Melville Banking CEO Dies

Daniel L Murphy, Chairman and CEO of Madison National Bank, lost his battle with cancer on Monday. He was 52.

Murphy, a Melville resident, was a figure in Long Island banking for nearly 30 years and co-founded Madison National in 2007.

“Mr. Murphy will be greatly missed by the entire Madison National family as well as by his colleagues and friends throughout the banking industry,” the bank wrote in a statement.

The CEO was granted medical leave one day before he died. Murphy requested the leave last week as his condition worsened. Plans were in order for Murphy to lead the bank after it was acquired by FNBNY. 

Co-Chairman and President Michael P. Puorro will be responsible for the day-to-day operations of the bank, Madison National announced. The merger with FNBY will take place March 30 and the bank will be renamed First National Bank of New York.

Prior to his death, Murphy had nearly 30 years of experience in banking and held various posts throughout his career. He held the post of Chief Retail Banking Officer for 15 years and was the chief architect for The Roslyn Savings Bank’s successful de novo strategy, managing that bank's growth from five to 40 branches and increasing deposits by five billion dollars with particular emphasis on core deposit and consumer product lines and services.

He oversaw all facets of the retail bank including: consumer lending, marketing, security, corporate insurance, automated payments, alternative investments and life insurance, systems, and the administration of the bank's branches. Murphy later held the post of Executive Vice President and Chief Retail Banking Officer for New York Community Bank and oversaw its 144-branch network.

During his life, Murphy was also involved in the non-profit and charity sector.

In 2007, he was a Mental Health Association of Nassau County Honoree. He won the
 Chief Scout Citizen Award in 2006 and was also honored with a
 Big Brothers Big Sisters Presidential Award in 2004.

He was a key figure in the Long Island business community.

“For those of you who knew Dan, you'll agree that he was a true leader, a man of high morals and so very gracious to everyone he met. Dan supported Moxxie Network from the beginning and we are truly grateful to have known and had an ally in him,” the Moxxie Network, a women's business community, wrote in a statement.

Murphy was buried on Thursday with a memorial celebration held at Saint Matthew Roman Catholic Church in Dix Hills.