PORT FINANCIAL CORP. Brighton, Massachusetts Tiny Bank's Message: Bring It On, Big Boys It Relishes Competition That's because as more national players pop up, it can win new clients.(THE NEW AMERICA)

Byline: GLORIA LAU

You'd think that a small, regional bank would be a little leery of having to compete against huge international players.

That's not the case at Port Financial Corp. In fact, the holding company for Cambridgeport Bank and its 11 branches likes to set up shop where the big boys operate. The reason? It's easier to poach disgruntled customers.

"We've benefited from the big banking mergers -- no doubt about that," said James Keegan, Port's chairman and chief executive. "We specifically target our marketing and products to get people coming from those banks to give us a chance."

Port has $1.2 billion in assets -- a drop in the bucket compared with rivals such as FleetBoston Financial Corp., which boasts $203.6 billion.

So how does the tiny bank compete? By employing an old-fashioned tactic: customer service.

For starters, bank personnel are asked to remember customers' names. Moreover, a portion of each bank worker's bonus is tied to customer satisfaction surveys. That's a pretty good incentive. Branch managers' bonuses can run as high as 30% of base salary.