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Community Bank System to pay Q1 dividend of 45 cents in April
DeWITT — Community Bank System, Inc. (NYSE: CBU) — parent company of Community Bank, N.A. — recently announced that it has declared a quarterly cash dividend of 45 cents per share of its common stock for the first quarter. The dividend will be payable on April 10, to shareholders of record as of March 15. […]
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DeWITT — Community Bank System, Inc. (NYSE: CBU) — parent company of Community Bank, N.A. — recently announced that it has declared a quarterly cash dividend of 45 cents per share of its common stock for the first quarter.
The dividend will be payable on April 10, to shareholders of record as of March 15.
The quarterly payment equates to an annualized yield of about 3.9 percent, based on the banking company’s current stock price.
DeWitt–based Community Bank System is a diversified financial-services company with total assets of $15.6 billion focused on four main business lines — banking, benefits administration, insurance services, and wealth management. Community Bank, N.A. is among the nation’s 100 biggest banking institutions and operates about 200 branches across upstate New York, northeastern Pennsylvania,
Onondaga County hotel occupancy rises nearly 7 percent
SYRACUSE — Onondaga County hotels hosted more guests in January than a year ago, and two other vital benchmarks of business performance also posted increases. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 6.6 percent to 47.8 percent in the first month of 2024 compared to January 2023,
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SYRACUSE — Onondaga County hotels hosted more guests in January than a year ago, and two other vital benchmarks of business performance also posted increases.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the county rose 6.6 percent to 47.8 percent in the first month of 2024 compared to January 2023, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), an industry gauge that measures how much money hotels are bringing in per available room, jumped 11.2 percent to $53.10 in Onondaga County in January from a year prior.
Average daily rate (or ADR), which represents the average rental rate for a sold room, rose 4.3 percent to $111.11 in January versus the year-prior period.
Oneida County hotels see improved business in January
UTICA — Oneida County hotels had a positive month in January, posting a rise in hotel occupancy and also registering increases in two other key indicators of business performance. The hotel-occupancy rate (rooms sold as a percentage of rooms available) rose 2.5 percent to 45.4 percent in January from the year-prior month, according to a
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UTICA — Oneida County hotels had a positive month in January, posting a rise in hotel occupancy and also registering increases in two other key indicators of business performance.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) rose 2.5 percent to 45.4 percent in January from the year-prior month, according to a report from STR, a Tennessee–based hotel-market data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, jumped 6.6 percent to $53.98 this past January in the Mohawk Valley’s largest county, compared to January 2023.
Jefferson County hotels see increase in guests in January
WATERTOWN — Jefferson County hotels posted a more than 2 percent rise in overnight guests in January, as two other important indicators of hotel-business performance also improved. The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the North Country’s largest county increased 2.2 percent to 36.7 percent in the initial month of
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WATERTOWN — Jefferson County hotels posted a more than 2 percent rise in overnight guests in January, as two other important indicators of hotel-business performance also improved.
The hotel-occupancy rate (rooms sold as a percentage of rooms available) in the North Country’s largest county increased 2.2 percent to 36.7 percent in the initial month of 2024 from January 2023, according to STR, a Tennessee–based hotel market data and analytics company.
Revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, rose 5.3 percent in Jefferson County to $37.38 in January, compared to the year-prior month.
The average daily rate (ADR), which represents the average rental rate for a sold room, went up 3 percent to $101.76 in January from the same month in 2023.

Berkshire Bank to sell East Syracuse branch to Pathfinder
It’s also selling nine other New York state branches to other financial institutions EAST SYRACUSE — Boston–based Berkshire Hills Bancorp, Inc., (NYSE: BHLB) announced it

New York home sales slip nearly 4 percent in January
But pending sales, home prices rise ALBANY — New York realtors sold 7,203 previously owned homes in January, down 3.8 percent from the 7,486 existing homes they sold in January 2023. However, pending sales rose almost 9 percent, foreshadowing a rebound in closed home sales in the next couple of months, according to the monthly
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ALBANY — New York realtors sold 7,203 previously owned homes in January, down 3.8 percent from the 7,486 existing homes they sold in January 2023.
However, pending sales rose almost 9 percent, foreshadowing a rebound in closed home sales in the next couple of months, according to the monthly housing report that the New York Association of Realtors (NYSAR) issued on Feb. 22.
“Low housing inventory continued to slow the New York housing market and with interest rates still fluctuating near 6.5 percent, 2024 began much the same as 2023 ended in the Empire State,” NYSAR said to open its news release about the January housing report. “New year, same story for New York State housing to start 2024” was the headline that NYSAR used for the release.
Interest rates moved marginally lower from December 2023 to January 2024 in month-over-month comparisons. NYSAR cites Freddie Mac as indicating the average on a 30-year fixed-rate mortgage dropped from 6.82 percent in December to 6.64 percent in January. For comparison, a year earlier, the interest rate stood at 6.27 percent.
New York housing data
The inventory of homes available for sale across the Empire State totaled 35.492 in January, a decline of 10.2 percent from the January 2023 figure of 39,544.
New listings of homes dipped 1.5 percent to 9,279 this January from 9,423 a year prior, per NYSAR.
Pending sales in New York state totaled 7,221 in January, an increase of 8.9 percent from the 6,629 pending home sales in the same month in 2023, the data shows.
Amid continued tight inventory, home prices jumped. The January 2024 statewide median sales price was $400,000, up 9.6 percent from the January 2023 median sales price of $365,000.
The months’ supply of homes for sale at the end of January stood at 3.9 months, unchanged from the end of January 2023, per the association’s monthly report. A 6 month to 6.5-month supply is considered a balanced market, NYSAR said.
All home-sales data is compiled from multiple-listing services in New York, and it includes townhomes and condominiums in addition to existing single-family homes, according to NYSAR.

Timing was right for Symphoria name change to Syracuse Orchestra
SYRACUSE — The group performed for 11 years as Symphoria but is now moving forward as The Syracuse Orchestra. Executive director Pam Murchinson said the “timing was right to once again, make it clear that our symphony orchestra belongs to the local community.” The performing-arts organization made the announcement on Feb. 17 prior to its
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SYRACUSE — The group performed for 11 years as Symphoria but is now moving forward as The Syracuse Orchestra.
Executive director Pam Murchinson said the “timing was right to once again, make it clear that our symphony orchestra belongs to the local community.”
The performing-arts organization made the announcement on Feb. 17 prior to its concert performing Gustav Holst’s 1914 masterpiece, “The Planets,” per a Feb. 19 news release about the name change and 2024-25 concert season.
The group has been performing as Symphoria since the “demise” of the Syracuse Symphony Orchestra in 2011. As Symphoria, the musicians have performed more than 500 full-orchestra concerts, and at least as many chamber-ensemble performances in the community.
The performing-arts organization also noted that more than 20,000 children attended performances free of charge; and the orchestra’s “Healing Harmonies” program placed live music in both health care and social-service settings to provide “mental, physical, and emotional health benefits that come from live music.”
“I’m so proud to see all the ways that our orchestra is evolving as our community grows,” Mary Ann Tyszko, who chairs the board of directors of the Syracuse Orchestra, said in the release. “With our goal being the best orchestra we can be for Central New York; we’re excited to have a name that ties us more closely to our amazing community.”
With the new name, the Syracuse Orchestra says it believes it’s offering a 2024-2025 season that “has something for everyone.” From movie and holiday music, to Beethoven, to a tribute to Aretha Franklin and more, the Syracuse Orchestra “will be seen and heard throughout the Greater Syracuse area,” per its announcement.
More information about the Syracuse Orchestra’s 2024-2025 season, including how to buy tickets, is available at: SyracuseOrchestra.org.
Calling all entrepreneurs: SBA’s T.H.R.I.V.E. business-training program seeks applicants
SYRACUSE — Interested entrepreneurs can now apply to participate in the T.H.R.I.V.E. program through the Syracuse-Upstate New York district office of the U.S. Small Business

ConMed to pay Q1 cash dividend in early April
ConMed Corp. (NYSE: CNMD), a surgical-device maker with roots in the Utica region, says its board of directors has declared a quarterly cash dividend of 20 cents per share for the first quarter of this year. The dividend is payable on April 5, to all shareholders of record as of March 15. At the company’s
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ConMed Corp. (NYSE: CNMD), a surgical-device maker with roots in the Utica region, says its board of directors has declared a quarterly cash dividend of 20 cents per share for the first quarter of this year.
The dividend is payable on April 5, to all shareholders of record as of March 15. At the company’s current stock price, the dividend yields about 0.8 percent on an annual basis.
ConMed is a medical technology company that provides devices and equipment for minimally invasive surgical procedures. The firm’s products are used by surgeons and physicians in a variety of specialties, including orthopedics, general surgery, gynecology, thoracic surgery, and gastroenterology.
Headquartered in Largo, Florida since 2021, ConMed’s former corporate headquarters in New Hartford are still used for manufacturing, finance, human resources, legal, and other corporate functions.

Coughlin & Gerhart relocates Bainbridge office
BAINBRIDGE — Coughlin & Gerhart, LLP started the month of March with a short move to a new office down the street in Bainbridge in Chenango County. The move better positions the law firm to serve its clients in the area, Rachel Abbott, the firm’s managing partner, says. Coughlin & Gerhart moved out of its
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BAINBRIDGE — Coughlin & Gerhart, LLP started the month of March with a short move to a new office down the street in Bainbridge in Chenango County.
The move better positions the law firm to serve its clients in the area, Rachel Abbott, the firm’s managing partner, says. Coughlin & Gerhart moved out of its old office on March 1 and opened in the new one on March 4.
The new office at 109 N. Main St. is just one-tenth of a mile away from the prior location at 29 N. Main St. but offers much more to both the firm and its clients, she says.
The law firm’s lease at its old space was up, Abbott says, so Coughlin & Gerhart began looking around just to see what else was out there. While functional, the former space in a renovated house included stairs and didn’t include off-street parking.
The new office, which shares space with Germond Chiropractic Healthcare and Wellness Center, has a stepless entry and a wheelchair ramp along with a better office flow for the law firm, Abbott says.
“This is just a better space for the clients to come to,” she notes.
Along with improved visibility, the new Bainbridge office also includes ample on-site parking, making things easier for staff and clients alike.
On top of that, the new office is bigger, providing room for the growing practice, Abbott says. Since the Bainbridge office opened around 2011, it has doubled in size.
“For a small, rural area, we’ve actually grown quite a bit,” she says. The firm has doubled the number of attorneys from two to four and also has three paralegals and three secretaries on staff.
Abbott attributes the office’s growth to several factors, including Coughlin & Gerhart’s client-focused, community-driven value system.
“A lot of attorneys are retiring and closing their offices,” she adds. New attorneys also seem reluctant to set up shop in more rural areas.
Coughlin & Gerhart is more than happy to fill that void, Abbott says, bringing its full array of legal services to Bainbridge and surrounding areas. The firm’s practice areas include business and banking, litigation and trial, labor and employment, real estate, trusts and estates, accident and injury, workers’ compensation and disability, and public law.
While small, the Bainbridge office is usually bustling, Abbott notes. “It’s got a lot of energy.” The office sees a lot of foot traffic with clients frequently popping in to drop off paperwork or request an appointment. Each year, the Bainbridge office opens anywhere from 750 to 1,000 files a year, although some of those may be for repeat clients, she says.
“You never know who might show up on a given day with a legal issue,” Abbott says.
Although it boasts a small-town feel, the Bainbridge office has the full Coughlin & Gerhart firm and the expertise of its more than 50 attorneys across all its locations behind it, Abbott notes.
“It’s really a unique way of doing things,” she says of the law firm’s ability to pull resources from its larger offices when needed.
Headquartered in Binghamton, Coughlin & Gerhart has more than 50 attorneys on staff and has additional offices in Cortland, Hancock, Ithaca, Walton, Montrose, and Owego.
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