Banking for Good – CFG Bank launches Maryland Tough Baltimore Strong High Yield Money Market Account to support Key Bridge Recovery
By:
Sharon J. Lorman
Robert E. Kafafian
Benjamin T. Crowley
Guest: John W. “Jack” Dwyer, Chairman, CEO and Founder of CFG Bank
Podcast Show Notes:
Our This Month In Banking (TMIB) podcast features discussion with colleagues and other industry thought leaders on interesting banking topics. TMIB is available on the last Wednesday of every month here, and on Apple and Droid podcast apps for your listening enjoyment. Join us on your commute, at your desk, or at home.
Topic: Banking for Good – CFG Bank launches Maryland Tough Baltimore Strong High Yield Money Market Account to support Key Bridge Recovery
Our guest is Jack Dwyer, Chairman, CEO and Founder of CFG Bank.
CFG Bank (CFG) is the largest bank headquartered in Baltimore and a leader in the healthcare and multifamily financing industry. The Bank has demonstrated exceptional financial performance and strength. For example, Return on Average Assets was 2.64% in the first quarter of 2024 with 24.13% Return on Average Equity. CFG has a unique and entrepreneurial business model and has recently launched its Maryland Tough Baltimore Strong High Yield Money Market Account to support Key Bridge recovery and resilience efforts, as well as a $500,000 company donation match for funds raised through the new account. Through this first-of-its-kind account, commercial and retail customers have the opportunity to donate 0.05% of their accrued interest through the end of the year to the Maryland Tough Baltimore Strong Key Bridge Fund, with CFG matching up to $500,000. This fund-created by Baltimore Community Foundation-supports regional efforts to heal, respond and memorialize in coordination with adjacent efforts with strategic partners. Jack Dwyer joins us on this episode to discuss his vision behind this unique product and the impact it will have on the people and city of Baltimore, as well as CFG’s unique and entrepreneurial business model. Listen and enjoy!
Biography
John W. “Jack” Dwyer
Chairman, CEO and Founder
CFG Bank
Mr. John W. Dwyer, also known as Jack, founded Capital Funding Group in 1993. He has been involved in the financing of more than $7.6 billion in FHA-insured healthcare mortgages. Over the past 20 years, Dwyer has created a family of 11 companies that provide full-service, comprehensive financing solutions and banking solutions, focused on the national healthcare and multifamily markets and Mid-Atlantic region. Dwyer actively creates new products and investment platforms that are tangential to and leverage the entire CFG family of companies to support client growth opportunities.
In 2009, Dwyer formed Capital Funding Bancorp, Inc. and acquired AmericasBank Corp. and its subsidiary, AmericasBank. AmericasBank underwent a name change in November 2009 and is now known as CFG Bank, which offers commercial and personal banking solutions. Subsidiaries of CFG Bank include Capital Finance, LLC, the only working capital/accounts receivable lender focused exclusively on skilled nursing as well as Capital Funding, LLC, under which the company’s HUD origination, underwriting, processing and servicing departments are housed.
Some of the other companies under the CFG family include; Capital Senior Ventures, LLC, a company that acquires skilled nursing facilities in order to lease them back to operators; Capital Lending and Mortgage Group, LLC, a healthcare bridge lending company; and Capital Health Group, LLC, a self-advised real estate company that focuses on independent, assisted living and memory care facilities. Dwyer recently established CFG Seniors Housing, LLC, a company that provides financing services to the seniors housing industry; CFG Multifamily, LLC, a company that offers financing solutions for the multifamily housing industry; and CFG Credit Partners, LLC, an off-balance sheet credit vehicle formed to significantly expand CFG’s skilled nursing Bridge-to-HUD lending capabilities.
Always looking to take action to improve the lives of those in the community, and with CFG’s strong presence in the healthcare market, Dwyer, alongside his wife, Nancy, formed The Jack and Nancy Dwyer Workforce Development Center, Inc. to improve the lives of seniors housing residents while alleviating the negative societal effects of systemic poverty by providing job training and placement services, educational programs and financial assistance within the skilled nursing and seniors housing industries to unemployed or underemployed individuals.
A businessman, entrepreneur, philanthropist and father, Dwyer also serves as a board member of the National Aquarium. He received his Bachelor of Science in Business Administration from Widener University and is a Certified Public Accountant.
Watch for episode 106 of This Month in Banking to be released on Wednesday, October 30th, 2024, and a new episode on the last Wednesday of every month.
Thank you for listening!