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KeyCorp’s Q3 profit jumps 55 percent, beats analysts’ expectations
KeyCorp (NYSE: KEY) recently reported that its net income in the third quarter increased 55 percent to $616 million, or 65 cents per share, from $397 million, or 41 cents, in the year-ago period, driven by strong revenue growth, especially fee-based income. KeyCorp — based in Cleveland, Ohio — is parent of KeyBank, which ranks […]
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KeyCorp (NYSE: KEY) recently reported that its net income in the third quarter increased 55 percent to $616 million, or 65 cents per share, from $397 million, or 41 cents, in the year-ago period, driven by strong revenue growth, especially fee-based income.
KeyCorp — based in Cleveland, Ohio — is parent of KeyBank, which ranks No. 2 in deposit market share in the 16-county Central New York region.
Key’s earnings per share this quarter easily beat the consensus analyst estimate of 57 cents, according to Zacks Equity Research.
The banking company generated record total revenue of $1.82 billion in the third quarter, up 8 percent from the year-prior quarter. That topped the Zacks estimate of $1.76 billion. Key’s noninterest income was up 17 percent in the third quarter compared to the same quarter in 2020.
KeyCorp completed $593 million worth of repurchases of its common stock in the latest quarter.

NBT Bancorp boosts quarterly dividend by nearly 4 percent
NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a cash dividend of 28 cents per share for the fourth quarter. The payment is unchanged from the last quarter but up by 3.7 percent from 27 cents a share in the fourth quarter of 2020. The Norwich–based
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NORWICH, N.Y. — NBT Bancorp Inc. (NASDAQ: NBTB) recently announced that its board of directors has approved a cash dividend of 28 cents per share for the fourth quarter.
The payment is unchanged from the last quarter but up by 3.7 percent from 27 cents a share in the fourth quarter of 2020.
The Norwich–based banking company will pay the dividend on Dec. 15, to shareholders of record as of Dec. 1. The dividend represents a yield of about 3.05 percent based on NBT’s current stock price.
NBT Bancorp also reported that its net income rose 6.6 percent to $37.4 million in the third quarter from $35.1 million a year prior. The increase was primarily due to changes in the estimated impact of the COVID-19 pandemic on expected credit losses. The banking company’s earnings per share rose almost 7.5 percent to 86 cents in this year’s third quarter from 80 cents in the third quarter of 2020.
NBT Bancorp is a financial holding company with total assets of $12 billion as of Sept. 30. The banking company primarily operates through NBT Bank, N.A. — a full-service community bank with 140 branches in New York, Pennsylvania, Vermont, Massachusetts, New Hampshire, Maine, and Connecticut — and through two financial-services companies: EPIC Retirement Plan Services and NBT Insurance Agency.

CCNY Tech leases more than 16,000 square feet of space in New Hartford
NEW HARTFORD, N.Y. — CCNY Tech recently leased 16,099 square feet of space for its headquarters at 145 New Hartford St. in New Hartford. Mike Conley, Jeff D’Amore & James Furney from Cushman & Wakefield/Pyramid Brokerage Company helped negotiate the lease and arrange the transaction. Conley represented the landlord, while D’Amore and James Furney represented
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NEW HARTFORD, N.Y. — CCNY Tech recently leased 16,099 square feet of space for its headquarters at 145 New Hartford St. in New Hartford.
Mike Conley, Jeff D’Amore & James Furney from Cushman & Wakefield/Pyramid Brokerage Company helped negotiate the lease and arrange the transaction. Conley represented the landlord, while D’Amore and James Furney represented the tenant in the transaction, according to a news release from the real-estate firm.
CCNY Tech (formally Computer Connection of CNY, Inc./CCNY) says it is a systems integrator and reseller of IT infrastructure. The firm is an independent reseller of IT hardware from Sun/Oracle, Cisco, IBM, HP, Dell, and others. Scott Fluty is president and CEO of CCNY Tech.

Auburn’s new public-safety building project was a long-term effort
AUBURN, N.Y. — Auburn Mayor Michael Quill said the city’s new $10 million shared public-safety building has been “many, many years in the making.” Auburn, a 2018 winner of the state’s Downtown Revitalization Initiative (DRI), used a portion of its $10 million prize to “make it happen” Quill said. “With this project, we have moved
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AUBURN, N.Y. — Auburn Mayor Michael Quill said the city’s new $10 million shared public-safety building has been “many, many years in the making.”
Auburn, a 2018 winner of the state’s Downtown Revitalization Initiative (DRI), used a portion of its $10 million prize to “make it happen” Quill said.
“With this project, we have moved our main fire station, invested in improved emergency-management systems and revitalized a neighborhood on our downtown’s northern edge,” Quill said.
Auburn, the second largest city in Central New York, was named a DRI round 3 winner in July 2018.
Crews have finished work on the nearly 30,000-square-foot building that will house the City of Auburn Fire Department and the Cayuga County Emergency Operations Center.
The shared space provides emergency responders with “modern” amenities and equipment in Auburn’s downtown, Gov. Kathy Hochul announced.
The project site is located at 31 Seminary St., which sits at the intersection of Seminary Street and Nelson Street in the City of Auburn.
The New York State Department of Environmental Conservation’s (DEC) climate smart communities grant program provided the project $2 million, and the New York State Department of State granted $1.2 million as part of the DRI, Hochul’s office said.
A City of Auburn bond ordinance accounted for the remaining $6.8 million, according to the city’s website.
Hueber-Breuer Construction Company, Inc. of Syracuse served as the construction administration and management firm for this project, and Bivens + Associates Architects of Syracuse handled the design work, per the City of Auburn.
The project included fully renovating a 17,800-square-foot vacant urban strip mall and adding a newly constructed 11,800-square-foot apparatus bay to house Auburn Fire Department apparatus, safety equipment, training, and medical supplies and decontamination areas for firefighters.
The City of Auburn and Cayuga County have a joint resolution supporting the county’s Emergency Operations Center (EOC) operating from the new fire station. The new EOC will serve as a public-safety classroom for city and county police and emergency-management agencies on a day-to-day basis, per Hochul’s office. Officials can activate the EOC to respond to disasters or public-health emergencies.

Golden Artist Colors becomes 100-percent employee-owned
COLUMBUS, N.Y. — Golden Artist Colors, Inc., a global manufacturer of professional artist paints, recently announced that it has become a 100-percent employee-owned company. This transaction, which went into effect on Oct. 1, concludes a plan put in place in 2002, when the company implemented an employee stock-ownership plan (ESOP) for staff. By May 2010,
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COLUMBUS, N.Y. — Golden Artist Colors, Inc., a global manufacturer of professional artist paints, recently announced that it has become a 100-percent employee-owned company.
This transaction, which went into effect on Oct. 1, concludes a plan put in place in 2002, when the company implemented an employee stock-ownership plan (ESOP) for staff. By May 2010, employees’ ownership of the company had grown to a majority.
As a fully ESOP-owned company, each share of Golden Artist Colors’ stock is now held in trust by the ESOP exclusively for the benefit of the Golden employees.
“Implementing 100% ownership for staff is very unique and something our family has dreamt about since the company’s beginning,” Mark Golden, company CEO, said in a new release. “Time has demonstrated that companies with 100% employee ownership often see greater productivity, higher profitability, and increased revenue. These successes tend to continue over time, as employees have a vested interest in the sustainability and overall success of the company.”
Golden Artist Colors is a manufacturer of artist-quality materials including colors and mediums for painting in acrylics, oils, and most recently, watercolors. The company has a 100,000-square-foot facility in the town of Columbus in Chenango County and a 45,000-square-foot commercial warehouse and distribution center in Norwich, in the same county. Golden Artist Colors currently employs more than 200 people.

Syracuse University alum and wife donate $30 million for school’s IVMF
SYRACUSE, N.Y. — Daniel D’Aniello, a Syracuse University (SU) graduate and life trustee, and wife, Gayle, have donated $30 million to SU’s Institute for Veterans

Airtonomy looks ahead after winning Genius NY’s top prize
SYRACUSE, N.Y. — A business from Grand Forks, North Dakota recently captured the $1 million grand prize in round five of the Genius NY accelerator competition. Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York. The firm called Airtonomy, which was started in 2018 and has 25 employees, enables anyone to collect
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SYRACUSE, N.Y. — A business from Grand Forks, North Dakota recently captured the $1 million grand prize in round five of the Genius NY accelerator competition.
Genius NY stands for Growing ENtrepreneurs & Innovators in UpState New York.
The firm called Airtonomy, which was started in 2018 and has 25 employees, enables anyone to collect data uniformly using unmanned aircraft systems (UAS) or drones. It makes “complex flight as easy as pushing a button” so that a wind technician, security guard, or power lineman can operate a drone “safely and consistently, and collect data uniformly,” according to an Oct. 26 announcement from the office of Gov. Kathy Hochul, following that day’s final pitch event.
The company enables data to be collected and be processed automatically using machine learning and turned into “actionable intelligence” for an organization.
“Airtonomy is transforming the UAS landscape and is honored to be selected as the Genius NY 2021 winner. This award will fuel Airtonomy’s continued growth and will result in the hiring of local talent and the direct investment in the UAS ecosystem,” Joshua Riedy, founder and CEO of Airtonomy, said. “The Genius NY program, especially the amazing people and organizations involved, have been incredible. We look forward to reciprocating the support we’ve experienced with other startups in the region. Genius NY exemplifies the type of expertise, networking, and support crucial for the success of a startup. We’ve gotten to know the other finalists very well and every one of them is outstanding so we’re proud to be in their company.”
Besides Airtonomy, Airial Robotics of Hamburg, Germany; CarScanner of Krakow, Poland; Circle Optics of Rochester; and WindShape of Geneva, Switzerland were each awarded $500,000 investment prizes following the Oct. 26 round five virtual pitch event.
The teams will use their prize money to continue to accelerate their growth and expand their presence in the region.
The year-long Genius NY program is described as the “world’s largest” business competition focused on UAS, cross-connected platforms, and other technology-based sectors.
The Genius NY program, which is administered by CenterState CEO’s Tech Garden in Syracuse, offers participants incubator space, company resources, programming and mentoring.
To date, New York State has invested $25 million in Genius NY over five rounds of the competition. Genius NY participants are required to operate their business in Central New York for at least one year.
Since 2017, Genius NY companies have raised more than $73.5 million in follow-on funding and have created 60 jobs in the region. The advancement of the Genius NY program builds on the progress of CNY Rising, the region’s award-winning strategic plan to revitalize communities and grow the economy.

Rampage Strength & Conditioning finds permanent home
EAST SYRACUSE, N.Y. — Less than a day after seeing the potential permanent home for Rampage Strength and Conditioning for the first time, Ben Rayland, business owner and personal trainer, put in an offer. Rayland signed a seven-year lease on the 6,000-square-foot facility at 6519 Basile Row in East Syracuse in June and has been
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EAST SYRACUSE, N.Y. — Less than a day after seeing the potential permanent home for Rampage Strength and Conditioning for the first time, Ben Rayland, business owner and personal trainer, put in an offer.
Rayland signed a seven-year lease on the 6,000-square-foot facility at 6519 Basile Row in East Syracuse in June and has been training clients there since then. His specialty is youth programs — from 10 years old to college students, he says. And that was a primary factor in why Rayland knew so soon why the Basile Row location was right for his business.
Since starting Rampage as his first venture into business ownership in 2017, Rayland had been working as a sort of “independent contractor” in fitness, most notably running youth programs for the Village of Manlius until the COVID-19 pandemic temporarily scuttled those programs. No longer able to use the village’s facilities, Rayland says he found a temporary location to set up shop.
“But what happened was … having my own venue really made the opportunity to have the business expand a little bit,” he says in a phone interview with CNYBJ. That growth, fueled by the COVID-necessitated adjustment, was the inspiration for finding a permanent home.
The East Syracuse facility checks off an important box for Rayland because it is central to many of the largest school districts in the Syracuse area from which he pulls many of his students, unlike in Manlius. After seeing the facility for the first time from the outside, all he needed to confirm was that the interior space was conducive to fitness — i.e., that there were no pillars or support structures interrupting the open floor — before making an offer.
“And that’s exactly what happened,” he says. “I met with the realtor, I liked the place, and we had an offer in place before lunch.”
Rayland worked with Cushman Wakefield/Pyramid Brokerage agent Christopher Savage, both for finding his temporary location in Manlius and the permanent one in East Syracuse, he says. Rayland leases his space from Tordar Properties, LLC.
The new facility used to be occupied by JOH Commercial Flooring. Rayland has begun to make the space his own, carpeting what he calls the “warehouse” large, open area and putting down rubber flooring in the weight-room area.
Both sections of the building are part of his emphasis on strength, which Rayland says in an email is “the foundational principle of all my fitness philosophies.” That means that sessions include deadlifting, squatting, other weight training, acceleration/agility exercises, and more. Rayland likes to end youth sessions with games like handball or dodgeball, all made easier by the space the new location offers.
Rayland says he’s “pretty excited to be able to plant my roots somewhere for a while, because the nature of what I was doing before was so transient.” He adds, “I was always bringing my equipment to different venues — the commute all over town was growing a little tiresome.”
Rayland is currently the only trainer at Rampage but runs the business with his wife, Faith. Rayland says that Rampage was a dream they both had, and that Faith handles most of the behind-the-scenes operations like billing and marketing.
Now, more than four months after moving into his new space, Rayland continues to provide youth programs that keep him busy most evenings, particularly during the fall and spring school-sports seasons. He has also added adult classes on Saturday mornings. But the biggest difference between his work now and before, Rayland says, is that today he works both with kids who are athletes and non-athletes. He is also proud of a scholarship program called Rampage Cares, which can help families and kids in need access its fitness programs. Rayland says that strength training can build confidence and help kids in all aspects of life — a quote he likes to use is, “the strong person can move the piano and play the piano.”

Hiscock Legal Aid Society names Dewan next executive director
SYRACUSE, N.Y. — The Hiscock Legal Aid Society (HLA) announced that its board of directors has appointed Gregory W. Dewan as its next executive director.

Community Foundation appoints three to Black Equity & Excellence Fund Advisory Council
SYRACUSE, N.Y. — The Central New York Community Foundation recently announced it has welcomed three new members to its Black Equity & Excellence Advisory Council — Me’Shae Brooks-Rolling, Cal Corriders, and Lekia K. Hill. The advisory council is charged with reviewing grant proposals and making funding recommendations as well as “identifying gaps and opportunities to
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SYRACUSE, N.Y. — The Central New York Community Foundation recently announced it has welcomed three new members to its Black Equity & Excellence Advisory Council — Me’Shae Brooks-Rolling, Cal Corriders, and Lekia K. Hill.
The advisory council is charged with reviewing grant proposals and making funding recommendations as well as “identifying gaps and opportunities to create a more equitable and economically inclusive Central New York for the Black community,” the CNY Community Foundation said in a new release.
Brooks-Rolling is executive director of the Upstate Minority Economic Alliance (UMEA), CNY’s regional minority chamber of commerce. She is also a serial entrepreneur: franchise owner/operator of EventPrep NY and executive producer of the Financial Empowerment Summit, Syracuse’s first-ever financial-education conference. She is a certified educator in personal finance in conjunction with her micro-social enterprise, Just The Basics Financial Literacy. Me’Shae’s businesses are certified with the City of Syracuse and New York State.
Corriders currently serves as the manager of neighborhood economic development at CenterState CEO. In his role, he is focused on creating economic inclusion within Syracuse’s Southside neighborhoods through real estate and business development as well as workforce innovation. He previously worked in the banking industry, most recently at Pathfinder Bank, where he served as a mortgage originator, assisting people in acquiring residential properties. Corriders volunteers his time by sitting on boards like United Way of Central NY and The Stand newspaper, which tells stories from Southside Syracuse residents’ viewpoints.
Hill is the community outreach and diversity coordinator at Hueber-Breuer Construction, where she manages engagement and oversees MWBE utilization for company projects. Hill has 15 years of experience in sales and marketing for companies such as Wachovia, JP Morgan Chase, and Clear Channel. She recently launched an emerging tech startup, called Lekia Tech LLC, and founded Powerful Voices, an app that connects constituents with elected officials that drives to improve social and economic welfare in underserved communities.
The Community Foundation launched the Black Equity & Excellence Fund in June 2020 to support projects that encourage self-sufficiency and improve the physical and economic conditions that affect Black community members’ quality of life. It also seeks to encourage dialogue that will strengthen collaborative engagement on race-related matters and support social and educational growth in the community.
Other current members of the Black Equity & Excellence Fund Advisory Council are Jalyn Clifford, Bishop Ronald Dewberry, Dr. Tanisha M. Jackson, LaToya Jones, Naquia Lacey, and Minister Mark Muhammad.
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