Matthew Lauro, SVP, Commercial Lending at MountainOne Bank, was recently interviewed in a ‘Right Here in Mass’ podcast by Ashley Mason, President & Founder of the Massachusetts Business Network. In the podcast, Lauro discusses a variety of topics, including his current role at MountainOne, the benefits of working for (and with) a local bank, a career in banking, and MountainOne’s commercial banking culture.
When it comes to the “why” behind choosing MountainOne, Lauro explains in the podcast that as a full-service financial institution – offering banking, wealth management, and insurance – we have the right personnel and structure in place to provide top-notch service to our clientele. In addition, MountainOne has a clear business model that allows us to further streamline the commercial banking relationship.
While Lauro thinks Massachusetts is “overbanked, yet underserviced;” he points out that many business owners still prefer a personal, 1:1 relationship with their commercial banker. “Clients want to know they are speaking to someone local, not someone from across the country at one of the larger banks. It’s in our DNA to build relationships with our clientele.”
And while many local institutions may get discredited for not having the experience larger banks have; Lauro proudly remarks that MountainOne has recently made significant investments in its technology platforms and personnel, including its new digital banking experience (www.mountainone.com/upgrade).
Lauro takes great pride in working with his clientele, especially those who are expanding, and ultimately driving the small market economies. “While they may not get the publicity in the Wall Street journal, they do make a difference in the local economy when they hire new employees, buy office space, etc.”
While Lauro’s career started more on the corporate and investment side of banking, the experience helped him to better understand how the larger organizations operated. He knew MountainOne was the right fit for him when he joined because of its “corporate culture” as a commercial banking institution, from the top down (MountainOne President & CEO Bob Fraser has a background in commercial banking.)
For those considering a career in commercial banking, Lauro advises that “it’s a great career for those with intellectual curiosity,” as you get to bank a wide range of industries. He notes that a career in commercial banking also involves building relationships with other influential professionals, which we refer to as COIs.
Lauro’s advice to business owners weathering a tough economy is to understand their business profit margins, productivity, and their business operations; to not grow too fast, and to focus on efficiency.
Lastly, as a mutual institution with no shareholders, Lauro points out how it is in our DNA to “give back,” and donate to local charitable causes through our community dividend program. Because for us, it’s the right thing to do. It’s our way of supporting our local economies, and how we will continue to do so.
Listen to the podcast here: https://massachusettsbusinessnetwork.com/podcast/episode-58-matt-lauro/
About Matthew Lauro
Matthew Lauro is a Senior Vice President, Commercial Lending at MountainOne Bank. With more than 10 years of credit analysis, portfolio management, new business development, and client management experience, he is responsible for managing existing portfolio risk and loan growth.
Serving as a Board Member for Berkshire Education and Correction in Pittsfield, MA, Pittsfield Affordable Housing Trust, Grit and Gratitude Wrestling Academy and a former National Council Member of the Avon Old Farms School for Boys in Avon, CT, Lauro is an active member of the Western Mass community.
Lauro received his Bachelor of Science in Business Management from the Lally School of Business Management at Rensselaer Polytechnic Institute, Troy, NY.
About MountainOne Bank
MountainOne is a mutual holding company headquartered in North Adams, MA. Founded in 1848, MountainOne Bank provides a complete array of personal and business banking and electronic services. MountainOne Bank is a Member FDIC, Member DIF, Equal Housing Lender. Products and services are offered at offices in the Berkshires (Pittsfield, North Adams, Williamstown) and on Boston’s South Shore (Quincy, Rockland, Scituate).