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Site-Seeker president sees opportunity, growth with HQ move
UTICA, N.Y. — Even amidst a pandemic, which in the minds of many has diminished the importance of physical workplaces, digital-marketing firm Site-Seeker recently unveiled its new headquarters in downtown Utica, moving from nearby New Hartford. “For those who do like the office environment [and] being with your teammates every day, we knew that we […]
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UTICA, N.Y. — Even amidst a pandemic, which in the minds of many has diminished the importance of physical workplaces, digital-marketing firm Site-Seeker recently unveiled its new headquarters in downtown Utica, moving from nearby New Hartford.
“For those who do like the office environment [and] being with your teammates every day, we knew that we needed to continue to provide a home base … somewhere that people could call home,” Site-Seeker President Matt Ford tells CNYBJ in a phone interview. Ford is also a co-owner of Site-Seeker alongside Brian Bluff, who co-founded the company in 2003 with his now-retired brother Eddie.
Site-Seeker finalized the move to a 1,200-square-foot space at 287 Genesee St. in early September. In addition to the new headquarters in Utica, the company has satellite branches in Las Vegas; Atlanta; Washington, D.C.; and Pinehurst, North Carolina. Seven employees currently work from the Utica office.
Site-Seeker was formerly based in New Hartford for more than 10 years. The firm provides services such as web development, search-engine optimization, digital marketing and advertising, and analytics.
Selecting a new HQ site
Ford says that the company’s search for a new headquarters began this past spring. Site-Seeker considered about six locations for the relocation in Utica, as well as others in Syracuse and as far afield as Rochester.
“The staff, through strategic conversations and strategic planning, had always indicated that community was important to them,” Ford says. Utica fit the bill, particularly following the New York governor’s-office announcement in May of a $10 million award for the city’s Downtown Revitalization Initiative. The money is set to go toward the renovation of buildings, improvement of public spaces, and the stimulation of arts and business.
The construction of the nearly $550 million Wynn Hospital of the Mohawk Valley Health System (MVHS) in downtown Utica, which MVHS expects to open in 2023, is another draw for wanting to be located in downtown.
“And so, we thought … with the revitalization of downtown Utica surrounding the hospital, that the area was a great location,” Ford says.
Site-Seeker has already begun to connect with the local community through a series of seminars on topics in digital marketing that are open to the public.
“We’re trying to add value [for] the people of the community, current clients, and other people interested in the services we offer,” Ford says of the seminars, adding that attendance has been good at the events so far. Those services include lead-generation technology, which Ford says “helps businesses understand who [website] visitors are and gives [the businesses] the ability to connect with them.” Site-Seeker holds the seminars in-person at the Utica office and virtually and promotes them on the Site-Seeker Facebook page.
The new office location was brought to the company’s attention through word of mouth, both from employees and customers, Ford says. He adds that the office was under renovation when it was first shown, but “we could see our space and we brought it to life.”
Ford expects the move to pay off in multiple ways.
“Moving to a new office space typically lifts the entire team, affecting morale and productivity in a positive way,” he says in an email. “By being recognized as a fixture in the downtown community, we’re already building more localized relationships and that will likely impact our revenue in a good way.”
Site-Seeker held a ribbon-cutting ceremony at its new office with the Greater Utica Chamber of Commerce on Oct. 1.
Ramboll begins work conducting energy audit of Empire State Plaza in Albany
ALBANY, N.Y. — Ramboll, a Copenhagen, Denmark–based firm that operates an office in Syracuse, is conducting an energy audit of Empire State Plaza. The effort is part of the state’s goal to “green the plaza” and generate 100 percent of the electricity in the state through renewable energy by 2040. Ramboll’s offices in Syracuse, Albany,
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ALBANY, N.Y. — Ramboll, a Copenhagen, Denmark–based firm that operates an office in Syracuse, is conducting an energy audit of Empire State Plaza.
The effort is part of the state’s goal to “green the plaza” and generate 100 percent of the electricity in the state through renewable energy by 2040.
Ramboll’s offices in Syracuse, Albany, and New York City are handling the audit work.
The New York Power Authority (NYPA) and New York State Office of General Services (OGS) selected Ramboll to conduct the audit.
Ramboll in 2019 acquired Syracuse–based OBG, which was previously known as O’Brien & Gere. Ramboll is an energy, environment, and health-sustainability consulting firm.
The 18-month energy audit will help the state in determining the benefit and feasibility of introducing existing and new energy innovations at the plaza. The planning includes the analysis and consideration of the impacts of the current and future utility operations of the plaza on the local and state community.
After a series of technical reviews, community listening sessions, and meetings with neighborhood associations, the energy audit will look to expand on the current efforts already underway at the plaza. Those efforts were announced in 2019 after NYPA and OGS completed an evaluation of energy options for the plaza.
The plaza’s current heating and cooling system uses a boiler-steam plant — powered by natural gas — to provide heating for the plaza in the winter months. It also leverages the high-pressure steam from the boilers to power several chillers for cooling in the summer months, OGS said. The plaza’s aging energy system “needs to be modernized” to support the 13,000 state employees who work there, the state says.
The goals of the audit include developing a path toward “significantly” reducing the plaza’s dependance on fossil fuels, including an investigation of geothermal and surface water as an energy source
In addition, the audit seeks to reduce the impact of the Empire State Plaza facilities on the local community and environment, along with maintaining and improving the energy resiliency of the plaza.
SECNY, Jordan-Elbridge School District open student-run branch at high school
ELBRIDGE, N.Y. — SECNY Federal Credit Union and the Jordan-Elbridge Central School District on Oct. 19 formally opened a student-run credit-union branch at the high school. The Eagle branch, as SECNY is calling it, will be open on Tuesdays and Thursdays during lunch periods when school is in session at the high school, located at
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ELBRIDGE, N.Y. — SECNY Federal Credit Union and the Jordan-Elbridge Central School District on Oct. 19 formally opened a student-run credit-union branch at the high school.
The Eagle branch, as SECNY is calling it, will be open on Tuesdays and Thursdays during lunch periods when school is in session at the high school, located at 5721 Hamilton Road in the town of Elbridge. It will be used to assist students with real-life financial education, personal-finance activities, and employability skills.
The student branch is designed specifically for staff and students — and potential family members — who are authorized to be in the building during hours of operation. It is not open to the general public, Courtney Fulmer, chief experience officer at SECNY Federal Credit Union, tells CNYBJ in an email.
The program came to fruition through the involvement of Meghan Voit, a teacher at Jordan-Elbridge and Mark Schermerhorn, principal at Jordan-Elbridge High School, SECNY said.
Services at the branch will include a traditional teller line with the ability to complete basic transactions as well as account opening and online/mobile-service offerings. Students and staff within the school may become SECNY members, make deposits, and access free e-services.
A select group of students will perform various credit-union job functions as member-service representatives, with “opportunity for growth” as the year progresses. SECNY and Jordan-Elbridge staff will oversee the branch.
During this process, students completed interviews, orientation activities, and training sessions. They learned about financial products and services, security and confidentiality processes, and got a “full scope” look at the inner workings of a financial institution.
The addition of the Eagle branch marks the third student-run credit-union branch SECNY has opened in the last three years. The other two branches are at Onondaga Junior/Senior High School and LaFayette Junior/Senior High School.
“The student branch programs are incredibly beneficial not only for students and school staff but also for their families and our communities,” Fulmer contended in a SECNY news release. “They foster real-world financial responsibility combined with learned job skills and the sense of teamwork necessary for future success.”
SEFCU to expand through a merger in 2022
ALBANY, N.Y. — The planned merger of Albany–based SEFCU, which operates branches in Central New York, and CAP COM is still on track for completion in 2022. That’s according to Ken Jubie, VP of communications and public relations at SEFCU. Both SEFCU and CAP COM, another federal credit union headquartered in New York’s Capital Region,
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ALBANY, N.Y. — The planned merger of Albany–based SEFCU, which operates branches in Central New York, and CAP COM is still on track for completion in 2022.
That’s according to Ken Jubie, VP of communications and public relations at SEFCU.
Both SEFCU and CAP COM, another federal credit union headquartered in New York’s Capital Region, announced their plans in late July.
The boards of directors of both organizations “unanimously” voted to approve a “merger of equals” that will become “fully integrated next year,” SEFCU said July 29. Financial terms of the agreement weren’t disclosed.
The due-diligence process and required regulatory approval of both the National Credit Union Administration and the New York State Department of Financial Services, along with the membership vote, will likely result in the merger closing in 2022.
The newly combined entity will have a new name to “reflect the respective histories and common values” of both organizations.
SEFCU and CAP COM leaders have been exploring a potential merger, and throughout their discussions, “found a consistent mission, common purpose, and shared vision that prioritizes our employees, members, and communities,” SEFCU said.
SEFCU’s current employee headcount is about 950, and CAP COM has about 450 workers. The combined entity will have about 1,400 total employees, according to Jubie.
The credit unions emphasize their upcoming merger won’t result in any layoffs but will “provide the scale necessary to create greater opportunities for existing employees, the need for additional team members, and significant advancements in products, services, and support for members and community partners,” per a SEFCU news release.
This effort will create a new $8 billion credit union, which the organizations say will be the “largest financial institution in the Capital Region” based on local deposits, and one of the top five credit unions in the state. The unified financial institution will also become one of the 30 largest credit unions in the nation, SEFCU said.
About the credit unions
Established in 1934, SEFCU is among the 50 largest credit unions in the U.S. with more than $5 billion in assets, over 350,000 members, and more than 50 branches in the Albany, Binghamton, Syracuse, and Buffalo areas.
CAP COM is a member-owned financial institution with more than $2 billion in assets and 12 branch locations, all in the Capital Region. The credit union was established in 1953 and has more than 140,000 members.
Tompkins promotes Dresser to mortgage-loan officer
ITHACA, N.Y. — Tompkins Trust Company recently announced it has promoted Kristina Dresser to residential mortgage-loan officer. With 15 years of experience in the financial industry, Dresser has served as assistant branch manager of Tompkins Trust Company’s Trumansburg office for six years. In her new role, Dresser will be responsible for assisting customers throughout their
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ITHACA, N.Y. — Tompkins Trust Company recently announced it has promoted Kristina Dresser to residential mortgage-loan officer.
With 15 years of experience in the financial industry, Dresser has served as assistant branch manager of Tompkins Trust Company’s Trumansburg office for six years. In her new role, Dresser will be responsible for assisting customers throughout their home-buying process.
“We’re so excited to have Kristina continue her Tompkins career by joining the mortgage department. Her many years of experience in banking coupled with her knowledge and involvement in the community make her a true asset to anyone looking to finance their home,” Stacy Merrill, Tompkins Trust’s residential mortgage-lending manager, said in a release.
Dresser is a notary public and holds a mortgage-processing certification.
Founded in 1836, Tompkins Trust Company has 12 branches in Tompkins County and the Cortland, Auburn and Syracuse areas. It is part of the financial-services company, Tompkins Financial Corp. (NYSE: TMP), which is based in Ithaca.
Horizons FCU is now a division of Empower FCU
SYRACUSE, N.Y. — Horizons Federal Credit Union of Binghamton has merged its operations with Syracuse–based Empower Federal Credit Union in a deal that took effect Oct. 1. The signage at the four current Horizon branches and the one Empower location in the Southern Tier on Oct. 1 changed to Horizons, a division of Empower Federal
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SYRACUSE, N.Y. — Horizons Federal Credit Union of Binghamton has merged its operations with Syracuse–based Empower Federal Credit Union in a deal that took effect Oct. 1.
The signage at the four current Horizon branches and the one Empower location in the Southern Tier on Oct. 1 changed to Horizons, a division of Empower Federal Credit Union.
The boards of directors of both organizations approved the deal, Empower FCU announced in late August. It didn’t disclose any financial details of the merger agreement.
The merger of Empower and Horizons offers expanded services to Horizons FCU members and expanded branch and ATM access to Empower FCU members.
About the organizations
Empower FCU provides savings, loans, and other financial products to members in eight counties throughout New York. Empower operates 21 branches across upstate New York, per its website.
In 2007, the nonprofit resulted from a merger between Power and Empire credit unions to create Empower Federal Credit Union.
Horizons FCU — formerly the U.S. Employees Federal Credit Union — was established in Binghamton in 1937 for postal employees, per its website. In the early years, only federal employees and their immediate families were allowed to join. Since that time, the credit union added smaller credit unions through the merger process.
The name was changed to Horizons FCU in 1999 to “better identify us with our community and the diverse group we serve,” its website says.
Community Bank names Bacon commercial-banking team leader
BREWERTON, N.Y. — Community Bank N.A. announced it has recently promoted Ronald Bacon to VP and commercial-banking team leader. In his new role, Bacon will manage a portfolio of commercial-banking relationships, as well as a team of commercial bankers responsible for portfolio management and new business-development efforts throughout Jefferson, Lewis, and St. Lawrence counties. Bacon,
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BREWERTON, N.Y. — Community Bank N.A. announced it has recently promoted Ronald Bacon to VP and commercial-banking team leader.
In his new role, Bacon will manage a portfolio of commercial-banking relationships, as well as a team of commercial bankers responsible for portfolio management and new business-development efforts throughout Jefferson, Lewis, and St. Lawrence counties.
Bacon, who resides in Brewerton, has 39 years of experience in the banking industry. He first joined Community Bank as VP, senior commercial-banking officer in 2007. Before that, he held numerous banking positions with HSBC, KeyBank, and Chase Bank.
“We’re excited for Ronald to take on this expanded role within our Northern New York market,” Jeff Lord, commercial-banking sales manager at Community Bank, said in a release. “His industry experience and in-depth financial knowledge are invaluable assets which will continue to provide professional support for our business banking service and expansion efforts.”
Bacon earned his bachelor’s degree in economics from St. Lawrence University. He is a member of the Finance Accounting Advisory Committee at SUNY Canton, North County Alliance Loan Review Committee, and board member of CITEC Inc.
Community Bank N.A. (NYSE: CBU) is part of DeWitt–based Community Bank System Inc., which operates more than 215 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts.
Pathfinder to pay Q3 dividend of 7 cents in early November
OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), holding company for Pathfinder Bank, recently declared a quarterly cash dividend of 7 cents a share on its common stock for the fiscal quarter ending Sept. 30. The dividend will be payable to all Pathfinder shareholders of record on Oct. 15 and will be paid on Nov. 5,
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OSWEGO — Pathfinder Bancorp, Inc. (NASDAQ: PBHC), holding company for Pathfinder Bank, recently declared a quarterly cash dividend of 7 cents a share on its common stock for the fiscal quarter ending Sept. 30.
The dividend will be payable to all Pathfinder shareholders of record on Oct. 15 and will be paid on Nov. 5, the banking company announced in a news release.
At Pathfinder’s current stock price, the dividend payment yields about 1.75 percent on an annual basis.
Pathfinder Bank is a New York State-chartered commercial bank headquartered in Oswego that has 10 full-service branches located in its market areas of Oswego and Onondaga counties and one limited-purpose office in Oneida County. Thomas W. Schneider is Pathfinder’s president and CEO.
Northern Credit Union campaign supports Carthage Area Hospital Foundation
CARTHAGE, N.Y. — Watertown–based Northern Credit Union recently presented the Carthage Area Hospital Foundation (CAHF) with a check for $2,050 from its reopening campaign for its relationship center in Carthage. The Sept. 14 presentation followed the credit union’s campaign in which anyone who opened a new checking account or loan would be able to choose
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CARTHAGE, N.Y. — Watertown–based Northern Credit Union recently presented the Carthage Area Hospital Foundation (CAHF) with a check for $2,050 from its reopening campaign for its relationship center in Carthage.
The Sept. 14 presentation followed the credit union’s campaign in which anyone who opened a new checking account or loan would be able to choose from a list of local nonprofits to receive $50 each.
It’s the second donation that Northern Credit Union has provided Carthage Area Hospital Foundation this year, the hospital said.
“The Carthage Area Hospital Foundation is elated to receive the most recent donation from Northern Credit Union,” Taylour Scanlin, foundation & marketing executive director at Carthage Area Hospital, said. “It’s clear just how much they support our local community. On behalf of our staff and board of directors, we thank them for their continued generosity. We’re also incredibly grateful to all those who chose the CAHF as their preferred organization of choice for their donation. We rely on the support of our donors and this donation is incredibly appreciated,”
Donations to the Carthage Area Hospital Foundation directly support the needs and initiatives of Carthage Area Hospital. They include new equipment purchases to health-care scholarships, along with other capital expenses. The CAHF is preparing to launch a new capital campaign to support the hospital’s replacement project.
The Carthage Area Hospital Foundation is a nonprofit, charitable corporation established in 1994 that promotes charitable gifts to ensure “continued excellence” in community health care.
Carthage Area Hospital was established as a not-for-profit rural community hospital in 1965. It operates today as a 25-bed hospital, serving about 83,000 residents in Jefferson, northern Lewis, and southern St. Lawrence counties. The hospital formed a clinical affiliation with Crouse Health in Syracuse in 2017.
Community Bank purchase of ESB to give it Southern Tier boost
DeWITT, N.Y. — Community Bank System, Inc.’s (NYSE: CBU) recently announced $83 million agreement to acquire Elmira Savings Bank (ESB) will strengthen and deepen its reach in the Southern Tier, particularly the Corning-Elmira-Ithaca corridor. DeWitt–based Community Bank System announced Oct. 4 that it would acquire ESB (NASDAQ: ESBK), which has total assets of nearly $649
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DeWITT, N.Y. — Community Bank System, Inc.’s (NYSE: CBU) recently announced $83 million agreement to acquire Elmira Savings Bank (ESB) will strengthen and deepen its reach in the Southern Tier, particularly the Corning-Elmira-Ithaca corridor.
DeWitt–based Community Bank System announced Oct. 4 that it would acquire ESB (NASDAQ: ESBK), which has total assets of nearly $649 million, in a cash deal worth $82.8 million. Under the purchase terms, shareholders of ESB will receive $23.10 in cash for each share of common stock they own. Community Bank says it will use its existing on-hand cash balances to fund the purchase price.
Elmira Savings Bank has 12 branches across a five-county area, and it has a top-5 deposit market share in three counties (Chemung, Tompkins, and Schuyler).
ESB offers a “highly complementary franchise with a consistent performance track record,” Community Bank System said in an Oct. 4 presentation to investors. Specifically, ESB has delivered a consistent net interest margin in the 3 percent to 3.3 percent range for the last five years. Additionally, the bank’s net charge offs of bad loans have averaged less than 0.5 percent since 2017.
ESB also offers “diverse revenue sources” supported by a strong residential-mortgage business, the presentation stated. The bank’s $464 million loan portfolio is comprised of residential mortgages (63 percent), commercial real estate (23 percent), consumer loans (7 percent), and commercial and industrial loans (7 percent).
Community Bank System expects the acquisition to add 8 cents per share to its 2022 GAAP earnings and 9 cents a share to its cash earnings, excluding one-time transaction costs. It further expects the purchase to add 15 cents a share to its 2023 GAAP earnings and 16 cents per share to cash earnings, excluding one-time transaction costs.
The acquisition is slated to close in the first quarter of 2022. After the deal’s completion, the combined banking company is expected to have more than $15.4 billion in assets. Elmira Savings Bank will merge into Community Bank, NA, the main banking subsidiary of Community Bank System, which operates more than 215 branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts.
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