OFFICIAL PUBLICATION OF THE PENNSYLVANIA ASSOCIATION OF COMMUNITY BANKERS

Pub. 2 2020 | Issue 11

hometown-champions

Hometown Champions: Iron Workers Bank

By The Pennsylvania Association of Community Bankers

IWB

Communities across Pennsylvania are growing and thriving because their community banks care. The service and commitment demonstrated by community bank employees keeps customers faithful and their sincerity keeps others hopeful. It is because of these employees that communities across the Commonwealth are thriving and becoming better places to live and work.

When it comes to community banking in Pennsylvania, the uniqueness, talents and attributes of the 14,000 individual community bank employees combine to make the entire industry greater than the sum of its parts.

As we travel across Pennsylvania, we meet community bank employees from many different backgrounds. Some are new to the industry, while others have worked their entire careers in it. No matter how long these employees have been involved in banking, they all share a common thread — a love for their community. They truly are the ones responsible for bettering their hometowns.

As part of an ongoing series, each issue we will be featuring interviews with these community bank employees, these “Hometown Champions.” Through these interviews, we hope to gain some insight into what makes the community banking industry great in Pennsylvania.

This month we chat with Hometown Champions from Iron Workers Bank, located in Delaware County.

Iron Workers Bank understands the importance of loyalty in maintaining local business and local clients. Founded in 1879 in Chester, PA, Iron Workers Bank was the original peoples’ bank. Named after the local artisans’ that built the ironclad ships in the local shipyard, the name is derived from the people it served in the early days, where principles of frugality, hard work, and dedication were essential community values.

Iron Workers Bank still holds these values today. They continue to strive to compete with banks in their area, to provide its customers with the best rates, the best service and the best products in Delaware County. We are proud to introduce you to Iron Worker Bank’s Hometown Champions.

ELG-headshot

Eric Golden

Eric Golden
VP & CFO

PACB: How did you get into
community banking?

ERIC: I’ve had an interest in finance and economics since college, so banking was never that far of a stretch from where I started. After college I was in public accounting before banking, but early on I had the opportunity to work on the audits of several banking clients. A few years later, I switched over from the audit side of banking to working for a community bank when one of those clients decided they wanted to hire me as their controller. Sixteen years later I’m still working for a community bank.

PACB: What is the most rewarding aspect of working in community banking?

ERIC: The most rewarding part of working for a community bank is the connection to the people and communities we serve. At a community bank you have a chance to really make a difference in the lives of customers and to impact the future of the entire community. Every day I drive by businesses and schools that I know we’ve helped.

PACB: People always want a definition of “community bank.”
What’s yours?

ERIC: A community bank is a bank that is part of the community from top to bottom. In a large bank your branch people may know the community and the customers, but the board and the president can be as far away as another state. In a real community bank the president, senior management, and the board are part of the community too. We all know the community and the customers, and the bank’s mission is driven by that connection.

PACB: Tell us something about yourself that most people don’t know.

ERIC: I’m a certified scuba diver.

PACB: What is the fifth picture in your camera roll on your phone, and can you please share the story behind it?

ERIC: The fifth picture in my camera roll is of sunset over the bay at Assateague Beach, Virginia. We took a day trip to the beach there when seeing some family in the area. Since we cancelled some other trips this summer it was one of the few times this year that my kids could enjoy being someplace fun, and we always stay at the beach late enough for my wife and I to watch the sunset together.

tim

Tim D’Ignazio

Tim D’Ignazio
VP, Commercial Lending, Iron Workers Bank

PACB: How did you get into community banking?

TIM: It’s a little roundabout. Out of business school at Duke University, I was hired by The Irving Trust Company in NYC. I went through their training program and was assigned to their Empire State Building Mid-Town office, which served many businesses on Seventh Avenue in the Garment District of NYC. We also served small-and medium-sized family businesses of all kinds in the NYC five-borough region. I got a great deal of exposure and experience dealing with different businesses and personalities with various management and leadership styles. It was challenging and rewarding to learn how to best serve them from a cash management and credit facility standpoint. Following my NYC experiences, my wife and I moved back to PA to be closer to our families and I worked in commercial lending for Continental Bank in Philadelphia. Here again, Continental Bank had many smaller, local businesses and entrepreneurs as customers and I continued working with the individuals and management teams driving these businesses. I wanted to make a go at working in my family’s restaurant and banquet business and eventually joined it and worked there in several different capacities, from the banquet prep kitchen, to the pantry, to bartending to running the office, to management. I have learned that one tends to wear a lot of hats in small businesses. One day, a well-known acquaintance, John Whitig, President of Iron Workers Bank, approached me and asked me for some help in his commercial loan department, and that’s how I got to Iron Workers Bank 10 years ago. Iron Workers Bank is the quintessential community bank. I find it very rewarding and satisfying to develop long-term relationships with the local businesses and entrepreneurs of Delaware and Chester counties.

PACB: What is the most rewarding aspect of working in community banking?

TIM: Iron Workers Bank is well managed and has an excellent reputation in the community. From my experiences in NYC, at Continental Bank, and my family’s landmark restaurant and banquet business, I have the business skills and community awareness and presence to provide real value to a wide variety of local businesses. I genuinely enjoy meeting and getting to know the individuals I have the opportunity to serve, and I am always curious to learn how their businesses tick.

PACB: People always want a definition of “community bank.” What’s yours?

TIM: Iron Workers Bank was formed by the community of shipbuilders, steelworkers and tradesmen looking for someplace to bank and get a loan to buy a house in Chester, PA and Delaware County. For 140 years, Iron Workers Bank has kept that spirit alive by offering great products and service to everyone who calls and does business with us. We all live nearby and support the schools, churches, charitable organizations, and businesses in the geographic areas around our branch locations in Aston, Media, and Chadds Ford.

PACB: Tell us something about yourself that most people don’t know.

TIM: I am an avid naturalist, and I love to study birds, trees and explore different natural ecosystems.

PACB: What is the fifth picture in your camera roll on your phone, and can you please share the story behind it?

TIM: The picture is of two rescue dogs (Angus — puggle mix, Ula — Pit Bull mystery mix) we “rescued” from an uncertain fate. My wife and I have taken them in and cared for them in every way. They have greatly enriched our lives.

The Pennsylvania Association of Community Bankers

This story appears in Issue 11 2020 of the Hometown Banker Magazine.

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