Lawrence J. Toal

Lawrence J. Toal, a beloved husband, father, grandfather and friend, passed away peacefully at his home on December 12, 2024. Larry was celebrated for his warmth, intellect, magnetic personality, and spectacular sense of humor.

Larry was born in Astoria, Queens on May 19, 1937. His parents had emigrated from Scotland. Neither had the opportunity to attend college, but they emphasized the importance of education to their three children. Larry lost his father when he was just 15, but with the support of his mother and his older brother and sister, Larry excelled as a student and, according to him, in the neighborhood’s most competitive athletic pursuit, stickball. He attended Dartmouth College and graduated in 1959 with a degree in economics. While there, he formed many lifelong friendships, served as president of Alpha Chi Rho fraternity, participated in the Reserve Officer Training Corps, and ran on the cross country team. He remained active with Dartmouth after graduation, serving as Treasurer of his class, interviewing prospective students, and serving as a board member for the Dartmouth Partners in Community Service. His love of Dartmouth proved infectious. One of his sons and three of his grandchildren followed in his footsteps at Dartmouth.

After college, Larry served in the Navy as a Lieutenant on a destroyer escort. Larry used to say that most of his two years in the Navy was spent bouncing around the North Atlantic like a cork. But, in some ways, his military tenure turned out to be the most important time in his life. While there, a fellow officer set him up on a blind date with his cousin. In Larry’s words, he had met the “love of his life,” but it wasn’t his friend’s cousin. It was her roommate, Sheila O’Connor, who would become Larry’s wife of 61 years. They had two children, Jim (born in 1966) and Dan (born in 1969). And they eventually had five grandchildren, who they cherished and did their best to spoil beyond repair.

After leaving the Navy, Larry started in the officer training program for Chase Manhattan Bank and then earned his MBA from New York University at night. He worked at Chase for 26 years, rising to the rank of Senior Vice President, and serving as the as the bank’s country manager in Hong Kong for three years and the Head of European Consumer Banking in London for three years. He left Chase in 1988 to accept a position as President of PSFS, a $10 billion Philadelphia savings bank. Three years later, he returned to New York to work as President and later as Chairman and CEO of the Dime Bancorp, a $27 billion financial institution. Larry retired in 2002 after Dime was acquired by Wachovia.

In retirement, Larry made the most of his time. He became an accomplished photographer after studying at the International Center of Photography. He and Sheila traveled frequently with close friends. They played a lot of golf, a sport Larry picked up later in life. Larry and Sheila also took advantage of the many cultural offerings in New York City, including opera, symphony, and the ballet.

Throughout his life, Larry devoted himself to numerous charitable causes. He served as a trustee and Chairman of the HealthCare Chaplaincy, a multi-faith organization advocating a new model for end-of-life care. He also served as trustee, Vice Chairman and President of Big Brothers/Big Sisters of New York City, a well-known youth mentoring organization.

Larry is survived by his wife Sheila, his sons Jim and Dan, his daughters-in-law Christine and Lauren, his sister Phyllis Dircks, and his five grandchildren, Katie, Matthew, Ashley, Jack and Siena. Family will receive friends between 5 and 9 pm on January 10, 2025 at Frank E. Campbell Funeral Home at 1076 Madison Avenue, New York, NY 10028. The funeral will be held at 10 am on January 11, 2025 at St. Ignatius Church at 980 Park Avenue, New York, NY 10028 and will be followed by a reception at Siwanoy Country Club at 351 Pondfield Road, Bronxville, NY 10708. In lieu of flowers, donations may be made to St. Jude’s Children’s Hospital, Big Brother’s/Big Sister’s of New York City, or Breakthrough T1D (f/k/a the Juvenile Diabetes Research Foundation).