Sign Kentucky Banking Last Will And Testament Computer

Industry sign banking kentucky last will and testament computer

okay computer i guess you got that here yep okay yeah okay everyone in okay i get to see nine people so that's it why is george in the middle of my yes it is all right just a reminder to everybody we are recording this um we can selectively edit it out the uh the worst comments and put them right on our website so uh but you are being uh recorded so uh welcome everybody uh to another one of our meet the ceo hours this is a doubleheader we've got two people who we're going to be featuring this morning the outgoing or the past president of coastal heritage don gill and the new president ceo bob taravecchio and this is really a chance uh for us to uh say thank you to dawn for everything he has done he's been a face of the south shore for many years a good friend of the chamber past member of our board and executive committee uh who has had several farewell parties scheduled um for his retirement all of them postponed and canceled uh because of the the covet but we did want to get a chance uh for people to be able to to wish him well and say thank you and bob terravecchia who we would normally welcome as a new ceo but you've been around as a ceo for a while uh you know the so sure and um very familiar also having been on our board uh at one point uh so i i want to turn it over for a little while we'll mute everybody but uh don and bob and uh have a little conversation with you and i know a lot of people wanted to come on and wish you well so we'll we'll cut some of the interview section short uh in about uh 15 or 20 minutes so people can uh wish you well or uh uh pipe in but uh don let me let me start with you um and a big thank you um and we'll give a little while later we'll get into what you plan to do in retirement but uh you went through about three mergers to get to this point and you've been banking uh i think most of your life um but uh you're getting out at an interesting time good timing by the way you got out just in time absolutely it's all teravecchia's problem now you know this sound is his problem let him handle it but uh give us a little background on the banking career and uh the biography um and uh how long you've been down on the south shore and then uh where you're gonna go from there sure i've started i was born in a log cabin in kentucky and then um i started my career in 1976 at charlestown savings bank which i believe is now part of citizens um as an accounts payable clerk and did just about every job in the bank i ended up doing a short gig at fidelity during the 80s and then back into banking um but if just jumping quickly i was the ceo at first national bank of ipswich which i'm not sure but i think they're part of brookline back now um and then came to the south shore to the then south shore cooperative bank um 14 years ago um we no disrespect to south shore savings people on the line here but we were considered like the little baby brother of south shore savings and there was so much confusion when i first came down so we changed the name of the bank to s bank the letter s bank which caused more confusion with people wanting to know what the s stood for um and then back about a little over five years ago uh we got together uh with the then scituate federal savings bank um and merged and the big debate was what was the bank's name going to be um at that time most banks were trying to get away from the name of a city or town especially when you're trying to expand into other communities so citrate federal wasn't going to be considered um s bank was in consideration and we actually um dick rowe who was the ceo then of uh situated federal he and i sat in one of those rooms where it's kind of like the police room where you have the the the window you sit behind the window when they brought in three different groups of people um and threw out a whole bunch of names one of the name was coastal bank and then one of the names was heritage bank and one woman in the first group said well why not put coastal heritage together and i remember dick and i immediately turned and looked at each other and went wow so the next two groups they threw out the name coastal heritage and everybody in the group in those respective groups all said that they loved it and that's how the name came into existence um and i when we put our marketing teams together they went out and did a really great job with the logos and the color schemes and stuff like that so that was how coastal heritage came into existence and and just for the people who are not bankers on this side um the cost for um regulatory costs and the i.t costs and bob we'll talk more about that in a minute um it just have grown dramatically it used to be you know your compensation costs were number one and then god knows it might be facilities or whatever but regulatory costs go through the roof so smaller banks like you know then um south shore cooperative braintree coupe um you know weymouth bank just we couldn't handle all of those costs so bob and i got together um and we we sat around and just said you know this kind of makes sense to give you a frame of reference um i've used this line a million times in the banking industry from a regulatory perspective a billion to five billion is small five to 20 billion is medium and over 20 billion is large so after two mergers the bank coastal heritage bank is about 890 million so we're not yet too small so that gives you a frame of reference on the cost that we have to hang in there so really that was you know four community banks s bank scituate federal weymouth bank an equitable bank that got together you know four 200 million dollar banks if you want to put it that way you get to this size and really it was everybody had the same philosophy you know as as i can see while on here you know the same routine we're all community banks everybody cares about everybody in the community we're the ones that you know put into the monies into the little leagues and the girl scouts and things of that nature and we all hit it off so well that was that's what made this all work our mergers couldn't have gone better um the same philosophies from the board of directors to the ceos to the staff it's just been it's been a great run and i couldn't be happier than turning this over to bob so turn it back to bob now how's that that's great bob what possible challenges are you taking on as the new president anything going on um no peter it's not very placid yes smooth sailing good morning everybody first of all and uh dawn thanks for uh thanks for coming out of retirement so early to to join us we appreciate it and i do feel badly you know don couldn't have retired at a worse time um the last three months of his career was dedicated he was working constantly to make sure that we were up and running with the covert 19 pandemic and uh we were actually very fortunate that we had each other to work with uh on this and and i'd like to publicly say that don has been a tremendous partner and he's just a real champion of of the community banking industry and uh i would all often say to him because we worked really closely the last two years and i'd say dawn you could have uh why do you want to put up with a merger the last two years of your career because there as well as it's gone and i can attest that it's gone fabulously uh there's a lot of work to it and and there's a lot of uh nuance that goes into putting these things together and um he would just say i wanted to build a lasting legacy and you know i think that that's a great testament um you know peter from a standpoint of what we're going up against now is just trying to figure out what as we talk about what the new normal is and uh trying to figure out whether or not the changes in customer behavior that has been the case over the last three months is going to be something permanent or whether it's going to be subside as we get back into more face-to-face uh banking um it's going to be difficult to say whether or not what the lasting legacy of covid19 is going to be on not just banking but all businesses in the future and i think we're all trying to figure that out right now um as as we move forward bob you you keep a a somewhat low profile uh you got young kids and you're busy but i don't think a lot of people know your background you're also an attorney i don't know how much you've practiced law and how much you continue to do it but give people some idea of your background okay sure um well i i have an accounting background and i worked in public accounting that's where i cut my teeth and interestingly enough i came to what was then weymouth cooperative bank as a controller back in 1991 and i went to law school at night um i went to new england school law at night and graduated in 1995 which is hard to believe it's my 25th anniversary um but it is and continued to work in in the community banking industry at weymouth bank where we changed the name and and became the treasurer and cfo and i simultaneously built up as you indicated a law practice and i concentrated a lot on taxes and trusts and estate planning um and at one point um don baltucci who was my predecessor back uh in 2001 um gave me a proposition and said you know do you want to take over as president because he wanted to retire and um at that point i said well it was kind of dealing with whether i wanted to be an attorney when i grew up or i wanted to be a banker and decided that hey if i'll try this banking thing out and if it doesn't work out i'll just go back to practice and law and it's hard to believe that you know here i am 29 years into my career in banking and uh yeah it's a job i've grown to love um you know community banking i never intended to stay when i came that i see paul petchey on the screen and paul knows because i was worked at a public accounting firm they used audit what was then braintree cooperative bank and um but it was a great background for me um and you know i think the the legal background that i do have augments my skills here um that i can read through documents and stuff so it's been very a very uh good background to have but uh as i indicated peter i've grown to really love community banking and and as dawn is and still is who are very passionate about what we do um i find that the local community banks are an underutilized and under-appreciated resource in the community and and i i really one of the things that i want to do in this next phase of my career is to go out and spread the word that community banks are the place to go to we are not controlled or operated by anybody out of state or out of the country we're controlled by people that live in work in worship in the communities that we live in and having that local presence we have our finger our hands on the economy and i think that we're closer to the problems and challenges that you all have in your businesses because we are a small business so um that's that's what i'm gonna do and i know dawn did that he was the outgoing chair of the massachusetts bankers association this past year and one of the things that he's done over the last several years of his career was to promote all the good works and deeds that we do as a community bank so your background's interesting an accounting background went to law school and then jumped into an industry that is fail safe you remind me of ken curry college who's on the line with that back he's got the accounting background the legal background um remind me are you a curry grad or uh did you use curry for the capstone project we used curry for the capstone that was was then weymouth uh bank and they did a tremendous job and i met so many friends over there as you say peter when i grow up i want to be ken quigley peter from a a humorous point um bob and i didn't know this but a couple years ago we were at a chamber event um and it was one of the chamber um breakfasts i believe and both bob and i were speaking i remember correctly eric was setting everything up and uh i spoke first and mentioned that i was a graduate of lowell technological institute which is now umass lowell um and bob came walking by me because he was the next speaker and he came up and he said my gun it didn't realize it we both went to the same school granted decades apart but we went to the same school so and that was from a chamber event and that led to the merger uh well pretty close to it yeah yeah we hated each other before that [Laughter] so bob mentioned the community banking aspect i always enjoyed stopping into the headquarters dawn when particularly at winter if there was a little snow and you always had the coffee pot out in the lobby you'd come out um and you would just say you know where the savings and loans uh it's a wonderful life one of my favorite and you didn't enact the part of mr potter at all um always welcoming but uh tell me about community banking is it uh is it going to survive uh how is banking changed since you started back in the 70s and if you were starting the career over would you get into banking or would you you follow that can quigly rooting go into higher ed where nothing changes well i'm not sure that i you know whether i would or wouldn't go into banking i mean um my brother was a banker um back then there was a bank called suffolk franklin savings that you know has emerged along the way but um i think you know whether it's you know my my son is a theology teacher at severian my daughter-in-law is uh in the administration at merrimack college so we sit and we talk about this regularly about uh community involvement i know i look at george and even though we bust each other's chops i watch what george does in the community i watch you know community banking is just one part of the community um you know we have the luxury of being able to help um george caldwell give me a good example george called us you know a year ago and said hey we need we need funds for lighting you know for the christmas things no problem what do you need you know that kind of routine um i think community banking where to answer your question we're the community's uh corner store that's going away unfortunately um as much as as much as i love community banking to to be able to compete with the giants i mean jpmorgan chase is coming in i don't envy you know chris you know at rockland or or eastern bank you know having to put up and and fight to do what they need to do to stay up with those giants who are coming in um community banking is a wonderful thing i love it you're right i'm actually getting out at the right time because you know the challenges that bob is going to have to go through for the next five to ten years before he ultimately retires is going to be so different from you know what i've gone through you know technology i remember the first ibm computer coming in everybody standing around and pushing a button going wonder what the hell this is going to happen so technology is is is so fast the fact that we're doing what we're doing right now you know um i'm so far behind whenever i have a problem with my phone and just hand it to my 15 year old granddaughter and say bella what do i do and she fix it and she goes here you go grandpa you know um but it's it's just changing so so fast um and you get to a point where you're trying to keep up with it it's time to hand it off to the next generation and that's what i think we've done with bob and both of us were blessed with wonderful staffs that have gelled together perfectly um the technology that we're using now wasn't even the thought of never mind any existence wasn't even thought of when i was starting out so um you know again defer to bob on this one some of the things that you know not just us as bankers but you know all the bankers are going through well well you had planned this transition several years ago uh which was um troublesome for the chamber because we had hoped that you'd step up to be a chairman yeah let us on let us know that you would be exiting the industry in a little while we have two past chairmen with us uh today ken quigley from curry call and george thoma and i know you and george uh at least george says you two are very close and he's always dropping your name but i never meant you know him in your conversations which i always found interesting the the picture o your kiss you know on people magazine cover it's uh you know it's amazing but how come you never fessed up that you actually knew george and they're friendly with him for what he just saw happen there you go why would i now actually the timing unfortunately for me i you know i love the chamber i think the chamber is a community group and just like the community bankers are just like george's businesses and all of the business that around here unfortunately um the mass bankers um beat you to the punch um and literally my my last day as chairman of mass bankers is today um and to go through the chaos and all of the regulations that we're talking about earlier going to washington to fend off some of the things that you know they're trying to do to you know one other thing if i have one contention it's when you hear on the news oh the banks the banks well you know they're talking about citicorp and jp morgan and wells fargo they're not talking about all of the community banks that are so involved in every community we've got about 130 banks um in the state and i have to tell you i've met every single one of the ceos and every one of them is so concerned about their customers about their staff about the communities you couldn't ask for a better state to have bankers in this this really isn't the giant banks so when you hear oh the banks have done this or the banks have done that it's frustrating for me to to to listen to that because i know that the depth and the the efforts made by all of these bankers and not just the ceos you know and you know paul probably can attest to this too from braintree's perspective you know what we did to help the communities out and we'll continue to do as long as we're in existence but again we're fighting you know the big fish upstream i believe don i think peter said he just sent the message saying he got cut off so i don't know if he got sick of what we were talking talking about and left or he just really got cut off so well i did see george get up and walk over and push a button so nice job eric are you quarter are you the backup quarterback here eric uh well i i i sure i i can i'll go come on stephen get the ball yeah no well i guess to um i would say to you um bob i know both bob and dawn um from uh the chamber perspective that i have and that's that i do i work in community development which is the affiliations that we have and i know that uh both bob and don have uh stepped up and have been with the weymouth chamber of commerce since its formation and have been a tremendous uh help in creating that chamber of commerce and the involvement that they have taken with the community of weymouth and we have today uh dave robinson who is the past chair of the weymouth chamber and dave has dave is with us as well as dennis cohen and dennis is the current chair uh um of the chamber so um dave i guess i'll go to you first just to kind of reminisce a little bit about the early days and how uh william excuse me weymouth bank and then coastal heritage has been so uh helpful to the formation of the weymouth chamber oh well uh they were they were critical i mean dawn i remember my first meeting where i was the chair which i was foolishly not i didn't step back fast enough when they were looking for a new chairperson of the weymouth chamber and uh don came up to me immediately and introduced himself and took me out to breakfast and he's been a critical role took a critical role in helping me develop the chamber and being and and bringing it to where it was so that i could hand it off to dennis and dennis has done a great job from there um and bob bob has been a long supporter a power partner initially under weymouth bank and has been a continual support and friend to the chamber and to me and has taken me out several practices as well so i you know when i heard that they were merging i'm like wow these are two people that i've spent so much time with that i thought would be great together and then they end up becoming merging so uh you know i i i'm very great i have a lot of gratitude to both of them because the weymouth chamber would not be where it is without either of them and david david you were just concerned you're going to lose one breakfast oh no i do i do miss the breakfast dawn so we have to we'll have to get together when we're allowed to because i'd like to take you out and see how things are going in retirement but uh but congratulations don in your retirement and thank you well deserved and thank you for all your efforts uh on behalf of the layman chamber my pleasure david i do remember you know when um when eric first approached us and started up the weymouth chamber and uh peter you know it was a great initiative they've done a tremendous job under your leadership um and also obviously under dennis dennis has taken the baton and done a remarkable job because there's always local issues that happen that needs need some support specifically in we're talking weymouth here in weymouth and i do know that jimmy graziano was on the board and then gina kelly has been on that and she's done a tremendous job and i think having that local presence um you know that that's one of the things as dawn indicated that the community banks do uh in addition to to making donations we do dedicate a lot of our people to these local organizations that uh really are very passionate about what goes on in their community um you know i know mark d'onofrio's on the line here and he's the president of the scituate chamber so again another affiliated chamber um with the seltzer chamber and this is really the grass roots we represent our business community and we represent uh the towns that we serve and we do so with uh with a lot of pride and a lot of local knowledge and i think that gets things done yeah and i've certainly seen that uh bob with the with the local affiliations and that on our boards of uh directors it's you know a lot of the community banks and those local businesses are the ones who are involved uh deeply with the um with the local chambers and and the big multinationals um i find that they are they're not quite as involved with the community so certainly on the community level what uh what community banking has done has been absolutely tremendous so we certainly appreciate it and i think peter is back i am sorry had a little uh family emergency my daughter kept calling in and that disrupted the call so sorry for that uh she's up in boston with a three-year-old grandson and left her apartment key in plymouth fortunately i've got one but i'm not up there dawn you've got some some grandkids i think um hanging around you spending more time with them i i am actually i have three i have beller is 15 going on 30. um nate is 12 and lexi is 11. and on tuesday nights we go up um janice and i go up to burlington which is where they live um my daughter-in-law like i said she's i think she's the dean of students at merrimack um she uh she's in a room clustered doing one of these zoom meetings with a hundred of her closest employees um they finally come out for dinner and um so we social distance but it's great to see them i mean one of the things that bob mentioned earlier you know retiring you know this past month and then going into basically quarantine uh there's just not too much to do so it's great to to be able to go up and see them and spend some time with them so uh beyond the grandchildren which will take a lot of time um and a lot of fun uh what are the other plans for retirement well one of the things that that i hope to do is is to travel i mean i love my job um but much like mr taravecchia you know we we both spent a gazillion hours in there there's you know when whenever we hired somebody especially in the officer ranks you know one of the things that we explained to them was this isn't a nine to five job you know uh and especially if you're a smaller community bank you need to fight twice as hard to keep up with the larger institutions and you know bob mentioned you know mark is a good example you know he's usually the last one out of the bank you know when he may not think we don't notice but we do notice that um and the efforts by all of the staff so one of the things i think has been important to like i said myself bob paul chris etc is you have to lead by example and so you know we're one of the first ones in we're one of the last ones out um you know as you know just using the chamber the the number of events granted not recently but the number of events that were going on you know we were always at them because we recognized that we were the face of the community and that we needed to be out there so you know my travel um wishes let's say you know just couldn't happen and now of course i'm looking forward you know i had plans to go to greece i had a years ago in another life i worked for a couple of years with the national bank of greece myself and the ceo we're the only two irish guys in there um but we made some good friends and i had uh one of them who retired uh his 70th birthday was this year and i promised him that uh you know janice and i are going to come out to greece to to celebrate his birthday with him needless to say that's not happening and as you mentioned earlier and some of the people on the phone know this i i have an affinity for wine um so where our other trip was uh to go out to the west coast to start in washington and then spent basically about a month just going down the coast to washington oregon california etc and just stopping and enjoying you know all of the vineyards there so as you all heard this morning they've shut down california again so needless to say that's not happening so um i'm spending a lot of time in hanover admiring the the empty wine cases that should be filled by now so so is there a novel in you paul petching uh when he retired from banking he left our bank first novel and we're going to arrange for both bob and dawn to get an autographed copy of the patchy chronicles uh the first uh novel but is there a novel in you dawn no no not at all you know i'll i'll drink to his chronicles but that's that's about it you've got a lot to talk about don i'm sure i know yeah yeah i could get a lot of people in trouble if i did so we'll leave that alone so paul you've known don a long time if he were going to write a novel what would it be if he were going to write a novel what novel what novel would we want to get out of either teravecchia well i'll tell you i i um i'm very very pleased with uh the foresight of the people in weymouth um uh to to bring to transplant two saplings from the north shore and put them in the fur in the fertile soil of the south shore and they both blossomed into i i think the the best uh uh bank ceos around and so uh i'm really really uh i think it would just be um a great story on how how you got north shore people to actually assimilate into the subjuna you're successful as both of them have been really yeah well peter i am begging you do not ask george that question [Laughter] well for one thing we're going to cancel petty's book order this is the south shore chamber and we don't need to plug north shore so okay you get to know your audience paul no it's what it's what the south shore did okay we we beat we beat the north shore out of them i'm one third through paul's book and i can uh it's an amazing book and paul to just give you a shout out it's uh the amount of uh his history that you've interwoven with your characters is amazing um and uh it's on my it's first on my summer reading list and um kudos to you paul very impressive thank you bobby so do you talk about wineries in italy in this book there's a lot of them well yeah they had wineries back then they weren't as top-notch as they are today but they they were good so i'm gonna ask our two uh past chairs to the same question but of each i'm gonna ask ken to tell us what bob taravecki is book of a lifetime should be about and i'm going to start with george to tell us what he thinks dawn's life book should be about george you're on mute keep it clean george it's recorded you're on you but stay on you george well i had a whole script written and then you told me this thing was going to be uh taped so that's actually what i just threw in there so i can't really say a whole lot and i didn't realize i was mute so you didn't hear all the stuff i said uh but i mean i've known bob and dawn a long time so dawn's book i think he kind of said the same thing over and over again community people that kind of stuff so i don't want to make him cry but i mean he's just he's just a really nice person and i think when he gets out of bed in the morning i think he really cares about making a difference he mentioned his legacy so i'm trying to keep this serious which is going to be difficult but he does have a legacy and i think that a lot of people use him as a role model in the community in banking in the chamber uh and i i value his friendship a great deal well i don't really know you as well i look forward to someday being able to spend some time together but i really appreciate the time we spent together and thank you and you made the chamber meetings almost tolerable is that the right word people who don't know george don't realize that after being that generous i am now going to get emails for the rest of the day with 50 suggested titles from george about what level uh i refrained from saying i didn't know you're a lawyer so banker and lawyer jokes really you set me up right i thought they had me muted on purpose i thought they talked to mrs toma so again quickly let me put you on the spot bob is not a uh a curry alum but he did do one of your capstone projects and has that similar background of accounting and law um what would his novel be or his biography oh you're a mute you're a mute ken can we get him unmuted wait a second all right no now we've got you muted here we go i need it there you go it wasn't worth the wait i'm sure bob loves people and consequently he loves helping people and he loves seeing other people succeed and that's what i think of when i think of bob terravecchia i've seen it on our campus right here and i've seen it up and down the south shore quietly with a smile helping other people dawn i just know to respect from a distance across the chamber room and i wish you nothing but the best so when we finally got you on the first words out of your mouth was uh where it wasn't worth the wait i thought that was going to be your suggested title for bob's book now the president of the bank was it worth the wait where were you taking the bank well i mean you know peter i mean post you know post covid uh you know we're again as we said a few times previously we're committed to the communities that we serve um i think technology and customer behaviors are really going to dictate where this industry goes i i think there's a lot of uncertainties um as to how rapidly i do think the covert 19 i just sent an email to some of my staff this morning about some comments made in a publication i recently read uh of some of another bank and their thoughts on it and i'm going to just be challenging the department leaders of this bank to do two things one have a vision to where uh what we need to do to attract and retain customers and attract and retain good employees um i'm firmly i firmly believe that we need to uh incent people younger people to come into this industry that have talents that are different than just banking that and and to into have continuity and turn this over just as dawn turned over the baton to me and our staff now and and most of us are you know not being ages on about 10 years difference i think that you know it's incumbent upon us to identify folks in their 30s and 40s that are committed to this industry and to develop them to provide them with the opportunity the tools to go out into the future and make this company what it needs to be um so that really peter is what we got to do it's it's continually evolving to attract and retain customers and and our future employees and leaders in this industry good let me ask you about comparisons in the north shore and sell sources paul raised this um yeah you both have those uh north shore routes how would you two compare north shore and south s ore and uh how the social has changed or how it's changing now you want to tackle that one don i'll i'll start and then hand it over we seem to be doing this along well um you know i grew up in medford uh and anybody who knows the north shore it's actually mepha and um so to to that end to me the south shore before i came here was the place that you drove through on the way to the cape um i don't think i stopped and my brother a long long long time ago lived in hanover so i had a little flavor for it um but when i came down here and and people were gracious george being one of them you know to take me around to different places peter you as well on from the chamber side and i began to to realize what wonderful communities were here whether it was braintree or hanover or pembroke you know et cetera going to scituate and and seeing you know again you're land bound in in medford uh so to go to scituate and cohasset and see the beautiful shores that were there it was it was spectacular so i quickly fell in love um you know with down here i live in hanover been here now for 10 years um i moved um you know and spent one year uh and an apartment uh up at granite lakes just so that i could spend the time driving around and looking for a community you know and a place to move in i find that and bob and i have actually talked about this it's a whole different ball game and i say this not because everybody here is probably from the south shore it really is um much more friendly i think it's much more family oriented you know again medford's a very large city um you're five miles outside of boston similarly you know malden i you know i live you know i went to school in arlington um it really is it's a different it's a a calmer and i guess that would be a good word a calmer side of boston than the north shore i love the north shore again that's where my roots are i grew up but it really really is a whole different ball game wow absolutely dawn um i grew up on the mean streets of wakefield mass um which is you know more or less as far north of the city as weymouth himself and i worked when i worked at weymouth i commuted for nine years my wife was working at the time in salem new hampshire and i was working in weymouth so i lived in stoneham at the time and we used to laugh you know she'd go 20 miles north i'd go 20 miles south um when i became president in 2001 of of what was then weymouth bank i made the decision it was a tough decision actually my wife you can imagine this my my wife at that time was pregnant eight months pregnant with our fourth child um she had grown up obviously she had grown up in wakefield as well and we basically moved to weymouth which in her mind was we may as well just have moved to panama because um it was uh really far away her whole support system was taken away and i would say for the first three years she pretty much didn't talk to me because i moved into weymouth i've been here 19 years now i've worked in weymouth for 29 but i've lived in weymouth uh 19 years now and as dawn said you know the difference is beyond um some of the obvious ones you know north shore people would say that you know that's roast beef and salt shore is is bar pizza and i discovered that there's a lot heck of a lot of good bar pizza in the south shore but beyond the superficial chain differences i would say i agree with dawn sultry was a little bit more spread out i think the north shore is a little more edgy you go into the towns you know our families are from mauldin or somerville in revere you know those places are certainly more condensed um south shore when we drove around looking for places when we moved here we were surprised at just the lack of density um and i know peter that fits into a lot of some of the challenges that you've championed on the cell show which is transportation and somehow how do we attract and reta how do we attract businesses to come on the south shore because as dawn said it's a great place to bring up a family i mean we've got five kids and my kids have grown up you know now uh because we've spent so much time here that self they assault your kids uh as much as it kills my wife you know we're not sure people but my kids are south shore and they'll probably end up putting roots down here but one of the things that i noticed because a couple of my kids are in tech and they're gravitating more toward the north shore again because of tech jobs and and peter i know that you've been a huge champion of trying to attract those types of businesses to say hey listen the south shore is a great place to live bring your business down here um and you can live and work and cut down on your commute rather than have every small business have to go up and be up in cambridge or or watertown or those towns so there's there's certainly differences uh but uh you know there's a great place bob i'm going to throw one out to you and and let me know and and i'll say the same thing to to uh to paul um i can give you a great business comparison um i worked in banking on the north shore for a long time and then came down here the we have a group of probably 15 to 18 ceos um that we would get together monthly either you know for dinner or or events just just to get together and to throw things around not sitting there you know combining rates believe me um and i we tried to do the same thing on the north shore i think bob's comment about edgy is appropriate about two or three meetings in ten years ago to the to the south shore ceo bankers group you know i made this comment to them i said we couldn't do this on the north shore um the there's a protectionism type of mentality up there that you know if you you as a banker were telling another banker what you were doing you know they might steal it from you um i know that sounds silly but that's in fact the mentality that was up here i was so shocked at how open and caring every one of the the south shore community bank ceos were about sharing and what they were doing in their community to take care of their staff take care of their customers it really was night and day so you know i unfortunately you folks don't have that comparison i have the luxury of having seen that i'm gonna tell you you've got a bunch of great business leaders down here that are willing to share with others and peter i think you foster that through the chamber um to this to the extent that they their businesses get together i mean george and i bust each other's chops all the time but the fact of the matter is i know how much he cares i know what he does for the community you know what he does for the community um and i just it's an amazing difference it's that family orientation that that i find so different on the south shore than the north shore you know that that's so nicely said and i think all of us involved in the community knew that i'm really seeing so much more of it come out during this shutdown um you know there's very little you can say that's good about a pandemic and an economic shutdown but watching the way people have come together to support one another everyone's sacrificing to some degree in some cases sacrificing a lot but still keeping their heads up looking forward um how do you think the south shore and businesses are going to get through this what do you see ahead um dawn you good good go ahead um well you know peter i think a lot of it is is going to come down to you know we've had to give our share of loan deferrals um um with regards to residential customers and commercial customers i think one of the things that uh differentiates us from larger companies is that we really know our customers very much um and we're you know we were talking earlier don was talking about accessibility i mean my customers have my cell phone number i've talked to customers on sundays texts whatever um i i pride myself on being accessible to to our customers um and i think that that proved spades in the uh ppp um arena where people were scrambling around trying to get uh assurance that they would get funding you know where it goes i don't know i'm not smart enough to know where it's going to go i think a lot of it is contingent upon whether or not we experience perhaps what's going on in some other states where they've opened and then the numbers spiked to the extent when the health officials were concerned and kind of went back to an earlier phase some companies even we had a great economy you always have companies that even in good economies are marginal and i think that there'll be some culling out of those of those marginal companies uh throughout all banks and i think we're we're all trying to figure out what the uh what the attrition rate is going to be on some of the uh customers that all community banks had that were maybe on the margin that aren't going to make it i think it's too early to tell most of the deferrals that banks have done if it be that in either three or six months in duration we're just finishing up the three months you know if somebody deferred their payment for april may and june if the bank did uh july one if if it's a residential owned customer july 1 tomorrow is when their payments do um you know it'll be i think we really will see the effects of the credit impact on this on on banks in general uh in the third quarter when uh two things will happen one we'll see whether or not they've uh had the have the resources or their businesses have at least come back sufficiently to uh be able to service their debt and and pay their bills uh and the second thing is do we have a second wave of of covet 19 in the fall and and does the governor decide that we need to go back to more restrictive rules of engagement and i i don't know if some companies they may have been able to handle the first wave but i think a second or third wave of this um this is causing challenges i see gina and paul uh grand prairie and gina glickman from massasoit i mean this in ken with higher education i think this this has impacts that you you know some of our companies have done really well for surprisingly their business has picked up because of the pandemic i mean if you were in the plexiglas business boy you can't get enough plexiglass made right so you're doing great if you're a restaurant or you're a hotel not so much um so i think there's gonna be pockets where some places uh companies are gonna really benefit from this but you know overall it's kind of hard to go from three percent unemployment to 15 unemployment um and think that that's not going to have a permanent impact at some capacity so i again pete a long-winded way of saying i i absolutely don't know what's going to happen guardedly optimistic that i think the government has done a great job and i think that the healthcare system in massachusetts is one of the most resilient in the world and i think the remedies that they've come up with to try to keep this pandemic uh at us at a at a controlled pace has done well we'll see what happens in the fall when people start going back to school and larger groups start gathering and whether or not there's a second wave well said good so i i want to open up the last few minutes to people if they have anything to ask or say i do want to call out a couple people that i see on the screen mark dinafrio of coastal heritage um who you both know very well sits on our board so uh mark since you've been a member of the board and on the leadership now want to just raise your hand so people know who you are and dr great of harbor medical associates is going to be our guest next tuesday uh talking a little bit about the health care issue and where harbor medical is and harbor medical is part of brigham and women's healthcare but uh peter just want to raise your hand so we see on the screen there you go thank you so we'll be joined by you next week um uh for for one of these but let me open it up uh we've got about uh five minutes left and uh if we can unmute people if anyone has anything to say go ahead go ahead dennis let me see if we can mute you thanks peter yeah i just wanted to agree exactly with what dave robinson said from the weymouth chamber of commerce's perspective we simply wouldn't exist without bob and dawn supporting their team at coastal heritage so thank you for everything that you guys do and really for serving as an inspiration to me for what community service looks like so thank you and good luck don don't drink too much wine all right i'll try not to go ahead paul john i just wan i want to congratulate you again on a great career and uh wish you all the best in retirement it is going to be different uh but uh you know like you i i've seen my wine cellar depleted and so congratulations to you and congratulations bobby to you too um you've got thank god i i think john will probably agree thank god we're we're out of it now and absolutely it's all on you now congratulations to both of you thank you paul you know peter to your point earlier yes i did get out at the right time i was listening to bob talk about all the chaos that he's going to have to do you know going forward one with the ppp loans but you know besides you know i think mark and his staff there was an article in the boston globe a couple of weeks ago about how the kids were up here at the bank and at many other banks too you know at two and three in the morning trying to get those loans through to help all of the customers whether it was the mad hatter or wherever um there was a ton of people that were in in needs of these loans to keep in existence but then similarly you had that the the residential side where now all of the consumers who were put on furloughs or were laid off or whatever who had to come to the bank and there trust me there were hundreds of them that came and put you know the the pressure on the residential division you know to give them the the the three-month probationary period or six months whatever it now is because it's changed so many times um so there's been a tremendous amount of work going on at all of the community banks to take care of their customers and i i don't think they get a chance to to realize you know you know we probably did and and macron can attest to this over 40 million dollars in loans in a very short period of time that's a year's worth of loans and the banking industry alone they put in in 18 days what they would put on in two years so and all of this was just to help their customers so you know you asked me earlier on you know and david made that comment you know um this is what community banking's about it's about you know that's what i loved about my career was you know there were times that a lot of customers weren't happy with me because there were things that they wanted that i couldn't do for them but i think for the most part we made every concerted effort to try and take care of our customers i and i see that in bob i see that in his emotions when he talks about his customers the fact that you know they've got his cell phone number and and peter you know you know my office was on the first floor by the branch so i wanted any customer who wanted to come in and have a conversation or yell at me or whatever um you know they had the access to it and that's really what it's all about so thank you bob terravecchia thank you for everything uh the bank has done for the community and the chamber and we know you're going to stay close to the chamber and be involved under your new leadership and dawn again thank you for everything you've done for me personally and uh for the chamber and what you built up with the bank and uh when we get out of this and dr grape can tell us next tuesday when we can get out of this and have your retirement party uh but i look forward to uh personally and uh share a glass of wine thank you peter i appreciate that and to all of you i wish you the very best thank you thanks i love you congratulations good luck thank you thank you thank you and we'll see you guys hey everybody thanks bob dog i don't have to see you again for another six months i don't need a i don't need to get a haircut for another three months