In 2022, supporting local businesses is more important than ever. The local Chamber of Commerce is a valuable resource for local businesses, and that is why we are highlighting a different member of the Chamber every month. This month we talked to Kevin Cashen, the president and CEO of Queenstown Bank. What is the Chamber of Commerce? The Chamber of Commerce is a regional resource that allows local businesses to reach out and get information in regards to business, community resources, and the law. The Chamber also helps you learn more about businesses in the community, and the community as a whole. Whether you’re just starting out, or are running a million dollar company, the Chamber has the potential to help your business be its best.
Could you tell me a little bit more about your background? What drew you to finance and banking?
I have been a banker since 1984. I grew up in Baltimore and, after college, joined a Baltimore Bank, Loyola Federal Savings and Loan. I had brothers at Equitable Bank and Maryland National Bank and a sister at Mercantile Bank, so I guess banking was in the family, although I am the only one who stayed in banking long-term. I thought I would do that for a few years until I figured out what I wanted to do. Now, 38 years later, I am still enjoying what I do. I spent my early banking career in Baltimore/Washington for banks including Signet and Chevy Chase Bank. I moved to the Eastern Shore in 2017 to join Queenstown Bank, a great local tradition in banking.
What makes a local community bank like Queenstown Bank different from other larger institutions?
Personal touch. We are of a size and geography that we know most of our customers personally and can, therefore, work with them on their financial needs through thick and thin. Small banks have more flexibility to work with their customers because they know the local circumstances better. Each bank in the “size spectrum” serves an important purpose in the financial health of businesses and consumers, community banks just do it on a more personal level.
What has been the biggest change in the local banking industry in the last decade?
Consolidation and technology. We continue to see mergers and acquisitions in the banking space. The number of banks in this country has been cut in half over the past 20 years. As the business gets more sophisticated and regulations grow, scale matters. Technology is now driving a lot of where banking is and where it is going. We can now do most banking services on our phones, but many people continue to enjoy the human touch of a branch bank. Banking in the future will be a balance between the two.
What are some underused resources that Queenstown Bank offers?
Often people assume that if you are small, you can’t offer the same level of technology. In the banking world today, that is simply not true. We have a robust online banking and mobile banking platform that does most everything the big banks can do. Specific to our bank, people love us for our consumer and retail banking but often don’t think of us for their commercial banking needs. That is changing, but we are still perceived as a retail bank.
Looking back in your career, are there any moments that stand out to you?
I would say the PPP program that was introduced at the beginning of the Pandemic. This program was a national program with billions of dollars that was developed and executed in a matter of weeks. I have never seen anything like that in the highly regulated business of banking. The good news is that we all came together to pull it off, and it saved thousands of businesses from certain failure. There were some very late nights and 24-hour marathons early in the program but, at the end of the day, it was worth it to help our friends and neighbors.
For more information about Queenstown Bank and their services, visit www.QueenstownBank.com or call the Queenstown branch at 410-827-8881.
The Queen Anne’s County Chamber of Commerce has been representing businesses at the “Gateway to the Eastern Shore” for almost 30 years. The Chamber is the most trusted source for information on local businesses and services. For more information on how to join the Chamber or to attend events, please contact Linda Friday, President at 410-643-8530 or linda@qacchamber.com. Looking for more information about local businesses, stop by the Chamber Monday through Friday between 9am and 4pm at 1561 Postal Road in Chester.
UPCOMING EVENTS:
For more info, contact linda@qacchamber.com
Thru May 10 – SPONSORSHIPS AVAILABLE for 35th annual golf tournament sponsored by QAC Chamber of Commerce on 5/12 @Queenstown Harbor Golf Links.
Mar 24 – MARCH, MIX & MINGLE networking event sponsored by KI Yacht Club & Smokehouse Grill. No charge; cash bar. 5-7pm. KI Yacht Club, 117 Yacht Club Dr, Chester.
May 12 – 35TH ANNUAL GOLF TOURNAMENT sponsored by QAC Chamber. 8:15am-3pm. $125/player; $500/foursome. Queenstown Harbor Golf Links.
May 18 – ANNUAL REGIONAL CHAMBER MIXER 5:30-7:30pm. Chesapeake College Caroline Center, 100 College Dr, Wye Mills. https://business.qacchamber.