ELMIRA — Elmira Savings Bank announced today that it has appointed Thomas M. Carr president of the state chartered banking company, which has more than $510 million in assets.
Michael P. Hosey will remain the company’s CEO and vice chairman of the board.
Carr, 44, joined Elmira Savings Bank in June 2000 as senior vice president and chief financial officer. Over the past eight years, he has served as the bank’s executive vice president and chief operating officer (COO) with broad management authority across all business lines and operations. Carr continues in the COO role as he becomes president of the bank. He was elected to the board of directors in January 2012.
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Carr holds an MBA from Le Moyne College and attended the Tuck Business School executive development program at Dartmouth University. He is currently active on the boards at ElmCo LLC, Chemung County Historical Society, Three Rivers Development, Notre Dame High School, Elmira City Club, and Elmira Country Club.
“Michael Hosey has positioned Elmira Savings Bank as one of the leading community banks in the region,” John Brand, III, chairman of the bank’s board, said in a news release. “The board has every confidence that Thomas Carr will continue to carry on the tradition of excellence at the bank.”
Earnings
Elmira Savings Bank also announced today that it generated net income of $1.19 million in the first quarter, up almost 3 percent from $1.16 million in the year-ago quarter, led by gains in noninterest income.
The bank has six offices in Chemung County, three offices and a loan center in Tompkins County, two offices in Steuben County, one office in Cayuga County, one office in Schuyler County, and a loan center in Cortland County.
Contact Rombel at arombel@cnybj.com
