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HUNT Engineers, Architects, Land Surveyors & Landscape Architect, DPC
HUNT Engineers, Architects, Land Surveyors & Landscape Architect, DPC recently added DANIEL CLARK as a bridge and structural engineer on its structural design staff. An Alfred State and Rochester Institute of Technology graduate, with degrees in construction and civil engineering, respectively, he specializes in bridge and highway design. Clark has a lengthy list of design […]
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HUNT Engineers, Architects, Land Surveyors & Landscape Architect, DPC recently added DANIEL CLARK as a bridge and structural engineer on its structural design staff. An Alfred State and Rochester Institute of Technology graduate, with degrees in construction and civil engineering, respectively, he specializes in bridge and highway design. Clark has a lengthy list of design and project management projects in Clinton, Jefferson, and St. Lawrence counties. HUNT has also hired MARK CHIOVARELLI as a water/wastewater engineer; VELMA ANDREWS, who works in the firm’s accounting department; and MIKALYA ELLIOTT as an architectural designer.
Mohawk Valley Community College
Mohawk Valley Community College (MVCC) named DIANA AYERS-DARLING professor emerita, in recognition of her many years of outstanding service to MVCC. MONICA BROWN-HODKINSON was appointed student support advisor. She will provide students with a single point of contact to create a seamless pathway for student success from pre-boarding to completion. Prior to joining the college,
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Mohawk Valley Community College (MVCC) named DIANA AYERS-DARLING professor emerita, in recognition of her many years of outstanding service to MVCC. MONICA BROWN-HODKINSON was appointed student support advisor. She will provide students with a single point of contact to create a seamless pathway for student success from pre-boarding to completion. Prior to joining the college, Brown-Hodkinson worked at Utica College as an administrative assistant, academic coaching expert, adjunct faculty member, and, most recently, a success coach. She holds a master’s degree in liberal studies and organization communication and a bachelor’s degree in science, health studies, and human behavior — both from Utica College. GRACE COSTELLO was also named a student support advisor. She has been with the college since 2001 in several capacities, including placement test administrator, college advisor, accessibility resources specialist, and an adult-learner support specialist. She previously served as an accounting clerk at Cathedral Corporation and a billing coordinator at Northland Communications. Costello holds a bachelor’s degree in history from SUNY Oneonta and an associate degree in general studies from MVCC. EMILY GIFFORD has transitioned to the position of coordinator of international students and will be responsible for international student recruitment, support, programming, and retention efforts. GEORDAN HOLMES was appointed licensed mental health practitioner; Holmes will provide an array of counseling, mentoring, and coaching services and personal and educational counseling for individual students. She also will be responsible for the evaluation of mental health and mental-health-related cases. Holmes most recently served as a licensed mental-health counselor at Herkimer BOCES. She previously served as primary therapist in the Intensive Treatment Program at The House of the Good Shepherd. Holmes holds a master’s degree in mental-health counseling and a bachelor’s degree in psychology — both from SUNY Oswego. BRANDON HORENDER was named coordinator of dual credit. He will be responsible for meeting the needs of K-12 partner organizations by coordinating the development and delivery of selected credited coursework and articulation agreements. NANCY HALL was appointed instructor of electrical engineering technology. Before joining the college, she was a principal engineer at Global Foundries; an integrated circuit layout engineer and senior CAD engineer at Fairchild Semiconductor Corporation in South Portland, Maine; a senior process engineer at National Semiconductor in South Portland; and a research engineer at Florida Institute of Technology. Hall holds a master’s degree in electrical engineering and microelectronics and a bachelor’s degree in electrical engineering, both from the University of South Florida. JONATHAN HODGE was named admissions counselor. He will be responsible for recruiting students to achieve college-enrollment objectives. Prior to joining the college, Hodge worked as a K-5 elementary physical education teacher, and assistant varsity and eighth-grade basketball coach at Atkinson Elementary School in Barnesville, Minnesota. He also served as a special education teacher at Beacon Academy in Maple Grove, Minnesota, and assistant basketball coach at Hamline University. He holds a bachelor’s degree in K-12 education: physical education from Saint Cloud State University, and an associate degree in general studies from Minnesota State Community and Technical College. DAVID KATZ was named administrator and professor emeritus, in recognition of his many years of outstanding service to MVCC. JAMES KELLY, IV was appointed additive manufacturing specialist. He will assist the principle investigators of the Remote Lab-Sharing Models for Additive Manufacturing Skills Training-NSF-funded project to fulfill outlined goals. He has been with MVCC in various capacities since 2007, including technical assistant, professional tutor, adjunct faculty member, drone outreach program instructor, and STEM program curriculum designer and lead teacher for Upward Bound. Before MVCC, he worked at Kelly Foundry and Machine, Co., Inc. first as a laborer and production operator and then as VP for engineering. Kelly holds a bachelor’s degree in science, manufacturing, technology, and supply chain operations management from SUNY Empire State College and associate degrees in geospatial technology and mechanical engineering technology from MVCC. JEAN LEANDRE was appointed director of student engagement and leadership. Leandre will provide administrative oversight of the Student Activities office, including Student Government, and serve as the director of the CSTEP and STEP grants. KALYNN RIEDMAN was appointed admissions specialist. She will work with the director of admissions to develop and implement an admissions-recruitment plan that’s consistent with the college’s strategic plan and initiatives. Riedman will also be responsible for recruiting students by working with high-school counselors, adult learners, community agencies, and local businesses. ROBIN SAXE was named student support advisor. She will work as part of a team providing individual academic, career, financial, and related support to an assigned group of students. Saxe has been at MVCC since 2009 in several capacities, including director of Kids Summer Camp, assistant coordinator of Kiddie Campus, college services associate, and community resource specialist in the College-Community-Connection office. Previously, Saxe was the director of the School Age Program at St. Luke’s Nursing Home, a teacher in the Preschool Age Program at MVCC, and site director at the Neighborhood Center. She holds a bachelor’s degree in elementary education from SUNY Oneonta and an associate degree in fine arts from Munson-Williams-Proctor Arts Institute. ZACHARY STEFFEN was appointed to the grant-funded position of associate business advisor for the Small Business Development Center. He will support business advisors who provide advisement services to a variety of small businesses and entrepreneurs engaged in starting, managing, growing, or purchasing a business. Steffen’s prior positions include general manager for North Country Books and president of Pyramid Publishing, both based in Utica. He holds a bachelor’s degree in business administration and marketing from SUNY Albany. GAIL WARCHOL, previously associate director of human resources for benefits and labor relations, has been named professor. She will direct a variety of college human-resource processes and procedures regarding benefits and labor relations. Warchol has been with MVCC since 2011, first as a coordinator of health-care careers and then as academic project manager. Prior to these positions, she was a human-resources representative and hazard-analysis critical-control points coordinator at Delft Blue, and an outreach coordinator for government programs at Excellus BlueCross BlueShield. Warchol holds a master’s degree in information design and technology and bachelor’s degree in professional studies in health-service management, both from SUNY Polytechnic Institute. She also has an associate degree in human services from MVCC.
TRACEY BARONE has been named director of nursing for emergency services at Mohawk Valley Health System (MVHS). She has served as the St. Elizabeth campus trauma coordinator since October 2014. Barone previously served as the Emergency Department nurse manager, assistant nurse manager, and clinical educator. She has worked as a staff nurse in a variety
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TRACEY BARONE has been named director of nursing for emergency services at Mohawk Valley Health System (MVHS). She has served as the St. Elizabeth campus trauma coordinator since October 2014. Barone previously served as the Emergency Department nurse manager, assistant nurse manager, and clinical educator. She has worked as a staff nurse in a variety of settings including: the Emergency Department, Critical Care Unit, and Medical Surgical Unit. Barone has earned a bachelor’s degree in nursing from SUNY Plattsburgh and a master’s degree from SUNY Polytechnic Institute. Barone maintains certifications as a trauma nursing core course instructor, emergency nurse pediatric instructor, basic life support instructor, pediatric advanced life support instructor, and an advanced cardiac care instructor.
Scalzo, Zogby & Wittig, Inc., a Utica–based insurance agency, has appointed ZACHARY T. SCALZO as an account executive in its Sleepy Hollow office. He is a licensed property and casualty agent, offering auto, home, and business insurance. Scalzo previously worked in hospitality management in San Diego and New York. He is a graduate of SUNY
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Scalzo, Zogby & Wittig, Inc., a Utica–based insurance agency, has appointed ZACHARY T. SCALZO as an account executive in its Sleepy Hollow office. He is a licensed property and casualty agent, offering auto, home, and business insurance. Scalzo previously worked in hospitality management in San Diego and New York. He is a graduate of SUNY Oneonta.
SYDNEY PIRRECA, a Long Island native, has joined the Syracuse University women’s lacrosse coaching staff as an assistant coach. She graduated last spring from the University of Florida, where she was a star women’s lacrosse player for four years. Pirreca also gained some coaching experience by serving as a volunteer coach at Mount Sinai High
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SYDNEY PIRRECA, a Long Island native, has joined the Syracuse University women’s lacrosse coaching staff as an assistant coach. She graduated last spring from the University of Florida, where she was a star women’s lacrosse player for four years. Pirreca also gained some coaching experience by serving as a volunteer coach at Mount Sinai High School for three summers during her college years and was an assistant coach for the Long Island Elite Yellow Jackets club team in 2014.
Community Bank System to acquire Steuben Trust Corp. for $107 million
HORNELL — Community Bank System, Inc. (ticker: CBU), parent of Community Bank, N.A., on Oct. 21 announced it has agreed to acquire Steuben Trust Corporation (ticker: SBHO), parent company of Steuben Trust Company, in a stock and cash deal valued at $106.8 million. DeWitt–based Community Bank says the deal extends its reach in Western New
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HORNELL — Community Bank System, Inc. (ticker: CBU), parent of Community Bank, N.A., on Oct. 21 announced it has agreed to acquire Steuben Trust Corporation (ticker: SBHO), parent company of Steuben Trust Company, in a stock and cash deal valued at $106.8 million.
DeWitt–based Community Bank says the deal extends its reach in Western New York (WNY). Hornell–based Steuben Trust provides Community Bank, with improved scale in several more WNY markets, including Buffalo and Rochester, with total assets of nearly $580 million, deposits of $480 million, and 15 branch offices across a six-county area.
“Our acquisition of Steuben Trust will enhance and extend our banking footprint in Western New York, in markets which we successfully compete in and aspire to continue to grow,” Mark E. Tryniski, president and CEO of Community Bank System, said in a news release. “Our move to establish a broader and deeper banking presence in this region is reflective of these growth objectives. We are confident that the Steuben Trust franchise will further support our efforts to grow our retail and business banking presence in Western New York.
Steuben Trust has offices in the Southern Tier and WNY communities of Alfred, Andover, Arkport, Bath, Belmont, Bolivar, Canseraga, Canisteo, Clarence, Elma, Geneseo, Henrietta, Hornell, Warsaw, Wellsville, and Whitesville, according to its website.
Acquisition price details
Under the terms of the agreement, shareholders of Steuben Trust will receive, for each share of common stock they own, a combination of $12.60 cash and 0.8054 shares of Community Bank System common stock, for total consideration valued at about $63 per share, based on Community Bank System’s recent average price. The sale price is about 167 percent of Steuben Trust Corp.’s tangible book value as of June 30, 2019, the release stated.
The transaction is being arranged to qualify as a reorganization for federal income-tax purposes, which allows Steuben Trust shareholders to receive Community Bank System common stock tax-free, the banking companies said.
Upon completion of the acquisition, Community Bank System expects to have more than $12 billion in total assets. Community Bank expects the transaction to add about 8-9 cents per share to its first full year of GAAP earnings and 9-10 cents a share to its cash earnings, excluding one-time transaction costs.
The acquisition is expected to close in the second quarter of 2020 and is subject to customary closing conditions, including approval by the shareholders of Steuben Trust and required regulatory approvals.
D.A. Davidson & Co. Inc., a national financial-services and investment banking firm, was the financial advisor for Community Bank System and New York City–based law firm Cadwalader, Wickersham & Taft LLP acted as its legal advisor. PNC FIG Advisory was the financial advisor for Steuben Trust and Pillar Aught LLC served as its legal advisor.
KeyCorp net income declines in 3rd quarter
But, adjusted earnings per share beats the analysts’ estimates KeyCorp (NYSE: KEY) — parent of KeyBank, which ranks No. 2 in deposit market share in the 16-county Central New York region — reported that its net income from continuing operations fell to $383 million, or 38 cents a share, from $468 million, or 45 cents, in
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But, adjusted earnings per share beats the analysts’ estimates
KeyCorp (NYSE: KEY) — parent of KeyBank, which ranks No. 2 in deposit market share in the 16-county Central New York region — reported that its net income from continuing operations fell to $383 million, or 38 cents a share, from $468 million, or 45 cents, in the year-ago period.
Excluding a previously disclosed fraud loss of 10 cents a share, Key’s adjusted third-quarter earnings per share was 48 cents. That beat the consensus analyst estimate of 47 cents, according to Zacks Equity Research.
“Our results this quarter reflect positive revenue momentum and strong expense management that drove our cash efficiency ratio to its lowest level in over a decade,” Beth Mooney, KeyCorp chairman and CEO, said in the earnings report.
“We generated positive operating leverage compared to the prior year and previous quarter, supported by strong balance sheet growth, as well as continued momentum in our fee-based businesses, including record third quarter investment banking and debt placement fees. We produced another quarter of strong, broad-based growth in commercial and industrial loans and saw higher consumer loan balances…,” she added.
Key produced taxable-equivalent net interest income of $980 million in the third quarter, down from $993 million in the year-ago period. Lower net interest margin, driven by higher interest-bearing deposit costs, and lower loan fees led the decline.
Key’s noninterest income in the third quarter was $650 million, up from $609 million in the year-prior quarter. The increase resulted from growth in investment banking and debt-placement fees, as well as growth in corporate-services income, caused by higher derivatives income, according to the earnings report.
The Cleveland, Ohio–based banking company incurred noninterest expense of $939 million in the third quarter, down from $964 million in the year-earlier quarter. The decline reflected the successful implementation of Key’s expense-reduction initiatives and the elimination of the FDIC’s requirement that banks pay quarterly surcharges that cover some of the costs of insuring their customers’ deposits.
These expenses were partially offset by acquisition expenses associated with Key’s acquisition of Laurel Road Bank’s digital-lending business.
Key’s average loans were $92 billion in the third quarter, an increase of $3.5 billion compared to a year prior. Its commercial loans increased by $2.1 billion, reflecting broad-based growth in commercial and industrial loans, partially offset by declines in commercial mortgage and construction loans, the banking company said. Consumer loans increased $1.4 billion, “driven by solid growth from Laurel Road,” residential mortgage loans, and indirect auto lending. Home-equity loans declined by $927 million, largely the result of continued paydowns in home-equity lines of credit.
In the third quarter, Key realized a $123 million pre-tax loss related to a “previously disclosed fraud incident,” the earnings report stated. Excluding the fraud loss, Key’s provision for credit losses was $77 million in the third quarter, compared to $62 million in the third quarter of 2018.
Excluding the fraud loss, net loan charge-offs for the third quarter totaled $73 million, or 0.31 percent of average total loans. These results compare to $60 million, or 0.27 percent, for the third quarter of 2018.
KeyCorp, which says its roots trace back 190 years to Albany, has assets of more than $140 billion. KeyBank has more than 1,100 branches in 15 states. It operates several dozen branches in Central New York.
How Big Data is Shaping the Future of CNY’s Economy
Big data, artificial intelligence (AI), internet of things (IoT), and 5G are all transforming the business world — and they’re transforming the Central New York economy in the process. According to a survey by NewVantage Partners, 97.2 percent of C-level executives said their companies are investing in, building or launching big data and AI initiatives.
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Big data, artificial intelligence (AI), internet of things (IoT), and 5G are all transforming the business world — and they’re transforming the Central New York economy in the process. According to a survey by NewVantage Partners, 97.2 percent of C-level executives said their companies are investing in, building or launching big data and AI initiatives. Central New York businesses can capitalize on these changing business trends, and the local economic impact that accompanies them, but only if they can successfully leverage new technological advances while navigating the changing regional labor market.
Harnessing Big-Data Technologies
By embracing big data, large companies across the globe are discovering untapped potential in efficiency, customer experience, and profitability. Now it’s time for mid-size organizations in sectors like health care, social assistance, and retail trade — which account for more than one-fourth of the workforce in Central New York, according to Data USA — to follow suit. Here are some strategies for harnessing intelligent technologies to create a competitive advantage.
Improved business intelligence: Big data allows companies to compile millions of pieces of raw data that is then distilled into information that is useful for predictive, modeling, or scenario analysis. This gives companies unprecedented visibility and insights into work streams, capital cycles, and customer behavioral patterns, which helps them improve planning and forecasting models. Businesses can know when and how much to produce, allowing them to reduce inventory costs and consider future headwinds that may impact the bottom line.
Enhanced customer experience: Big data can help companies better serve their customers using insights gleaned from the customer’s actual actions and preferences. Big data has not only helped make customer service more proactive, but also has allowed companies across various industries to make responsive products and services. In health care, Central New York’s largest industry, a customer-enhanced experience can improve the health of a population by predicting potential health problems and organizing early medical interventions, such as a local flu outbreak.
Big Data and the Workforce
The emergence of big data has also opened doors for new talent opportunities and created a huge demand for a skilled workforce in Central New York. As stated by Data USA, the number of computation jobs in Central New York alone has grown by almost 25 percent since 2013. Governments and universities are working together to help prepare the workforce with the knowledge and skills needed to tackle today’s biggest challenges, and it’s time for companies to react as well.
Demand for skilled talent: While some skeptics of big data believe intelligent technology will eliminate jobs, others argue it creates new jobs for skilled workers. As big data and AI grow, data scientists and big-data experts have become the most highly coveted workers in the IT field. In Central New York, businesses’ need for software development and data manipulation has outpaced their traditional IT needs, like customer service and project management, as reported by the Development Center at Monroe College. With the area unemployment rate hovering at about 4 percent and a strong national economy providing a tailwind, companies are being challenged to win top-skilled talent for these roles. As a result, some companies are trying out non-traditional strategies such as paying for current employees to obtain a higher degree in the data-science field — something many now consider as important as an MBA.
Big data benefits HR: By embracing big data’s predictive and analytical nature, HR departments can make more informed decisions about recruiting, ultimately making better choices for the company. For example, employers can use big data to determine where to distribute resources and find employees with relevant skill sets.
It’s clear that big data and other intelligent technologies pose significant benefits, including competitive agility and consumer satisfaction, but companies must be mindful of potential challenges. To compete in today’s data-driven business landscape, Central New York companies should embrace new technologies to stay ahead of the pack, while taking steps to recruit and retain top-tier data-science talent.
Michael Brunner is Central New York market president for Bank of America.
AmeriCU begins operations in new Onondaga Hill location
ONONDAGA — AmeriCU Credit Union is now operating in its new Onondaga Hill branch at 4865 West Seneca Turnpike in the town of Onondaga. The new office started operations in that location in late September, says Ron Belle, chief experience officer at AmeriCU. The branch had previously operated at Onondaga Community College (OCC) for the
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ONONDAGA — AmeriCU Credit Union is now operating in its new Onondaga Hill branch at 4865 West Seneca Turnpike in the town of Onondaga.
The new office started operations in that location in late September, says Ron Belle, chief experience officer at AmeriCU. The branch had previously operated at Onondaga Community College (OCC) for the past seven years.
“We feel that this location really provides us an opportunity to expand our presence on Onondaga Hill,” he adds.
When the space became available, AmeriCU wanted to take advantage of it, figuring it could continue providing service to the OCC campus but from another location. It gives the credit union a “better option” for its other members who are not coming to campus on a regular basis.
“[The new] location really kind of checked all the boxes for us,” says Belle, who spoke with CNYBJ on Oct. 22.
AmeriCU leases the space, and Belle describes the new office as bigger with more office space and a larger conference room and “new and more” technology.
He declined to disclose both how much it cost AmeriCU to prepare the new space for operations and the general contractor that handled the construction work.
AmeriCU has five employees in the new Onondaga Hill branch, and more than 300 employees overall, according to Belle.
“We could not be more excited to be open for business in Onondaga Hill,” Kyle Halpin, manager of the new financial center, said in a news release about the new branch. “AmeriCU is in a better position to serve our members, to serve this community, and to build new and lasting relationships with local residents and businesses.”
AmeriCU formally opened its new Onondaga Hill financial center on Oct. 9 with a ribbon-cutting ceremony.
“We’re able to offer more services, more convenience, and more value for our members,” Nicholas Cray, VP of member relations and marketing, added in the release.
The nonprofit AmeriCU first opened in 1950 at Griffiss Air Force Base in Rome. With more than 136,000 members, AmeriCU now has 19 branches across Central and Northern New York.
Jefferson County hotel occupancy rate falls nearly 6 percent in September
WATERTOWN — Hotels in Jefferson County welcomed significantly fewer guests in September than in the year-ago month, according to a new report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 5.8 percent to 57 percent in September from 60.6 percent a year ago, according to STR, a
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WATERTOWN — Hotels in Jefferson County welcomed significantly fewer guests in September than in the year-ago month, according to a new report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 5.8 percent to 57 percent in September from 60.6 percent a year ago, according to STR, a Tennessee–based hotel market data and analytics company. That followed a 3.5 percent decrease in occupancy in August. Year to date, hotel occupancy in the county was down 0.7 percent to 54.8 percent.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, fell 4.9 percent to $57.77 in September from $60.83 in September 2018. Through the first nine months of the year, the county’s RevPar increased 2.7 percent to $56.46.
Average daily rate (or ADR), which represents the average rental rate for a sold room, gained 1 percent to $101.32 in September from $100.31 a year prior. Year to date, Jefferson County’s ADR was up 3.5 percent to $103.06.
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