Executive Vice President & Chief Administrative Officer
First Central Savings Bank
Michael Serao has 21 years of banking experience including time at Commerce Bank in Astoria, NY, Vice President of JPMorgan Chase, and Quontic Bank also in Astoria, NY. He now serves as Executive Vice President, Chief Administrative Officer at First Central Savings Bank headquartered in Glen Cove, NY.
As Chief Administrative Officer, Serao has brought First Central Savings Bank (FCSB) into the 21st century. Through his advocacy as a game-changing player of the nonprofit sector and a prolific LGBTQ activist, Serao ignited change for clients looking for a full range of personal banking services at a brick and mortar institution with the ability to bank anywhere, anytime. By bringing FCSB’s branding to a new level, Serao inspired the troops to make the change to “Banking the way it used to be, only better.”
Serao hired Business Development Officers (BDOs) to generate new deposits and loan growth. The BDOs embedded into the community by joining local nonprofit organizations to expand reach and acquire new customers and capitalize on new business opportunities. “We can make it work,” became a reality for customers. The BDO’s mission reflected the bank’s commitment to enriching communities, driving local economic growth, and cultivating lasting relationships by putting the best interests of clients first. As part of the response to community needs, FCSB began hosting no-cost financial literacy classes offering well-rounded education on critical personal finance knowledge as well as business development services for small business owners.
Serao leads the philanthropic mission of FCSB by securing funding for nonprofits including: The NYC Children’s Theatre, The Metro Boys & Girls Club, Long Island Library Resources Council, Freeport Educational Foundation, Long Island Crisis Center, and The American Italian Cancer Foundation, plus many more.