CEO, Blue Foundry Bank
Jim Nesci is the CEO of Blue Foundry Bank, a North Jersey regional bank with 18 branches – two of them right here in Ridgewood. Those branches are about to be consolidated into the large downtown space where The Gap used to be. We talk about that transition and what the future holds for in-person branches versus a fully digital experience.
Jim describes his experience running the bank during the pandemic, his management style, and the true reality of what it’s like to be a CEO. We also talk about how and why the company changed its name two years ago from “Boiling Springs.” And speaking of changes, Blue Foundry is about to go public on the stock market, which Jim believes will help set them up for future sustainable growth.
We talk about how they compete against the national megabanks, their ideal type of customer, and the struggles of many small businesses to grow. I also ask Jim which bank he personally uses for his own money.