to grow and serve the people and businesses of southwestern Pennsylvania and northeast Ohio."
About Dollar Bank
Dollar Bank is the largest independent mutual bank in the nation with assets of more than $7.2 billion.* Today, Dollar Bank operates more than 65 locations throughout the Pittsburgh and Cleveland metropolitan areas and has over 1,300 employees. For 160 years, Dollar Bank has grown to become a large, full service, regional bank committed to providing the highest quality of banking services to individuals and businesses. Dollar Bank (www.dollarbank.com) is headquartered in Pittsburgh, Pennsylvania.
* Source: FDIC.gov, Mutual Institutions as of 6/30/15
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Contact Information:
CONTACT:
Joseph B. Smith
Senior Vice President
412-261-5037
jsmith835@dollarbank.com
