Living Organism

Name:
Robert DeAlmeida

Job Title:
President and CEO of Hamilton Federal Bank

Profile:
I’ve been in the banking or financial services industry for most of my career. In 1990 I was hired as the CFO of Hamilton Federal Bank and I was named president in 2005. Since then, I have pushed for the bank’s transformation and expansion of services for small businesses, retailers, consumers, and homeowners across Greater Baltimore. Today, with nearly 100 years in business, Hamilton Federal Bank proudly operates five locations across the region, with more than 50 dedicated employees, and a deep dedication to the communities and the people we serve.

Hometown:
Baltimore, Md.

Favorite Pastimes:
Reading, playing golf 

Favorite Book:
I have three: two as a kid and one as an adult

• The Hobbit by J.R.R. Tolkien
• The Adventures of Huckleberry Finn by Mark Twain
• 7 Habits of Highly Effective People by Steven Covey

Education:
Bachelor’s degree in Accounting from Loyola College of Maryland; Master’s degree in Economics from the University of Baltimore.

First Job:
Gino’s Hamburger Restaurant Employee. I flipped hamburgers, fried the Kentucky Chicken, and worked the cash register. Actually any job that was assigned to me I did with a smile. (It beat cutting lawns for the neighbors.) It was fun working with other high school kids. We laughed a lot but had to be responsible at the same time.

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Since you became the president of Hamilton Federal Bank, the bank has added a fifth branch and grown to 50 employees, as well as added business banking. What is the most demanding aspect of managing this growth?

Hamilton Federal Bank had a long history of being a mortgage lender and helping families save through conservative investments. Most employees had been with the bank for more than 20 years so change was met with opposition. The employees’ unwillingness to change slowly dissipated once they saw the positive results of the necessary improvements. The book Good to Great by Jim Collins suggests the importance of getting the right people on the bus and in the right seat. It was apparent to me that I would need to reorganize some of my senior staff in order to maximize each employee’s strengths and potential along with hiring talented individuals to help us continue our success. The most demanding aspects of managing growth are: communicating my vision, keeping the employees focused on our goals, and convincing the board and employees to embrace change.

If you had to boil it down to one thing, what is the biggest reason Hamilton Federal Bank has thrived among a land of failing banks?

We were able to thrive during this period because we shared a team vision, along with the willingness to take advantage of opportunities. Planning and getting everyone engaged, however, was what really pushed us forward. An outside consultant was brought in to help the executive team plan a strategy and brainstorm what resources were needed to accomplish the bank’s goals. A profit plan was prepared along with the timelines for completing necessary tasks needed for success. Budget projections were used as a metric to measure our progress with actual results. Employees were informed of the new plan by newsletters and team meetings. Training was provided as an ongoing measure to ensure competent expertise in meeting the needs of our customers.

Businesses are often unsure of what to do with their money in current economic times. Is there one tried and true statement you always find helpful in terms of investing and spending?

Be prudent with your expenses, be willing to take some risks with your investments, and always look for opportunities.

What is the biggest mistake you see businesses making with their banking, and how do you suggest overcoming that challenge?

The biggest mistake businesses make is hesitating to contact their banks when problems arise.  The bank should be a member of your financial advisory team in running your business. Your bank is the partner, providing you with the capital and the tools you need to run your business every day. With those thoughts in mind, it is important to keep your bank informed and let them help you with suggestions. A long-term relationship with your bank, or banker, is as important as a long-term relationship with your accountant.

You recently hired Vitamin to assist in Hamilton Federal Bank’s rebranding strategy. How did you know it was the right time to rebrand?

As we increased our staff and our market presence, it became obvious that we needed to change the advertising and marketing strategies we had implemented several years ago. In addition, the banking industry was not the same as it was years ago. Therefore, Hamilton felt it was time to freshen up our brand and relaunch our company as we moved forward with our strategic plan. In doing so, we quickly realized that we needed a company that would allow us not only to reach and inform potential customers of who we are, but to energize our current customers with our new line of banking services.

Where do you see the future of the community banking industry going?

The future of the community banking industry will continue to prosper over the next few years as the “big banks” continue to shake off their tarnished reputation. Equally, no longer will community banks be able to survive on just mortgages, savings accounts and commercial real estate loans, for the banking world has changed. The community banks that realize this vision and provide superior service find a niche in the market and will continue to prosper and grow.

What is your vision for Hamilton’s future?

I expect Hamilton Federal Bank to continue to expand our services in the Maryland area and be the bank that our customers deserve. We will look to do this organically by growing our retail and business banking customer base from within. This will entail a focused marketing strategy aligned with our current strategic plan that is embraced by all employees as we continue to enjoy our successes and look forward to our future opportunities.

Many banks have recently added several fees for their services (e.g., Bank of America recently announced a $5 monthly debit card fee). What is Hamilton’s plan for fees as they relate to checking accounts, debit cards, etc.?

It’s a shame that so many banks have started raising fees to supplement the loss of income due to recent laws and regulations. Hamilton is not considering raising fees at this time. We are in growth mode and are not experiencing the same challenges being faced by other banks in this economy. We plan to continue providing access to more than 50,000 Allpoint ATMs with no additional charge, as well as providing free checking accounts, free online banking, and free debit card usage.