Oneida Indian Nation quantifies its 2023 economic impact

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VERONA — The Oneida Indian Nation increased regional vendor spending by 25 percent, grew capital investments by 23 percent, and increased payroll spending by 18 percent in 2023. That’s all before it even begins a multimillion project to expand Turning Stone Resort Casino later this year, according to a news release from the Oneida Indian […]

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VERONA — The Oneida Indian Nation increased regional vendor spending by 25 percent, grew capital investments by 23 percent, and increased payroll spending by 18 percent in 2023.

That’s all before it even begins a multimillion project to expand Turning Stone Resort Casino later this year, according to a news release from the Oneida Indian Nation.

“Constant reinvestment and strong partnerships have been the foundations to our success,” Oneida Indian Nation Representative and Turning Stone Enterprises CEO Ray Halbritter said in the release. “With the evolution of Turning Stone Resort Casino ahead, we are excited to continue growing these investments and partnerships for the benefit of the Oneida people, our workforce, and the region as a whole.”

Spending with 792 vendors in Oneida, Madison, and Onondaga counties increased by $28.4 million to
$142.5 million for 2023, while the nation increased investments in capital projects by $18.5 million for a total of $100.3 million last year.

During the year, the nation expanded its offerings at Turning Stone with the creation of NY Rec & Social Club, opened its fourth and largest Maple Leaf Market convenience store, updated Turning Stone’s conference and event spaces with new technology and décor, and opened the first dispensary for its Verona Collective seed-to-sale cannabis operation.

Joel Barkin

“We’re building new dispensaries, this massive community center, the evolution (of Turning Stone). It’s a lot of growth, a lot of development, and it’s putting a lot of people to work,” Joel Barkin, VP of communications, tells The Central New York Business Journal.

The Oneida Indian Nation increased payroll spending by $34.4 million in 2023 to a total of $220.7 million.

“We’ve added jobs in lots of different areas and also increased starting wages in a number of areas,” Barkin says.

It has also invested in its team with the opening of TS Marketplace, an employee-only dining venue at Turning Stone and the creation of new job opportunities at Verona Collective and NY Rec & Social Club.

“The Oneida Indian Nation has shown time and again that it is a committed partner in the economic success of Central New York,” CenterState CEO President Robert Simpson said in the release. “Its investments play a pivotal role in supporting existing businesses and providing new opportunities for the next generation of entrepreneurs.”

Later this year, the Oneida Indian Nation will break ground on its Turning Stone expansion project. It is expected to generate a one-time economic impact of more than $600 million, create 3,600 one-time jobs, and generate more than $22 million in state and local tax revenues. The project will also expand the Nation’s spending with local vendors and accelerate the growth of its workforce.

“The evolution of Turning Stone Resort Casino will dramatically expand these already historic investments and create a new level of opportunity with more good paying jobs in the trades for workers throughout the region,” Central/Northern Building Trades President Greg Lancette said.

The evolution project will double existing event space, and add a hotel, new restaurants, outdoor spaces, and other amenities across the property, making Turning Stone the largest convention center in upstate New York.

“When the Oneida Indian Nation invests in its enterprises, they are also investing in the success of the Mohawk Valley,” Steve DiMeo, Mohawk Valley EDGE president, said. “These continued investments have had a transformational effect on economic development throughout the region, supporting local businesses, creating new jobs, and growing tourism. With the coming evolution of Turning Stone Resort Casino, this impact is poised for exponential future growth.”

The Oneida Indian Nation’s enterprises include Turning Stone Resort Casino, YBR Casino & Sports Book, Point Place Casino, The Lake House at Sylvan Beach, The Cove at Sylvan Beach, Maple Leaf Markets, SavOn Convenience stores, an RV park, and marinas. Combined, they employ more than 4,500 people.

Naturally Lewis offers more than $900K in grant funding in 2024

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LOWVILLE — Naturally Lewis says $930,000 is available in the second round of its four grant programs. Naturally Lewis is the economic-development agency for Lewis County. The grant funds are for the Small Things, Big Impacts Fund; Community Connections Fund; Building Business Fund; and Vacant Property Revitalization Fund, according to a Naturally Lewis news release.

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LOWVILLE — Naturally Lewis says $930,000 is available in the second round of its four grant programs.

Naturally Lewis is the economic-development agency for Lewis County.

The grant funds are for the Small Things, Big Impacts Fund; Community Connections Fund; Building Business Fund; and Vacant Property Revitalization Fund, according to a Naturally Lewis news release.

The Community Economic Development Program committee will review applications for all programs. The committee includes six community leaders and one member of the Lewis County Development Corporation Board.

Those interested can find more information about the Community Economic Development Program and each of the grant opportunities at the following website: https://naturallylewis.com/growing-opportunities/cedf.

About the funds

The Small Things, Big Impacts Fund, which has $26,000 available, will support smaller-scale projects that will “make a big impact.” The 2024 priority for this fund is visibility, “including, but not limited to,” signage, branding, packaging, murals/artwork, and mobile visibility. Applications for the Small Things, Big Impacts Fund opened Jan. 15 and close on March 28.

Naturally Lewis says it will review applications on a quarterly basis until all funds are dispersed.

The Community Connections Fund, which has $60,000, will support municipalities, schools, and 501 (c)(3) nonprofit organizations in projects that will “strengthen ties within the community” to develop relationships, and to spur economic growth and development through the creation and enhancement of public gathering places or services. Applications for the Community Connections Fund will open on April 1 and close on June 13, Naturally Lewis said.

The Building Business Fund, which has $100,000, will support local businesses providing matching funds to invest in the “tools to scale up and grow.” Recipients can use funds for literal tools (equipment/machinery) or figurative tools (business services/professional services) to assist business growth. Projects must show “overall benefit to the community and promote economic development through business growth,” Naturally Lewis said.

Applications for the Building Business Fund will open on July 1 and close on Sept. 26.

The Vacant Property Revitalization Fund, which has $750,000, will support building owners who are looking to revitalize vacant buildings or floors into usable spaces for commercial use.

Applications for the Vacant Property Revitalization Fund will open on Sept. 30 and close on Dec. 5.

New CEO to start soon at Tops, Price Chopper parent company

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Prior CEO, Curci, is retiring SCHENECTADY — The CEO of Northeast Grocery, Inc. (NGI), the parent company of Price Chopper/Market 32 and Tops Friendly Markets is getting set to retire and NGI is ready to move forward with a new top executive. NGI’s board of directors on Jan. 22 announced the upcoming retirement of CEO

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Prior CEO, Curci, is retiring

SCHENECTADY — The CEO of Northeast Grocery, Inc. (NGI), the parent company of Price Chopper/Market 32 and Tops Friendly Markets is getting set to retire and NGI is ready to move forward with a new top executive.

NGI’s board of directors on Jan. 22 announced the upcoming retirement of CEO Frank Curci, along with its selection of John Persons, NGI’s COO, as Curci’s successor.

Persons, who NGI describes as a 40-year industry veteran, will assume the role of CEO, effective Feb. 26.

He has served as NGI’s COO since June 2023, overseeing both the Price Chopper/Market 32 and Tops Markets operating companies, as well as Northeast Shared Services’ merchandising and marketing functions.

The overall announcement is “part of the company’s strategic succession plan,” and the board selected Persons “following an internal and external search,” NGI said.

“The 43 years I have spent in this business have been challenging and rewarding beyond measure and, without a doubt, the recent years spent planning and then bringing NGI to life have been some of the most gratifying,” Curci said in a news release. “I’m delighted that John has been chosen to succeed me. He has been instrumental in our merger success to date, providing the necessary leadership over these past few years to position NGI for success. While John’s strategic mindset is poised to lead our multifaceted business day to day, he also possesses great vision for our path forward.”

NGI says one of Curci’s accomplishments as NGI’s CEO has been to develop a team of seasoned executives across Tops, Price Chopper/Market 32, and Northeast Shared Services (a subsidiary of NGI providing services to both operating companies). That team is “capable of providing experienced leadership and fueling” the internal succession plan. That plan ultimately led to the selection of Persons to succeed Curci, NGI said.

“I am thrilled to lead NGI forward in collaboration with the talented teammates and associates at Northeast Shared Services, Price Chopper/Market 32 and Tops who are dedicated to nourishing the communities we serve,” Persons said in the release. “On behalf of all 30,000 of us, I’d like to express gratitude to Frank Curci for his leadership and mentorship over the years and reiterate my commitment to build on the momentum and success that he has fostered.”

Persons started as a cashier at Tops and rose to the office of the president. He has spent his entire career with the Williamsville–based grocery chain and now NGI. During his tenure at Tops, he had oversight for various functions, including operations, merchandising, sales and marketing, real estate, information technology, and organizational strategy, all leading to his appointment as president in 2015, NGI said.

Solvay Bank sets sights on growth in the Mohawk Valley

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SOLVAY — After more than 106 years of serving Central New York, Onondaga County–based Solvay Bank is pushing its reach further with its sights set on the Mohawk Valley. In late December, the banking company announced its commercial expansion into the Mohawk Valley and the hiring of Matt Nicholl as VP, commercial-loan officer, to serve

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SOLVAY — After more than 106 years of serving Central New York, Onondaga County–based Solvay Bank is pushing its reach further with its sights set on the Mohawk Valley.

In late December, the banking company announced its commercial expansion into the Mohawk Valley and the hiring of Matt Nicholl as VP, commercial-loan officer, to serve the region.

Solvay Bank President/CEO Paul Mello says the demographics of the Mohawk Valley region, including the small-business climate, are similar to Onondaga County and appealing to the bank.

“When we looked at the Mohawk Valley, we felt like it was the perfect complement,” he says. Solvay Bank already has some commercial accounts in the area, making it a natural fit.

And while there are a “lot of fine banks” that already serve the Utica–Rome region, Mello says he believes the market is big enough to support them all.

With all the growth along the tech corridor, the area is seeing growth at all levels, he notes. “That’s what excited us.”

Solvay Bank’s initial focus is to serve the Mohawk Valley’s small businesses.

The bank offers a full array of banking services for small businesses including deposits, loans, lines, commercial real estate, ACH capture, and more.

Solvay Bank can tailor those services to what a business customer needs, Nicholl notes.

He has hit the ground running in his new role, working in the community to establish new relationships and “just getting the Solvay Bank name out there and getting people used to hearing it,” he says.

Along with more than 20 years of banking experience, Nicholl has ties to the community that made him the ideal choice to lead Solvay Bank’s expansion into the Mohawk Valley area, Mello contends.

“We wanted to find someone who lives and breathes the Mohawk Valley,” he says.

Nicholl is active in the community, serving on the boards of Mohawk Valley EDGE and the United Way of the Mohawk Valley. He’s also making sure the bank is actively involved with the Greater Utica Chamber of Commerce, including sponsoring the chamber’s ribbon cuttings.

Solvay Bank offers local lending with local decision making, Nicholl notes. “It allows us to understand what the customers’ needs are. I think that’s what I’m most excited about.”

Nicholl looks around at what’s happening in the area, such as the ongoing development of Harbor Point in Utica and is enthusiastic about those opportunities. “There’s a constant change going on in the market,” he says. Being local will help him stay on top of those changes and the needs of the market.

Nicholl isn’t the only one excited about Solvay Bank’s opportunities in the Mohawk Valley. “Our whole senior management team is committed to the success in the Mohawk Valley region,” VP, Commercial Banking Manager Renee Dellas says. The whole organization not only supports Nicholl, but also many senior bank leaders plan to be frequent visitors to the area.

There are no immediate plans to open a brick-and-mortar retail branch in Mohawk Valley, but technology allows the bank to connect with customers even if they don’t live near a branch, Mello notes.

“As the market demands, we will scale up,” he adds.

Solvay Bank, founded in 1917, has nine branches located in Solvay, Baldwinsville, Camillus, Cicero, DeWitt, Liverpool, North Syracuse, Westvale, and downtown Syracuse. It also operates Insurance Agency, Inc., a full-service general insurance agency.

Student-run bank deepens Tioga State Bank’s community connections

Banks & Credit Unions, Health Care, Subscriber Only

SPENCER — Tioga State Bank’s (TSB) new student-run branch at Spencer-Van Etten High School in northwestern Tioga County does more than provide a convenient place for students, faculty, and staff to bank. It deepens the bank’s connection with the community it has served for 160 years and provides an opportunity for TSB to offer even

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It deepens the bank’s connection with the community it has served for 160 years and provides an opportunity for TSB to offer even more financial-literacy education to students.

The branch, located in its own space just off the main library of the high school, formally opened on Jan. 12. Jenna Gillette, a universal banker in TSB’s Spencer office, oversees the in-school branch. It’s open Tuesdays and Fridays from 9 a.m. to noon on days the school is open. Students Kaili Root and Jacqueline Brown staff the office.

“They actually handle all the transactions that come in through the school,” Gillette says of the student employees. The students can manage basic banking operations including deposits, check cashing, and balance inquiries. Both were trained just like any other TSB employee, Gillette added.

Spencer-Van Etten High School approached TSB about having a branch, Susan Allen, TSB’s senior VP of retail banking, says. Principal Melissa Jewell asked about a school-based branch around last August, Allen says, and they began looking into the idea.

TSB had to reach out to state regulators for approval. “We had a few technological things we had to make sure would work,” she adds. “We had to make sure we could to that safely and securely.”

Once the bank knew it would work, it was full steam ahead. School officials suggested students they felt would be a good fit to staff the branch.

“We are a community bank, so we were excited to be able to offer an additional channel,” Allen says. TSB has educated students on the basics like how to write a check or track balances for years, she says. Having the branch in the school allows for more education and even peer-to-peer education as students learn from those who operate the branch.

The partnership goes beyond just banking, Allen adds. TSB is collaborating with the school’s art department on a contest for a co-branded logo for the branch, and students interviewed Gillette about the branch for an article in the school paper.

“The school has been a fantastic partner,” Allen says.

The new in-school branch has also proven a plus for faculty and staff at the school, Gillette notes. “It’s very convenient for them,” she says. This is especially true for those that oversee school clubs and groups that have accounts, making it easy for them to deposit funds or obtain petty cash, for example, she adds.

The branch has been only open a few times as of press time, but Gillette is hopeful that as the weeks go by, students will check out the branch and, hopefully, become account holders.

Headquartered in Spencer, Tioga State Bank has $547 million in assets and more than 100 employees. The bank operates 11 branches in Binghamton (2), Candor, Endwell, Newfield, Owego (2), Spencer, Van Etten, Vestal, and Waverly.

Visions FCU’s financial-readiness center opens at Syracuse University

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Aims to help veteran, military-connected community SYRACUSE — Visions Federal Credit Union (FCU) says its financial-readiness center at Syracuse University’s National Veterans Resource Center (NVRC) seeks to provide “support and guidance” for the university’s veteran and military-connected community. The resource for student veterans and military families is made possible by the collaboration between

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Aims to help veteran, military-connected community

SYRACUSE — Visions Federal Credit Union (FCU) says its financial-readiness center at Syracuse University’s National Veterans Resource Center (NVRC) seeks to provide “support and guidance” for the university’s veteran and military-connected community.

The resource for student veterans and military families is made possible by the collaboration between Visions FCU and Syracuse University’s Office of Veteran and Military Affairs (OVMA), Visions said in its announcement.

Financial-readiness modules, online resources, and an event calendar will help in “navigating financial challenges and achieving long-term economic stability in a convenient and interactive way.”

Visions FCU on Jan. 12 formally opened its financial-readiness kiosk area at Syracuse University’s NVRC at the Daniel & Gayle D’Aniello Building on campus.

Speakers at the event included J. Michael Haynie, Syracuse University’s vice chancellor for strategic initiatives and innovation; U.S. Army Colonel (Ret.) Ron Novack, executive director of the Syracuse University’s Office of Military and Veterans Affairs; and Tim Strong, director of branding and public relations at Visions FCU.

The Visions FCU financial-readiness kiosk area is one component of the Visions Student Veteran Success Program, the credit union said.

Visions FCU and OVMA announced the launch of the Visions Student Veteran Success Program at the Veteran and Military-Connected Student Orientation in the fall of 2022.

The program provides new academic resources and professional-advancement services to the military-connected community at Syracuse University and is open to all enrolled student veterans and their families, the credit union noted.

Established in 1966, Endwell–based Visions FCU serves more than 250,000 members in communities throughout New York, New Jersey, and Pennsylvania. Services include banking as well as auto, home, personal, and business loans, the credit union said.

Generations Bank, FHLBNY grants help five area nonprofits

Banks & Credit Unions, Nonprofits, Subscriber Only

SENECA FALLS — Five nonprofit organizations in Union Springs are using grant funding from Seneca Falls–based Generations Bank. The bank announced it secured $50,000 in grant money from the Federal Home Loan Bank of New York (FHLBNY). The five grant recipients are the Springport Free Library, Frontenac Historical Society, Western Cayuga County Food Pantry, Union

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SENECA FALLS — Five nonprofit organizations in Union Springs are using grant funding from Seneca Falls–based Generations Bank.

The bank announced it secured $50,000 in grant money from the Federal Home Loan Bank of New York (FHLBNY).

The five grant recipients are the Springport Free Library, Frontenac Historical Society, Western Cayuga County Food Pantry, Union Springs Volunteer Fire Department, and the Finger Lakes Region Lions Hearing Foundation.

AG Cutrona, senior VP – chief banking officer at Generations Bank, applied for the FHLBNY grant on behalf of the nonprofits.

“Generations is committed to giving back to the communities that we serve,” Cutrona said in a news release. “We are grateful to the local not-for-profit organizations that work so hard to give back to the Union Springs Community. These grants will have a lasting impact on the organizations receiving the funding and get them off to a positive start to the New Year.”

Tom Settino, VP of member relations at FHLBNY, had made Cutrona aware of the funding and application process, Generations Bank noted. Union Springs Mayor Robert Thurston, Jr. also provided “direction, support, and responsiveness” during the grant process.

“I can’t thank the team at Generations Bank enough for all their hard work to make this grant a dream come true for our community,” Thurston said in the Generations Bank release. “The funding that we were able to secure together will provide a huge relief to our community not-for-profits that work so hard every day to take care of our community. We look forward to working with Generations Bank in the future to help our community grow and prosper.”

Using the grant funding

The Springport Free Library will use its funding to improve its young child reading program area with new materials, area remodeling, and new furniture, Generations Bank said.

The Frontenac Historical Society recently had to pay for a major boiler replacement. Its grant funding will help offset the purchase of the new boiler.

The Western Cayuga County Food Pantry will use its grant to purchase food and paper products for families and the elderly who are dealing with “food insecurity.”

The funding for the Union Springs Volunteer Fire Department will offset its recent purchase of a new emergency tracked utility terrain vehicle (UTV) that will help the department respond to emergencies in remote areas.

The Finger Lakes Region Lions Hearing Foundation, established in 1985, collects used hearing aids to refurbish and give to hearing impaired individuals in need. They will use the grant money to work on the hearing aids.

About the institutions

Founded in 1870 and headquartered in Seneca Falls, Generations Bank operates retail branches in Seneca Falls, Auburn, Union Springs, Waterloo, Geneva, Phelps, Farmington, and Medina.

Besides business and consumer deposit services, Generations offers residential mortgages, along with manufactured home, automobile, home equity, commercial, non-residential real estate, and construction loans.

The FHLBNY helps community lenders advance housing and community growth in New York, New Jersey, Puerto Rico and the U.S. Virgin Islands.

The FHLBNY is part of the congressionally chartered, nationwide Federal Home Loan Bank System and increases the availability of mortgages and home finance to families of all income levels by assisting members in more effectively serving their neighborhoods and meeting their Community Reinvestment Act responsibilities.

Fulmer begins duties as new SECNY FCU top executive

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Transition period with former CEO Bobesky continues ONONDAGA — SECNY Federal Credit Union (FCU) has a new CEO who is working with the

OPINION: Bashing China is easy but not always helpful to us

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Here’s one thing we can count on in the upcoming election year: American politicians will find ways to criticize China, even if they’re running for jobs that have little to do with U.S. foreign policy. China-bashing is a tried-and-true way to appeal for votes. It’s politically safe: China has few defenders anywhere in the United

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China-bashing is a tried-and-true way to appeal for votes. It’s politically safe: China has few defenders anywhere in the United States. Politicians can take shots at China without worrying that they will offend anyone or lose support. And, certainly, China often deserves criticism.

But there is a downside to reflexive anti-China rhetoric. With the world’s second-largest population and its second-largest economy, China is a force in world affairs. We need to push back when it threatens our interests, but we also need to engage with China when appropriate.

It’s understandable that China would be a target for attacks. We live in a bipolar world, with the U.S. and China competing for global influence. Under President Xi Jinping, China has positioned itself as our chief rival. And China’s actions often call for pushback. It engages in unfair trade practices, disregards intellectual-property rules and tramples on human rights. The nation has been accused of genocide against the Uyghur population in its Xinjiang province. It also threatens Taiwan and antagonizes its neighbors over the South China Sea.

To many Americans, China can seem foreign and far away. Its people look different and speak different languages. Its autocratic system of government is very different from our democratic system. A recent Pew Research Center survey found half of Americans consider China to be the biggest threat we face; that’s three times as many as view Russia as our biggest threat. In another survey, more than 80 percent of Americans had negative views of China.

Some of China’s actions do call for strong responses. We should expect candidates for relevant government offices to adopt clear positions toward China. But China-bashing can go too far. In Indiana, where I live, one candidate for governor has made “combating China” a centerpiece of his campaign. He and his rivals say they will confront China over fentanyl imports, online theft of personal information, and other matters. The next governor of Indiana will have a lot of important issues to address, but getting tough with China won’t be high on the list.

Demonizing China also has a long and sometimes ugly history in the U.S. Chinese immigrants in the 1800s did hard and dangerous jobs, working in mines and building railroads, but faced discrimination in housing, employment, and education. Anti-Chinese bias led Congress to pass the Chinese Exclusion Act of 1882, barring further Chinese immigration. Sensationalistic newspapers fanned fears of a “Yellow Peril” that threatened native-born Americans. A 1924 law further restricted Asian immigration.

Some of those old prejudices can resurface today. One recent poll found that voters linked politicians’ anti-Chinese rhetoric to a spike in violence against Asian-Americans. With election campaigns getting underway, some experts predict a rise in hate incidents.

At the end of the day, U.S. officials will have to lay aside the rhetoric and engage with China. That means standing firm when China threatens our interests and those of our allies, but it also means finding ways to work together. We can, and should, cooperate on addressing climate change, combating terrorism, deterring drug smuggling, promoting free and fair trade, and other issues.

Lee Hamilton, 92, is a senior advisor for the Indiana University (IU) Center on Representative Government, distinguished scholar at the IU Hamilton Lugar School of Global and International Studies, and professor of practice at the IU O’Neill School of Public and Environmental Affairs. Hamilton, a Democrat, was a member of the U.S. House of Representatives for 34 years (1965-1999), representing a district in south-central Indiana.

Watt reflects on time at NBT as he prepares for retirement

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NORWICH — While the Jan. 22 announcement that NBT Bancorp, Inc. (NASDAQ: NBTB) President/CEO John H. Watt, Jr. will retire this coming May might have caught some by surprise, it’s a decision Watt says he reached last year. What spurred the decision? “The bench!” he tells The Central New York Business Journal. “The strength of

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What spurred the decision?

“The bench!” he tells The Central New York Business Journal. “The strength of the individuals on the team.”

The team he’s referring to are CFO Scott A. Kingsley, who will step into NBT’s president and CEO role on May 21 when Watt officially retires; Chief Accounting Officer Annette L. Burns, who will become CFO; and President of Retail Community Banking and Chief Information Officer Joseph R. Stagliano, who will become president of NBT Bank, N.A.

All of them are hardworking and exceedingly competent, Watt says. “Recognizing that, how could I not step aside and provide them opportunity?” he posits.

Part of being a good steward of a public company is not just training new leaders, but also providing the opportunity for them to lead, Watt says. The failure to do so could drive those leaders to look elsewhere for those opportunities.

Watt approached the board of directors with his plans to retire last year, and the board undertook a 10-month process to draft and approve a succession plan.

“I had a good run, no doubt about it,” Watt says of his time at the helm. He will spend the time between now and May ensuring a smooth transition to the new leadership team. “My job after that will be to get out of their way,” he says.

With his retirement, Watt won’t completely be stepping away from NBT, which he has led as president and CEO since 2016.

Watt is most proud of the team at NBT, especially with their efforts during the pandemic. The way that the entire team came together during that time to help the communities NBT serves, including initiating more than $800 million in Paycheck Protection Program loans, is nothing short of incredible, he notes. “I’m very proud of how the team came together.”

Another highlight is last year’s acquisition of Salisbury Bancorp, which expanded NBT’s footprint and number of employees.

NBT grew from about $8 billion in assets to nearly $14 billion during his tenure. “We needed to drive growth, and we did,” Watt recalls.

He’s also proud that the company’s C-suite includes six female executive VPs, something that isn’t common in the industry. They are true leaders that are harder working and smarter than him, Watt notes.

Watt doesn’t plan to spend his retirement days relaxing. Joking that he put away his golf clubs a decade ago because the sport is too frustrating, Watt says he feels the need to remain busy and work to give back to the company and the community.

He will continue to serve the board of directors as vice chairman, where he will provide strategic support for NBT’s initiatives along the semiconductor chip corridor, and also serve as an advisor through the end of the year.

“It’s such a unique, once-in-a-hundred-year opportunity,” he says of the growth the region, particularly Syracuse, is poised for with the semiconductor industry. To see combined federal and state support to re-shore the industry is transformational, and he doesn’t want to miss it.

Watt also wants to make sure that NBT benefits along with the community as the need for housing grows and as contractors, franchisees, and businesses of all sizes need loans to get started or grow.

“All of these things are going to multiply, and we have the opportunity to be part of that,” he says. People will need loans, insurance, and even wealth management. “We’ll be there.”

Watt also plans to remain active with OnPoint for College, a nonprofit education and career-attainment program that helps students pursue post-secondary educational goals. Last year, NBT committed to funding a career-advisor position at the organization, and Watt plans to continue to be involved with OnPoint.

He also hopes to do a little fishing. “I will admit that once in a while, I have a fishing pole in my hand, and I hope to do a little more of that,” Watt quips.

Headquartered in Norwich, NBT Bancorp is the holding company for NBT Bank, N.A. and has more than $13.8 billion in assets. NBT Bank has 153 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut. The company also operates EPIC Advisors, Inc., a Rochester–based benefits-administration firm, and NBT Insurance Agency, LLC, a Norwich–based full-service insurance agency

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