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Acumen Detection, a provider of rapid, on-farm pathogen identification systems for dairy farmers, has hired COURTNEY MANLEY as marketing coordinator. She started working at Acumen Detection as an intern nearly two years ago and gradually became a marketing specialist, expanding her knowledge in customer segmentation and relationship management systems. Manley recently received her bachelor’s degree […]
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Acumen Detection, a provider of rapid, on-farm pathogen identification systems for dairy farmers, has hired COURTNEY MANLEY as marketing coordinator. She started working at Acumen Detection as an intern nearly two years ago and gradually became a marketing specialist, expanding her knowledge in customer segmentation and relationship management systems. Manley recently received her bachelor’s degree in marketing and business analytics from Le Moyne College.
Community Bank, N.A. has promoted JAMES VEDORA to commercial team leader in Geneva. He has nearly two decades of experience in commercial lending. Vedora has been with Community Bank since June 2003, when he joined as a commercial banker. He previously spent time with National Bank of Geneva as commercial banker and credit analyst. Vedora
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Community Bank, N.A. has promoted JAMES VEDORA to commercial team leader in Geneva. He has nearly two decades of experience in commercial lending. Vedora has been with Community Bank since June 2003, when he joined as a commercial banker. He previously spent time with National Bank of Geneva as commercial banker and credit analyst. Vedora earned his bachelor’s degree from Hobart & William Smith Colleges.
Whelan & Curry Construction Services, Inc.
Whelan & Curry Construction Services, Inc. announced that DEBBIE GUNTHER has joined the firm as office manager. She has more than 10 years of experience in construction as a project assistant and construction office management. SEAN PECK comes to Whelan & Curry as an experienced project manager with both a commercial and residential background. He
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Whelan & Curry Construction Services, Inc. announced that DEBBIE GUNTHER has joined the firm as office manager. She has more than 10 years of experience in construction as a project assistant and construction office management. SEAN PECK comes to Whelan & Curry as an experienced project manager with both a commercial and residential background. He is a LEED green associate with experience in project engineering and drafting. CONNOR BERTRAND joined Whelan & Curry as new superintendent. He has a background in residential restoration projects and has several years of experience as a superintendent on commercial projects across the nation. Bertrand is also a veteran.
CenterState CEO has hired SARAH DAVIS as its program coordinator for the GENIUS NY program run from its Tech Garden. She most recently worked for New York State Assemblyman Al Stirpe, providing constituent services from his North Syracuse office. Davis brings experience in event planning, communications, and government relations to her new role. She holds
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CenterState CEO has hired SARAH DAVIS as its program coordinator for the GENIUS NY program run from its Tech Garden. She most recently worked for New York State Assemblyman Al Stirpe, providing constituent services from his North Syracuse office. Davis brings experience in event planning, communications, and government relations to her new role. She holds a master’s degree in public administration from the Maxwell School of Citizenship and Public Affairs at Syracuse University and also earned dual bachelor’s degrees in English and Francophone studies from St. Lawrence University.
BENJAMIN SALTZMAN has joined Strategic Financial Services, Inc. as a financial-planning specialist. Before joining Strategic, Saltzman was an associate financial planner for NBT Bank in Utica. He has a bachelor’s degree in management from Siena College and is currently working to become a certified financial planner.
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BENJAMIN SALTZMAN has joined Strategic Financial Services, Inc. as a financial-planning specialist. Before joining Strategic, Saltzman was an associate financial planner for NBT Bank in Utica. He has a bachelor’s degree in management from Siena College and is currently working to become a certified financial planner.
Excellus BlueCross BlueShield has named c as the company’s senior VP and corporate medical director. A primary care physician and lifelong resident of Rochester, he is board-certified by the American Board of Internal Medicine and the Certifying Commission in Medical Management. Cohen has served as a medical director at Excellus BlueCross BlueShield, as well as the
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Excellus BlueCross BlueShield has named c as the company’s senior VP and corporate medical director. A primary care physician and lifelong resident of Rochester, he is board-certified by the American Board of Internal Medicine and the Certifying Commission in Medical Management. Cohen has served as a medical director at Excellus BlueCross BlueShield, as well as the president of Lifetime Care Home Health Care and Hospice and Lifetime Health Medical Group. He served as corporate VP for medical affairs at MVP Health Care from 2006 to 2012. Cohen has also served as the lab and medical director for Ignitehealth Wellness Management Services and medical director for Relph Benefit Advisors. After graduating from Albany Medical College, he completed his residency in primary care internal medicine at the University of Rochester Medical Center, and held a leadership role at the University of Rochester Center for Primary Care.
Barclay Damon has hired DAVID FULVIO, associate, to work from the firm’s Syracuse office. He is a member of the torts & products liability defense and professional liability practice areas. Prior to joining Barclay Damon, he was an associate at Villani & Grow. Fulvio graduated from the Boston University School of Law.
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Barclay Damon has hired DAVID FULVIO, associate, to work from the firm’s Syracuse office. He is a member of the torts & products liability defense and professional liability practice areas. Prior to joining Barclay Damon, he was an associate at Villani & Grow. Fulvio graduated from the Boston University School of Law.
Smith Sovik Kendrick & Sugnet has added two attorneys to the firm’s Syracuse office: THOMAS J. DEBERNARDIS and ANNIE M. MILLAR. DeBernardis is a 2018 graduate of Syracuse University College of Law. He was a member of the American Association for Justice Trial Team that won the Northeast Regional Championship in 2017 and 2018. DeBernardis
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Smith Sovik Kendrick & Sugnet has added two attorneys to the firm’s Syracuse office: THOMAS J. DEBERNARDIS and ANNIE M. MILLAR. DeBernardis is a 2018 graduate of Syracuse University College of Law. He was a member of the American Association for Justice Trial Team that won the Northeast Regional Championship in 2017 and 2018. DeBernardis received CALI awards for the highest overall performance in appellate advocacy, and for his work as a law clerk in the Onondaga County District Attorney’s Office.
Millar graduated from Hartwick College and the Syracuse University College of Law. where she received the College of Law’s Robert W. Miller Award for excellence in trial advocacy and the CALI Award for highest overall performance in trial practice.
CoveyCS, a software consulting and development firm, has promoted LEA WEIR to director of sales and marketing from her prior position of marketing manager. Weir joined CoveyCS about two years ago as the company took steps to boost its B2B marketing and sales efforts. She began her career in graphic design, web design, and digital-media
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CoveyCS, a software consulting and development firm, has promoted LEA WEIR to director of sales and marketing from her prior position of marketing manager. Weir joined CoveyCS about two years ago as the company took steps to boost its B2B marketing and sales efforts. She began her career in graphic design, web design, and digital-media marketing management.

Community Bank boosts bet on Albany with Kinderhook deal
DeWITT — Community Bank System, Inc. (NYSE: CBU) opened a business banking office in Albany in 2018 and had a big first year, according to Mark E. Tryniski, president and CEO of the DeWitt–based banking company. Now, Community Bank is making a bigger investment in the Capital District market by forging an agreement to acquire
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DeWITT — Community Bank System, Inc. (NYSE: CBU) opened a business banking office in Albany in 2018 and had a big first year, according to Mark E. Tryniski, president and CEO of the DeWitt–based banking company.
Now, Community Bank is making a bigger investment in the Capital District market by forging an agreement to acquire Kinderhook Bank Corp., parent company of National Union Bank of Kinderhook, for more than $93 million in cash.
Kinderhook Bank, which was founded in 1853, brings Community Bank 11 branches across the counties of Albany (3), Columbia (5), Fulton (1), Montgomery (2), and Rensselaer (1). It has total assets of nearly $640 million and deposits of $560 million.
Community Bank System currently has $10.6 billion in assets and more than 230 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its main banking unit, Community Bank, N.A. But it’s not a significant player in Albany yet, and the Kinderhook acquisition seeks to start to change that.
“We believe that Kinderhook franchise fills a hole in our geography and significantly augments our presence in the Greater Capital District region of New York,” Joseph E. Sutaris, executive VP and CFO of Community Bank System, said in a Jan. 23 conference call, discussing the deal with analysts and investors.
More than half of Kinderhook Bank’s $491 million loan portfolio consists of commercial real-estate loans, according to Sutaris.
Community Bank finds the Albany region’s characteristics to be attractive as it seeks to boost its growth.
“Our move to establish a broader and deeper banking presence in this region reflects the relative economic, demographic and geographic attractiveness of the area, Tryniski said in a Jan. 22 release announcing the acquisition.
“The geography in which Kinderhook operates is contiguous to our current geography, but provides better banking opportunities from a demographic perspective than most regions within our existing footprint,” Sutaris added on the call.
Acquisition details
Under the terms of the agreement, shareholders of Kinderhook Bank Corp. (ticker: NUBK) will receive $62 in cash for each share of Kinderhook they own. This price, assuming full conversion of preferred equity, is 193 percent above (or nearly triple) Kinderhook Bank Corp.’s tangible book value as of Sept. 30, 2018, per the release.
The acquisition is expected to close in the second quarter of this year and is subject to typical closing conditions, including approval by the shareholders of Kinderhook Bank Corp. and required regulatory approvals. The transaction was unanimously approved by the boards of directors of both banking companies.
Upon completion of the acquisition, Community Bank System says it will have about $11.3 billion in assets, $6.8 billion in total loans, and $8.9 billion in deposits. It expects the deal to add about 7 to 8 cents to its first full year of earnings per share, and add 9 to 10 cents a share to its cash earnings, excluding any one-time transaction costs.
“So the Kinderhook transaction … is geographically and strategically very sound for us. It’s not a large transaction, but it’s a solid strategic transaction. And I think the economic benefit in terms of the accretion and cash flow generation per share is pretty good for a transaction this size for us,” Tryniski said on the conference call.
Community Bank earnings
Community Bank System on Jan. 23 also announced its earnings for the fourth quarter of 2018. The banking company reported net income of $40.8 million, or 78 cents a share, in the fourth quarter. That’s down from $72 million in net income, or $1.40 a share, in the year-ago period. The fourth-quarter 2017 results included a $38 million, or 74 cents per share, one-time gain from the revaluation of net-deferred tax liabilities related to the passage of the Tax Cuts and Jobs Act in December 2017. Excluding that one-time tax benefit and acquisition expenses, Community Bank System’s fourth-quarter 2018 operating earnings per share was more than 16 percent higher than the year-earlier period.
Community Bank’s total revenue for the fourth quarter of 2018 was $141.6 million, up 1.2 percent from the fourth quarter of 2017.
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