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Community Bank earnings drop after securities-sale losses
DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU), parent company of Community Bank, N.A., recently reported that its earnings plummeted in the first quarter, with net income falling nearly 88 percent to $5.8 million from $47.1 million a year ago, in the wake of a balance-sheet repositioning. Earnings per share dropped nearly as much, […]
Financial literacy is a business must, banker says
DeWITT, N.Y. — Often thought of as something for individual consumers, financial literacy can be an important element of business ownership, according to one area banking professional. There are really two prongs to financial literacy for business owners, says Laura Mattice, Community Reinvestment Act officer at Community Bank, N.A. The first prong is really understanding
Solvay Bank announces promotions in branch administration
SOLVAY, N.Y. — Solvay Bank announced the recent promotions of Caitlin Wynn and Jan Lighton in its Branch Administration Department. Wynn has been promoted to retail operations specialist at Solvay Bank. She has previously held the roles of head teller, banking-solutions representative, and assistant branch manager. Wynn graduated from Saints Peter and Paul Catholic College.
AmeriCU CEO says the credit union remains financially strong
ROME, N.Y. — Rome–based AmeriCU Credit Union “remains financially strong and well-capitalized.” That’s part of the message that Ronald Belle, president and CEO of AmeriCU, delivered to the credit union’s annual membership meeting held March 13. John Stevenson, chairman of the AmeriCU board of directors, also addressed the current membership on the credit union’s financial
Berkshire Bank parent’s Q1 net income rises 37 percent
Berkshire Hills Bancorp (NYSE:BHLB) — the parent company of Berkshire Bank, which has a major presence in the Mohawk Valley — reported first-quarter net income of $27.6 million, or 63 cents a share, up nearly 37 percent from $20.2 million, or 42 cents, in the year-ago quarter. While the results matched those forecast by Zacks
Visions FCU opens newly rebuilt branch in Tioga County
NEWARK VALLEY, N.Y. — The newly reconstructed branch office of Visions Federal Credit Union (FCU) in Newark Valley in Tioga County is now open. The branch opening concludes a year-long project to tear down and rebuild the structure at 7198 State Route 38, Visions FCU said in its April 5 announcement. The new office includes
Pacos joins Five Star Bank, parent company as chief risk officer
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently announced that it has added Gary Pacos as chief risk officer. In his role, Pacos is responsible for all aspects of the organization’s risk-management function including identifying, measuring, monitoring, and managing risk throughout the company. Pacos arrived at Five Star
NBT Bancorp’s first-quarter earnings dip 14 percent
NORWICH, N.Y. — NBT Bancorp, Inc. (NASDAQ: NBTB) reported net income of $33.7 million, or 78 cents per share, in the first quarter of 2023, down nearly 14 percent from $39.1 million, or 90 cents, in the year-ago quarter due to securities losses and acquisition expenses. “NBT’s first-quarter results reflect the strength of our balance
Oswego County FCU donating $25K to selected nonprofits
OSWEGO — Oswego County Federal Credit Union (FCU) says it’s donating a total of $25,000 to a variety of area nonprofit organizations. The effort started in April and will continue throughout May, per its April 11 announcement. Now in its second year, the credit union developed this initiative to increase “employee involvement and presence” within
AmeriCU investment team wins industry award
ROME, N.Y. — AmeriCU Credit Union’s investment team recently received the 2022 Perspective Program Award of Excellence from the Credit Union National Association (CUNA) Mutual Group. CUNA Mutual Group is a mutual-insurance company that provides financial services to cooperatives, credit unions, and their members. A selection committee used information from sales leaders, managers, and CUNA
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