NYLIB Congratulates Michael Serao, EVP & CAO at First Central Savings Bank, on Community Leadership Award
NYLIB is pleased to announce that First Central Savings Bank (FCSB) Executive Vice President and Chief Administrative Officer Michael Serao will be honored with the 2025 Community Leadership Award at the June 10th Believe Gala benefiting Quality Services for the Autism Community (QSAC)!
FCSB has long been a valued member of the NYLIB community. The bank was chartered and opened in 1999 by Joseph Pistilli with a single branch in Whitestone, Queens. At the time, it was the first new savings bank organized in New York State in 20 years. Over the past 26 years, FCSB has opened additional branches in Glen Cove, Astoria, Huntington, Bayside, Flushing, Ditmars, Forest Hills, and Lynbrook.
FCSB board member and audit committee chair Ed Lutz, a former FDIC regional director and community bank CEO, has served as NYLIB’s President since 2019. Michael has been an active participant in NYLIB for years and has served on our Advisory Board since March 2023, playing an integral role in NYLIB’s strategic direction and programming.
As FCSB’s Executive Vice President and Chief Administrative Officer, Michael is responsible for managing FCSB’s strategic direction and planning, as well as its overall regulatory compliance and relations. Michael has led FCSB by hiring Business Development Officers (BDOs) who have embedded into the community to generate new deposits and loan growth, hosting free financial literacy classes and business development services for small business owners, cross-training FCSB tellers as “Universal Bankers” who can handle all account activity, implementing Remote Deposit Capture, and renovating FCSB’s branch network. Under Michael’s leadership, FCSB’s branches (which feature classic elements such as teller windows, Tuscan marble ceilings, granite columns, and intricate cornice work) have been featured in major films and television shows including The Irishman, The Joker, Law and Order, Ray Donovan, Mr. Robot, and The Americans.
Michael also leads the bank’s philanthropic efforts and has been able to marry his work in the banking industry with charitable causes that he is passionate about. He is well known for his commitment to philanthropy and public service, particularly in the LGBTQ and autism communities, and has won innumerable awards and honors for his philanthropy and public service. In 2024, Michael was featured as one of Fortune Business Review’s 10 Most Inspiring Leaders in Business.
Michael currently serves on the board of Quality Services for the Autism Community (QSAC), a New York City and Long Island-based nonprofit supporting children and adults with autism. He will be honored with QSAC’s 2025 Community Leadership Award at the Believe Gala on June 10, 2025.
Michael resides in Long Island with his husband, Dr. Fidel Abreu, the founder of Fidel Abreu, DDS PLLC, a full-service dental spa located in Freeport. Dr. Abreu prides himself on providing a safe space for LGBTQ and autistic patients, as well as free services for victims of domestic violence.
NYLIB President Ed Lutz reflected as follows on FCSB’s historical commitment to NYLIB and Michael’s appointment as an Advisory Board member: “FCSB and its founder Joe Pistilli have been an integral part of NYLIB since the beginning. While Joe continues to be an active and valued member of the NYLIB community, I am grateful that Michael Serao has stepped forward to take a formal leadership role at NYLIB. Michael is a young, talented, and energetic leader who is actively engaged in the New York banking community and has his finger on the pulse of the emerging issues that are important to bankers. NYLIB needs the active involvement of leaders like Michael to guide it in continuing to provide networking opportunities, programming, and services that provide value to the banking community. I hope that the NYLIB community will consider supporting Michael and QSAC at the Believe Gala on June 10th - the proceeds of which will support QSAC’s vital work in the autism community.”