Walsh names new finance commissioner, Smart City manager

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About Cannizzaro Cannizzaro has been working for the city since 2020, having started as director of accounting before being appointed deputy commissioner of finance in 2022, Walsh’s office said. “Michael Cannizzaro takes over as finance commissioner with a deep knowledge of Syracuse’s finances and a determination to further strengthen the City’s fiscal condition,” Walsh said […]

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About Cannizzaro

Cannizzaro has been working for the city since 2020, having started as director of accounting before being appointed deputy commissioner of finance in 2022, Walsh’s office said.

“Michael Cannizzaro takes over as finance commissioner with a deep knowledge of Syracuse’s finances and a determination to further strengthen the City’s fiscal condition,” Walsh said in a news release. “He has a strong track record of improving the City’s financial processes and increasing the accuracy and timeliness of our reporting. Michael is also a well-respected leader in our finance department and across city government.”

Cannizzaro, a certified public accountant, has more than 12 years of experience in finance and accounting. He has worked for major private companies and for regional and national accounting firms. As director of accounting with the city, Cannizzaro was instrumental in enabling Syracuse to eliminate material weaknesses in its annual audit in 2021, the first time in more than a decade, the mayor’s office said.

Cannizzaro graduated from Henninger High School and is also a graduate of Cornell University.

He succeeds current finance commissioner Brad O’Connor, who is returning to a position in the private sector. O’Connor served the city for nearly four years, first as its deputy commissioner of finance and then as commissioner of finance from 2020-2023.

“I’m very grateful to Brad O’Connor for his service to the City of Syracuse. Under his leadership, Syracuse made major progress on its path to fiscal sustainability. Brad guided the City through the fiscal uncertainty of the COVID-19 pandemic, helped build the City’s fund balance to a responsible level, and played a critical role in improving the outlook the big credit ratings agencies have on Syracuse,” Walsh contended. “We are fortunate he brought his talents to city government.”

About Scipione

As Smart City manager, Scipione will develop data-driven, smart-city infrastructure and programs, Walsh’s office said.

Scipione will work with other city departments such as the office of analytics, performance and innovation (API) and information technology to bring together a “diverse set of government, academic and private-sector partners.”

Reporting to the director of strategic initiatives, the role plays a “key part” in the Syracuse Surge strategy — Walsh’s strategy for “inclusive growth in the New Economy.”

Scipione will support the development and implementation of local digital-equity plans, — including the community-broadband program — to address the “digital divide” in Syracuse. He will monitor the effectiveness of projects using Internet of Things and other “smart” systems to enable “more efficient and equitable” city operations.

He will also ensure projects maintain alignment with data, privacy, and surveillance-related policies and plans.

Scipione previously worked in a technical capacity at Caterpillar, Inc. and at SIDEARM Sports. In his previous roles, he developed cloud-based infrastructure, automated deployment tools, and managed digital-product launches.

Scipione earned his master’s degree in information management from Syracuse University, in addition to a certificate of advanced study in data science and his bachelor’s degree in information management and technology.

He has since returned to the university as an adjunct professor in the School of Information Studies, which is also known as the iSchool. He is also a 2022 graduate of FOCUS Greater Syracuse’s Citizens Academy and a founding member of the Salt Springs Neighborhood Association, Walsh’s office said.

Survey: New York manufacturing activity “held steady” in July

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The Empire State Manufacturing Survey general business-conditions index fell 6 points in July to 1.1. The index had climbed 38 points in June to 6.6 after plummeting 43 points in May to -31.8. The general business-conditions index is the monthly gauge on New York’s manufacturing sector. The July reading — based on firms responding to

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The Empire State Manufacturing Survey general business-conditions index fell 6 points in July to 1.1.

The index had climbed 38 points in June to 6.6 after plummeting 43 points in May to -31.8. The general business-conditions index is the monthly gauge on New York’s manufacturing sector.

The July reading — based on firms responding to the survey — indicates business activity “held steady” in New York State, the Federal Reserve Bank of New York said in its July 17 report.

A positive reading indicates expansion or growth in manufacturing activity, while a negative index number shows a decline in the sector.

The survey found 29 percent of respondents reported that conditions had improved over the month, while 27 percent said that conditions had worsened, the New York Fed said.

It also found that new orders “inched up” and shipments “expanded.”

Survey details

The new-orders index was little changed at 3.3, indicating that orders edged higher, and the shipments index fell 9 points to 13.4, pointing to an increase in shipments, “though at a slower pace than last month,” the New York Fed said.

At -8.8, the unfilled-orders index remained negative for a third straight month, a sign that unfilled orders continued to decline. The inventories index also remained negative at -10.8, indicating that inventories moved lower.

The delivery times index came in at -6.9, suggesting that delivery times shortened.

The index for number of employees climbed into positive territory for the first time since January and, at 4.7, “pointed to a small increase” in employment. The average-workweek index rose to 0.3, indicating little change in hours worked.

Price increases continued to “moderate.” The prices-paid index fell 5 points to 16.7, and the prices-received index fell 5 points to 3.9. The prices-paid index has now fallen nearly 50 points over the past year, and the prices-received index has declined a “cumulative” 27 points, the New York Fed said.

The index for future business conditions edged down to 14.3, indicating that while conditions are expected to improve, optimism remained subdued. New orders and shipments are expected to increase modestly, delivery times are anticipated to continue to shorten, and employment is expected to expand modestly.

The capital spending index fell 5 points to 2.9, suggesting that capital spending plans “remained soft.”

The New York Fed distributes the Empire State Manufacturing Survey on the first day of each month to the same pool of about 200 manufacturing executives in New York. On average, about 100 executives return responses.

Finger Lakes Health’s affiliation with URMC begins Aug. 1

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GENEVA — Finger Lakes Health (FLH) will officially join the health system led by the University of Rochester Medical Center (URMC) on Aug.1. Officials of both institutions announced the affiliation during a July 6 news conference in Geneva. The affiliation seeks to “maintain and expand access to high-quality health services close to home” in the

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GENEVA — Finger Lakes Health (FLH) will officially join the health system led by the University of Rochester Medical Center (URMC) on Aug.1.

Officials of both institutions announced the affiliation during a July 6 news conference in Geneva.

The affiliation seeks to “maintain and expand access to high-quality health services close to home” in the communities of eastern Ontario, Seneca, Yates, and Wayne counties served by Finger Lakes Health. It follows a recently signed agreement to collaborate with New York State Attorney General Letitia James to ensure the affiliation meets the health-care needs of Finger Lakes residents, FLH said.

“Affiliation ensures that we can continue to provide vital services for all our patients and focus on expanding their health care choices in the years to come,” Dr. Jose Acevedo, president and CEO of Finger Lakes Health, said. “We are proud to join the University of Rochester Medical Center, a center of research and patient care with a reputation for exceptional innovation, quality, and safety.”

Acevedo will continue overseeing all administrative operations and patient services provided by the new affiliate, which will be known as UR Medicine Finger Lakes Health.

Acevedo noted the advantages of joining a health system that has built “meaningful, productive” affiliations with other rural hospitals in upstate New York at a time when rural hospitals in other parts of the country are “financially fragile and at risk of closure.”

“This connection to one of the nation’s leading academic medical centers will build upon established clinical partnerships, increase access to specialty care, and enhance our ability to serve our communities for generations to come,” Acevedo noted.

About FLH

Finger Lakes Health currently employs about 1,350 doctors, nurse practitioners, physician assistants, nurses, and staff members who will join more than 27,000 faculty and staff members employed by URMC and its UR Medicine affiliates.

As a new affiliate, FLH adds two inpatient hospitals — Geneva General in Geneva and Soldiers & Sailors Memorial in Penn Yan — along with four long-term care facilities and 13 physician practices.

UR Medicine, the health system led by URMC, already includes Strong Memorial and Highland Hospitals in Rochester; Thompson Health in Canandaigua; Noyes Health in Dansville; Jones Memorial Hospital in Wellsville; and St. James Hospital in Hornell, as well as nursing homes, senior-housing facilities, home health providers, and physician groups.

Geneva General Hospital and Soldiers & Sailors Memorial Hospital in Penn Yan will retain local governance by community boards, with three URMC representatives joining the Finger Lakes Health board of directors and three FLH representatives joining the URMC board.

Moving forward

The affiliation will now proceed after several years of planning and following anti-trust investigations by the Federal Trade Commission and New York State Attorney General’s office.

The systems provided “extensive” documents and data demonstrating “substantial benefits” to patients and communities served by other rural hospitals after they joined UR Medicine, and showing that the same will be true for Finger Lakes Health. The parties will develop a detailed plan for maintaining and expanding patient services in the Finger Lakes Health service area, reporting progress to the attorney general annually for five years.

“We thank Attorney General James for her support in making this affiliation happen,” Dr. Mark Taubman, CEO of the University of Rochester Medical Center, said. “We are also grateful to [U.S] Senator Chuck Schumer and Congressman Joe Morelle, who expressed strong support for the affiliation to federal and state regulators.”

Expanding on existing collaborations

Taubman noted that URMC and its physicians already collaborate with Finger Lakes Health to provide cardiology, stroke care, cancer treatment, ophthalmology, otolaryngology, urology and vascular-care services in the Finger Lakes Health service area. That includes performing surgeries at Geneva General Hospital and Finger Lakes Surgery Center.

Under the affiliation plan, URMC will work with Finger Lakes Health to expand access to a range of primary and specialty-care services; support implementation of the electronic medical record used by all UR Medicine affiliates to provide patients a “seamless care experience;” build operational efficiencies through group purchasing; and help recruit physicians, nurse practitioners, and physician assistants.

“Our mission as a health system is to provide families across upstate New York with high-quality patient care as close to home as possible for nearly all their medical needs, with access to highly specialized services by traveling no farther than Rochester,” Taubman said. “We have high regard for Dr. Acevedo and his leadership team, and look forward to working more closely to expand access to care for Finger Lakes families.”

“Extensive” search for a partner

The affiliation process began in June 2019 with Finger Lakes Health’s board of directors initiating a request for proposals for potential partners. FLH sought to serve its large patient base in eastern Ontario, Seneca, Yates, and Wayne counties with “comprehensive and patient-centered” medical care.

“Our board was committed to serving our communities’ health-care needs,” Menzo Case, chair of the Finger Lakes Health board of directors, said. “The University of Rochester Medical Center clearly emerged as the best partner aligned with our mission, committed to our communities, and assuring ease of access to services close to home.”

The COVID-19 pandemic delayed the formal affiliation, but in October 2020, the two organizations entered into a management-services agreement that the New York State Department of Health approved. The management-services agreement focused on expanding the “longstanding collaborative relationships” between Finger Lakes Health and URMC physicians and served as a “meaningful step” toward the affiliation, the health organizations said.

Nascentia unveils renovated Beeches Manor

Construction, Design & Real Estate, Health Care, Nonprofits, Regional News, Subscriber Only

ROME, N.Y. — Nascentia Health recently cut the ribbon on the newly renovated Beeches Manor, the first phase of improvements and changes planned at the Beeches complex. The health-care agency has had an office on the Beeches property since about 2011, COO Cheryl Manna says. About a decade in, Destito Realty, Inc. reached out to

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ROME, N.Y. — Nascentia Health recently cut the ribbon on the newly renovated Beeches Manor, the first phase of improvements and changes planned at the Beeches complex.

The health-care agency has had an office on the Beeches property since about 2011, COO Cheryl Manna says. About a decade in, Destito Realty, Inc. reached out to Nascentia about purchasing the property, she notes, and Nascentia became the new owner in April 2021.

Work began soon after on the Manor. It needed some TLC, Manna says, and was a priority because it’s also the hub of the property.

The Hayner Hoyt Corporation of Syracuse served as general contractor for the project, which updated the kitchen, three banquet rooms, and pub. That included all-new restaurant-grade equipment for the kitchen, restoring or replacing flooring, plaster and woodwork restoration, gas-fireplace inserts, installing new windows, replacing the HVAC system, and new state-of-the-art audio/visual equipment. Copper donated by Revere Copper was incorporated into the bar area.

The goal was to not only modernize things, but also keep the charm and appeal of the 1917 stone mansion, she says. Rather than replace all the old furniture, much was left with new pieces scattered here and there.

The Manor has room for up to 450 people for events, and can also host smaller gatherings like corporate meetings, bridal and baby showers, and seminars. There is an outdoor deck, as well as a lawn area large enough to hold an event tent.

The space is still available for rental for events, and Manna says Nascentia also hopes to make use of the space for the residents it will have on the property eventually. The pub will soon be open to the public for light dinner fare a few days a week.

Future Manor renovations include restoring the second floor to provide guest accommodations.

The next phase of renovations in the multi-year plan to transform the Beeches property into an active adult retirement community includes renovating the Beeches Inn into 55 units of accessible senior housing. Future development will include patio homes.

Some housing may be for sale, while other units are leased, Manna says, Those details are still being worked out as plans are drawn up.

“One of the things we were excited about was the ability to create some housing on the property,” she says. “The right kind of housing is hard to come by for seniors.”

Nascentia is applying for Homes and Community Renewal funding as well as Health Care Transformation funding from the state for the next phase of the project, which includes the housing as well as transforming one of the buildings on the property into a larger office for Nascentia.

The medical offices would house Nascentia’s current operations, Manna says, and also be large enough to provide other services such as primary care.

Other planned work includes repairing an existing pool, including restoring the adjacent stone pool house, and possibly adding fountains with some outdoor seating. Nascentia would also like to add a second pool and other outdoor amenities such as pickleball courts, a gazebo, walking trails, cart paths, and a pavilion.

In the lower level of the Manor, “we’re looking at possibly adding gym or spa services,” Manna says.

“It’s really going to be a hopping property when it’s finished,” she quips.

Nascentia Health is a home-health-care agency serving 48 counties. It employs more than 500 people at offices in Syracuse, Rome, Rochester, Buffalo, and Albany.

Oswego County gets $1.8M in state matching funds after shared-services tax savings

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OSWEGO — Oswego County is receiving nearly $1.8 million in state matching funds resulting from taxpayer savings through shared services in 2020. The funding is provided through the County-Wide Shared Services Initiative (CWSSI), the New York Department of State announced recently. CWSSI provides a one-time state match of county and local-government taxpayer savings achieved in

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OSWEGO — Oswego County is receiving nearly $1.8 million in state matching funds resulting from taxpayer savings through shared services in 2020.

The funding is provided through the County-Wide Shared Services Initiative (CWSSI), the New York Department of State announced recently. CWSSI provides a one-time state match of county and local-government taxpayer savings achieved in the first year of implementation of new shared-services projects.

“Our County-Wide Shared Services Initiative plays a critical role in helping local governments run more efficiently and effectively,” New York State Secretary of State Robert Rodriguez said in a news release. “Through this program, Oswego County worked together with its local government partners to identify new and creative ways to share services, delivering real savings for taxpayers that will repeat annually for years to come.”

Pharmacy benefit, highway equipment

As part of the CWSSI, Oswego County created a shared-services plan that identified ways to consolidate services and save taxpayer money through government efficiencies in services and community programs. The two shared-services projects that were implemented as part of this plan and resulted in taxpayer savings included a pharmacy benefit coalition and the sharing of highway equipment.

Oswego County partnered with Onondaga County and the City of Syracuse to create a pharmacy-benefit coalition. This partnership allows the county to reduce spending associated with administering employee benefit plans and save taxpayer dollars, while also reducing prescription-drug costs for employees. Oswego County had more than $1.7 million in taxpayer savings in 2020 as a result of this partnership.

At the same time, Oswego County obtained a piece of highway equipment called a screener that was shared between the towns of Richland and Sandy Creek. A screener is used to refine waste roadway materials for wintertime application and is usually towed behind a large utility vehicle, such as a dump truck.

Oswego County generated $35,702 in taxpayer savings in 2020 as a result, and Richland and Sandy Creek each produced $4,133 in taxpayer savings, for a total of $43,969.

Cooperative Federal formally opens its relocated branch on Erie Boulevard

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SYRACUSE, N.Y. — Cooperative Federal, a credit union founded and headquartered in Syracuse, on July 21 formally opened its relocated office at 1816 Erie Boulevard East in Syracuse. The credit union’s Erie Boulevard location replaced a branch formerly located just under 1 mile away at 723 Westcott St., where Cooperative Federal operated from 1994 through

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SYRACUSE, N.Y. — Cooperative Federal, a credit union founded and headquartered in Syracuse, on July 21 formally opened its relocated office at 1816 Erie Boulevard East in Syracuse.

The credit union’s Erie Boulevard location replaced a branch formerly located just under 1 mile away at 723 Westcott St., where Cooperative Federal operated from 1994 through this spring.

The new branch, which has 21 employees, had a “soft opening” on April 20, Meagan Weatherby, development and communications manager for Cooperative Federal, tells CNYBJ in an email.

From this new location, Cooperative Federal contends it offers “expanded access” to financial services for homeownership, small business, personal banking, and credit, “with a focus on reaching people and communities that have been unjustly excluded from wealth.”

“Since our founding over 40 years ago, Cooperative Federal has been more than a financial institution — we are part of the movement for racial and economic justice,” Christina Sauve, CEO of Cooperative Federal, noted in a news release about the grand-opening event. “We use the tools of finance to help uplift Syracuse neighborhoods, unlocking opportunities for homebuyers, entrepreneurs, and people from all walks of life.”

Sauve went on to say. “Above all, Coop Fed’s work is grounded in a commitment to inclusion and solidarity. We know that the only way to reckon with current and historical injustice is to support one another and work side by side.”

The Erie Boulevard East office is now the credit union’s largest branch, offering updated amenities including drive-through service. It represents a “centralized hub” for member service, lending, financial counseling, community development, and back-office operations, including off-street parking.

“As the only Minority Depository Institution [MDI] in the Central NY region, Cooperative Federal has the potential and the responsibility to serve more people,” Sauve said.

MDIs are banks and credit unions where people of color are the majority of the account holders, board leaders, and service-area residents. Cooperative Federal currently serves nearly 6,000 households, small businesses and community organizations, and is on a mission to double that number over the next several years.

“By moving into a larger and more centrally located facility, in a highly diverse neighborhood, Cooperative Federal will build on our founders’ legacy and rise to the challenges facing Syracuse today,” Sauve added. “We welcome all the people of Syracuse to join us.”

The credit union was founded by community organizers in 1982 with a mission to “provide equitable access to capital” for homeownership, small business, and personal finance, per the credit union.

The new branch is also located in a certified opportunity zone, meaning it is designated by local government as a priority area for economic development. Through its presence, Cooperative Federal says it aims to support development that is “inclusive, sustainable, equitable, and beneficial to neighborhood residents who are predominantly people of color living in low-income households.”

Besides the new Erie Boulevard location, Cooperative Federal also has locations at 401 South Avenue (inside the Southwest Community Center), 800 North Salina St., and 516 Burt St. (inside the Syracuse Housing Authority).

AmeriCU announces major expansion of membership field

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ROME, N.Y. — Big things are happening at AmeriCU Credit Union. The Rome–based credit union began this year with several strategic moves that set the organization up for continued growth, including opening a virtual branch and other innovative technology as well as adding several new positions, including three business-relations managers. “We have experienced considerable organic

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ROME, N.Y. — Big things are happening at AmeriCU Credit Union.

The Rome–based credit union began this year with several strategic moves that set the organization up for continued growth, including opening a virtual branch and other innovative technology as well as adding several new positions, including three business-relations managers.

“We have experienced considerable organic growth,” AmeriCU CEO Ronald Belle says. Now, the credit union hopes to bump up that growth by expanding its field of membership into 15 additional counties.

The credit union has served the nine counties of Cayuga, Cortland, Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, and Oswego for many years. Now, it has approval from the New York State Department of Financial Services to expand its field of membership to include Broome, Chenango, Clinton, Essex, Franklin, Fulton, Hamilton, Montgomery, Otsego, St. Lawrence, Seneca, Schoharie, Tioga, Tompkins, and Wayne counties.

“That’s a significant increase for us,” Belle says. AmeriCU currently has about 160,000 members and has been growing membership between steadily in recent years. With the expanded field of membership, AmeriCU now has access to a population of about 2.2 million people to further grow membership, he adds. AmeriCU already has some members in those counties, which represents a natural expansion outward from the counties the credit union has already served.

The organization just received the approval in July, Belle says, so there aren’t any immediate plans to open branches in those counties. “With the virtual branch, members in the new county can interact with us without a branch,” he notes.

Belle expects new branches will happen after careful planning and also anticipates employment to grow beyond the current 400 employees in order to maintain the level of service that credit-union members expect.

He credits his team and that level of service they provide, combined with all the same technology that big banks offer, with AmeriCU’s continued membership growth. Advancements such as video teller machines, which connect members in real time with AmeriCU staff via video, and the credit union’s virtual financial center provide a variety of ways for members to transact their business.

The formula allows those who want to interact in person to visit a branch and have that experience, while those who prefer to use technology to handle their banking can do that instead, he says. The mix keeps AmeriCU relevant to members of all ages, and as a result, he says the credit union has seen growth across all age brackets.

AmeriCU is actively working to expand its commercial membership as well. Historically, credit unions were seen as financial institutions for individual consumers, but the reality is that AmeriCU offers the same products and services as a bank, Belle says.

“I do think there’s an opportunity for credit unions to expand in that space,” he adds. Banks serve the business community well — and so do credit unions, he says.

Being local also helps the credit union serve its members — both individuals and businesses, Belle notes. “Our deposits are local. Our loans are local,” he says. “Local matters to people.”

Beyond that, AmeriCU works to invest in the communities it does business in, he says. Managers are encouraged to be active on the boards of organizations within the community. On top of that, the credit union added a “personal day of meaning” to its employee benefits this year. That benefit gives each employee eight paid hours each year to devote to volunteering at an organization that’s important to them to the tune of between 2,000 and 2,500 volunteer hours annually. Additionally, AmeriCU supports about 150 organizations in those communities in some way, and that number will only grow as AmeriCU expands, Belle says.

AmeriCU serves its 160,000 members at 20 branch locations in Central and Northern New York.

SFCU breaks ground on new Cicero branch office

Banks & Credit Unions, Construction, Design & Real Estate, Insurance & Financial Services, New York News, Nonprofits, Regional News, Subscriber Only

CICERO, N.Y. — Sidney Federal Credit Union (SFCU) recently formally broke ground on its first Syracuse–area branch at 8062 Brewerton Road in Cicero. Construction will begin as soon as the town approves permits, with plans to complete the project by the end of this year or early 2024. Principle Design Engineering, PLLC of Norwich is

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Five Star Bank promotes Bader to chief information security officer

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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, on July 24 announced that it has promoted Scott Bader to serve as the bank’s senior VP and chief information security officer (CISO). In his role, Bader will be responsible for the “execution and evolution” of the bank’s information and cybersecurity

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In his role, Bader will be responsible for the “execution and evolution” of the bank’s information and cybersecurity program, as well as compliance with statutory and regulatory requirements regarding information access, security, and privacy.

“Scott is an exceptional and proven leader who I’m confident will help the bank achieve its strategic goals while ensuring customer and bank information is maintained in a highly secure manner,” Gary Pacos, chief risk officer of Five Star Bank, said in a release. “Having led Five Star Bank’s technology function through significant growth during the past 15 years, Scott has strong technology experience, deep institutional knowledge and a keen understanding of the sophisticated threats facing the financial services industry today, all of which are key to supporting Five Star Bank and its affiliates into the future.”

Bader background

Since joining Five Star Bank in 2008, Bader has taken on “steadily increasing” responsibility in the information security and technology functions.

From 2010-2014, he led the launch of the bank’s information-security program as senior VP and information security officer and technology services manager. Since 2014, Bader has served as senior VP and technology services director and played an integral role in the bank’s digital transformation.

Prior to joining Five Star Bank, Bader worked in progressive technology roles at retailer Chico’s FAS, Inc. He also served in the U.S. Marine Corps from 1990-1994, working on an international counterintelligence team.

Five Star Bank and Financial Institutions, Inc. are headquartered in Warsaw in Wyoming County in Western New York. Five Star Bank has about 50 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Waterloo, Geneva, Ovid, Horseheads, and Elmira. Five Star Bank recently expanded into the Syracuse market with a new commercial-loan production office at 115 Solar St. in the city’s Franklin Square area.

Financial Institutions, Inc. has about $6 billion in assets, offering banking, insurance, and wealth-management products and services through a network of subsidiaries.

Community Bank System leaders prepare for transition

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“We’ve built a company that is very diversified and very stable,” incoming President/CEO Dimitar A. Karaivanov says in an interview with CNYBJ. With a significant banking business (Community Bank, N.A.), insurance business (OneGroup NY), benefits business (BPAS), and wealth-management business (Community Bank Wealth Management), “we have all the pieces in place,” he says. Current Community

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Current Community Bank System President/CEO Mark E. Tryniski will retire on Dec. 31 from the role he has filled since 2006.

Karaivanov will bring with him a new intensity level and energy to the role with plans to continue on the same growth path, including attracting both top talent and top clients.

While the banking climate remains in a bit of turmoil amid current economic and interest-rate conditions, Community Bank has built a reputation of trust and permanence, he says. It’s a business model that is sustainable and bolstered by the company’s diversification.

“A lot of our competitors are, frankly, just a bank,” Karaivanov says. About one-third of Community Bank’s income comes from outside the banking business, he says. That diversification helps the company weather volatility in the industry.

The banking company has focused on steady and consistent growth, he adds. Excluding one-time gains and losses, Community Bank System generated $176.6 million in total operating revenue in the first quarter of 2023, up 10 percent from the prior year’s first quarter and up 0.4 percent from the fourth quarter of 2022.

Community Bank’s approach isn’t flashy, but it’s stable and sustainable. The result is a bank that’s just the right size. It’s a sweet spot, Karaivanov says, between being big enough to offer a robust menu of products and services and small enough to provide a boutique experience for customers. The banking company has 3,000 employees and 200 bank branches throughout New York, northeast Pennsylvania, Vermont, and western Massachusetts.

While Community Bank has relied on acquisitions in the past for growth, today organic growth has doubled over the company’s historic rate, Karaivanov says. Acquisitions remain a growth option when the right opportunity comes along, he adds.

Going forward, one of the things Karaivanov is most enthusiastic about is the staff he will lead. “I just couldn’t be more excited about the talent we have at the company,” he says. “I’m just amazed every day. I think we’re in the best position we’ve ever been in because we have the best people we ever have.”

Tryniski says he counts Karaivanov as one of those talented people, noting that he tried to get his successor to join the banking company for the better part of a decade before Karaivanov finally joined Community Bank System in June 2021 as executive VP of financial services and corporate development.

Looking back on his years of leading the company, Tryniski is proud of the company’s evolution, but is even more proud of its culture and mission of integrity, excellence, teamwork, and humility. “To me, that’s most important,” he says.

Looking ahead toward retirement, Tryniski says he’s ready. “I don’t have anything left to do on my to-do list when it comes to professional aspirations,” he says. Instead, he’s looking forward to spending more time with his friends and family, especially his grandchildren, having more time for his motorcycles, and “watching Dimitar from the bleachers continue to grow and prosper with this company.”

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