Worcester Business Journal

18 Worcester Business Journal • October 12, 2015 www.wbjournal.com Your business needs aren't small. Luckily, our business team isn't either. Whether you're just starting out, looking to refinance, or simply wanting to get more from your business banking partners, our commercial banking team is here to help. With specialists in every area of commercial banking – from business loans to cash management to credit and everything in between – we have the knowledge, expertise and commitment to help you grow your business. And with local decisions made right in Worcester, business banking has never been simpler or more convenient. Talk to us today. Member FDIC Equal Housing Lender 866.959.BANK bankatunited.com BANKING THAT'S ALL ABOUT ONE BUSINESS: YOURS. Commerce Bank incorporated the Mercantile Bank & Trust Co. that had three branches in 2012, it was an absorption more than a merger. In addition to changing the physical structures of the buildings and different methodology of daily operations, it was important to ensure the employees were a part of the Commerce culture before the doors opened on the first day at the former sites. Commerce President and CEO Brian Thompson took a personal approach, agreeing with Boyer and Manzi that culture, while instilled in everyone, is driven from the top down, with those in power having a huge ability to set the tone for an institution. "I met with all the groups of employees often … I would sit with them and have a cup of coffee with them and get to know about their families," Thompson said. "It is continuous and you do it all the time. You make a conscious effort to integrate your team." Merger tips One of the biggest things to be done when beginning the move to a merger is to closely examine the other company's culture, said Boyer, who did this firsthand by both meeting with Manzi and taking a few trips to Fidelity branches. "I like to think I can walk into a bank and get a feel for their culture in 10 minutes just by speaking to people and observing people," Boyer said. Transferring and melding cultures is something that has to come from leadership, but be adopted by everyone in the organization, Manzi said. Skills can be trained, but culture is something that needs to be instilled by all employees, he said. "We can write all these things down on paper and what our commitments are … (but) at the end of the day, this culture lives in people and every part of this culture lives in people. You can't train that," Manzi said. Being active in a very hands-on way was Thompson's way of instilling the culture and working towards a smooth transition. Whenever two companies come together, it is important to be as transparent and fair with employees as possible, he said. This extends to getting new employees accustomed to the organization. One thing is for certain, according to Thompson: These types of mergers of community banks will continue. Every institution needs a critical mass in order to be able to hire talented workers while managing costs. With increased regulations and reporting, mergers like that of Fidelity and Barre will continue to happen. "The people that are selling today are in the smaller category because the margins have continued to shrink, so the numbers are less," Thompson said. n Bank merger culture >> Continued from Page 17 KEYNOTE B U S I N E S S CONFERENCE & T R A D E S H O W Secretary Ash is responsible for job creation and business development and regulation. THURSDAY | NOV. 5, 2015 Presented by 11 am - 7 pm | DCU Center, 3rd Floor REGISTER ONLINE www.CentralMassBusinessExpo.com PRESENTING SPONSORS Noon - 1:30 pm REGISTRATION REQUIRED $65 CHAMBER MEMBERS | $95 NON-MEMBERS A LA CARTE – See Website Join us at the region's largest business conference… New Focus, New Energy, and Dynamic New Programming ECONOMIC DEVELOPMENT LUNCH Jay Ash Mass. Secretary of Housing and Economic Development EXHIBITORS | 11 am - 5 pm 60+ businesses SEMINARS | 2 - 3 pm & 3:30 - 4:30 pm Professional development on sales and marketing, HR practices, IT solutions, funding, and more! RECEPTION | 5 - 7 pm Sample your way through Business After Hours with cuisine from the area's best caterers. Network and enjoy live entertainment. SUPPORTING SPONSOR CONFERENCE COST

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