Business & Tech

10 Questions With Incoming Rockville Bank CEO William Crawford

The soon-to-be bank chief executive officer talks about the new public company, expansion and business models.

William H.W. "Bill” Crawford IV, 45, a veteran of the banking industry, most recently with Wells Fargo, was named the successor to longtime Rockville Bank President and Chief Executive Officer William "Bill" J. McGurk in January 2011. Crawford is currently the bank's Senior Executive Vice President and will take over for McGurk at the company's annual meeting on April 26. McGurk will remain on the Board of Directors for at least two more years and we’ll still hear him on the radio doing ads. 

This week, Patch sat down with Crawford and asked him 10 questions about his job, the bank's move to a public company and the future of Rockville Bank. 

1. What attracted you to Rockville Bank?

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The company has a terrific history. It has said “no” to TARP money, and it has performed very well financially, and in terms of customer service and commitment to the community. It has stayed away from sub-prime lending and, at the same time, has continued to lend through challenging economic times. Rockville Bank has made sound business decisions. As a new CEO, I could not be in a better position and there’s no other place I’d rather be than at Rockville.

2. How was your first day on the job?

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I walked in, met Bill McGurk, and he said to me, "C'mon, we're doing a television commercial today.” Then, we did a radio spot. It was a little unexpected, but that's the way the bank operates. I have had a chance to watch Bill and learn how he operates, too. It's like I was given the key ingredient to the secret sauce right away. 

3. Have you settled on a house yet?

No. I am traveling back and forth to Virginia Beach. I want my family included in the decision after the school year. It's a busy lifestyle right now, but I can sleep on the plane.

4. The bank just completed its second-tier stock offering that made it a fully public institution. What is your reaction to it?

The second-step offering was well received. It was a vote of confidence for depositors and investors. One of the things the Dodd-Frank Act has done is require more working capital. We have an obligation to shareholders, but we also are committed to remaining a community bank focused on the customer and community service. What makes us successful is the strong reputation Rockville Bank has in the markets it serves in terms of customer service and giving back.

5. Many residents of north central Connecticut are still displeased over the merger of The Savings Bank of Manchester, Tolland Bank and New Haven Savings Bank into the larger NewAlliance, and now the even larger merger with First Niagara. Could history repeat itself with Rockville Bank?

The only change I’d like to see is for people to change to a local community bank that thinks independently. When a business is run well, and provides good customer service, they have the ability to control their future. 

6. Can you elaborate on that?

Rockville Bank will have opportunities to expand, both in terms of assets and geography. When we went into towns like Coventry, Tolland, Colchester, Suffield and Glastonbury, it was the customer and particular market that asked us to come. Investing in the towns we serve and treating customers right are what make the difference for Rockville Bank. Our community bank mindset is one reason that the bank is so popular.

7. How are the bank's assets?

We are at about $1.7 billion right now and have enough capital to double that size.

8. Were the employees worried about going totally public and getting a new CEO all at once?

There were some questions and concerns, but as a leader I stress the importance of the empowerment of each employee. I have to be an extension of our motto … proudly saying, “Rockville Bank, That’s My Bank!” Rockville Bank is our bank and that allows the employees to be themselves. If we treat the employees well – as empowered teammates – everyone will do a good job for the customers.

9. So they seem happy with the way things have gone?

Yes. They have been assured we will be reinvesting in the business. “If you see us doing that,” I am saying to them, “then do not worry. When we do nothing, it's time to worry.”

10. Will Rockville Bank continue to be involved in the community?

Yes, and more. We are currently involved with 343 organizations either through financial support or employee volunteerism related to the communities we serve. It is a key point of our business success. It's one way we keep in touch with our communities. Plus, it's a lot of fun.


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