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LPM Holding Company, Inc. is a family-owned business, with over 60 years of industry experience and was founded with a passion for great service. Bob Watson, the current Chairman and CEO of LPM Holding Co., Inc. and Laurie Watson, Co-Chairperson, acquired the business in 1988 and have successfully grown the company to be one of the top 50 largest multi-service management firms in the nation. The Watson Family's passion for food and people has contributed to the growth and success of the company. In this testimonial, Bob Watson shares how South Shore Bank has made a positive impact in the operation of his business.
Tell us about your organization’s mission and what makes your business unique.
LPM Holding Company, Inc. is a food service company that provides to business and industry, as well as schools, colleges, healthcare, and cultural/entertainment venues. We also offer a significant list of catering services. Together, we believe what makes our business unique is largely the charitable work we do with our own, very active, foundation. In the food industry, LPM Holding Company, Inc. is relatively small in comparison to our competition, but we feel this gives us a niche in New England’s communities.
What led you to decide to bank with South Shore Bank?
Word of mouth. I had a conversation with a friend and competitor. This person spoke highly of South Shore Bank, having recently moved his business to the Bank as well. It’s been almost two years and LPM Holding Company, Inc. couldn’t be happier.
How does South Shore Bank deliver for the needs of your business?
We know to expect bumps in the road when changes are made, and South Shore Bank has done a wonderful job in making the transition as easy as possible. LPM had been conducting large weekly transactions with a food supply vendor in an area where the Bank does not have a location. Our checks were being intercepted, but the Bank’s Positive Pay program detected the fraud immediately. The Bank’s use of this tool was a godsend. On a personal note, my wife and I also enjoy our consumer experience at the Bank. We went to the Bank to get Euros for a trip and were quite taken with the Face2Face virtual teller capabilities!
How did the solutions South Shore Bank provided have a business impact and, in turn, impact the community?
When the pandemic hit, LPM Holding Company, Inc.’s business was decimated. We had to let go of many employees, went through a financial upheaval, and we as owners stopped taking checks; things were in dire straits. The way South Shore Bank impacted our business was a heartfelt feeling we did not expect. From the very beginning, we knew South Shore Bank was there to help and wrap their arms around us.
Is there something about working with South Shore Bank that resonates with you?
An event that resonated with us was when Jim Dunphy, President and CEO, invited me to the opening of Sullivan’s Castle Island in Hanover. I recalled that going to Sullivan’s was always a treat while growing up in the city of Boston with my four brothers. Jim Dunphy along with Steve DiPrete, Chief Commercial Banking Officer and Cate Adams, Commercial Banking Relationship Manager went above and beyond to make my wife Laurie and I feel included. We have never experienced the level of accessibility Jim and Cate continue to demonstrate. I could not ask for a more responsive contact with Cate Adams at the Bank, and I highly regard her as a wonderful person.
Would you recommend Banking with South Shore Bank, and if so, why?
I would unequivocally recommend South Shore Bank and would offer to speak with prospective clients because I feel comfortable recommending the Bank in an enticing way. We are grateful that the relationship with South Shore Bank has begun and look forward to many more years together. We will do our part and help each other share success and grow.
To learn more about LPM Holding Company, please visit: www.lpmhci.com