Dime Bancorp has hired Fred B. Koons, former chief executive of Chase Manhattan Mortgage Corp., to head its rapidly growing mortgage banking operations.
Mr. Koons, who left Chase last year after the merger with Chemical Banking Corp., had been a consultant for New York-based Dime for the last four months, according to Lawrence J. Toal, Dime's president and chief operating officer. In July, Jenne K. Brittell, who had been Dime's chief lending officer, left to take a job with GE Capital Mortgage Services Inc.
Dime has been increasing its presence in the mortgage market and sought to expand outside the Tri-State area.
Last year, Dime merged with Anchor Bancorp and also bought two mortgage banks - Griffin, Ga.-based National Mortgage Investments Co., and Fairfax, Va.-based James Madison Mortgage Co. They gave Dime an additional $1 billion in origination capabilities.
Dime, the largest thrift in the New York area, originated $1.5 billion in mortgages as of midyear, making it the No. 44 originator. The company is also the No. 31 servicer, with a portfolio of about $15.6 billion.
Mr. Toal said with Mr. Koons now on board, the mortgage unit would continue expanding on the East Coast and may seek to enter the Midwest as well. He did not rule out further acquisitions.
The company will open a new mortgage banking headquarters in Tampa, Fla.
Two other mortgage executives from Chase were hired by Dime as well. Thomas W. Glenn, 48, will head its national mortgage production and sales. Bill W. Taylor, 47, will head Dime's national correspondent business. Both Mr. Glenn and Mr. Taylor were senior vice presidents with Chase.
Mr. Koons and Mr. Glenn will operate out of the new headquarters in Tampa, while Mr. Taylor most likely will be based in Louisiana.
