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Five Star Bank parent company boosts quarterly dividend
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is raising its quarterly dividend by nearly 4 percent. The banking company will pay a quarterly cash dividend of 27 cents a share per common share outstanding for the first quarter, up from the 26 cents a share it […]
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WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is raising its quarterly dividend by nearly 4 percent.
The banking company will pay a quarterly cash dividend of 27 cents a share per common share outstanding for the first quarter, up from the 26 cents a share it paid for the fourth quarter.
Financial Institutions said it will pay the new, higher dividend on April 2, to shareholders of record on March 19.
“Our Board’s confidence in the Company’s strategy and earnings potential support this increase,” Martin K. Birmingham, Financial Institutions president and CEO, said in a Feb. 25 statement. “Today’s announcement represents our 11th consecutive annual dividend increase and demonstrates a strong commitment to shareholder return.”
At the banking company’s current stock price, the new dividend yields about 3.95 percent on an annual basis.
Five Star Bank, based in Warsaw in Wyoming County, has more than 45 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Seneca Falls, Geneva, Ovid, Horseheads, and Elmira.
Financial Institutions and its subsidiaries employ about 600 people.
Syracuse one-bedroom apartment rent prices edge up in latest month, according to March Zumper report
SYRACUSE, N.Y. — The median rental price for most apartments in the Syracuse metro area rose more than 1 percent from the prior month and year-ago period, according to the March 2021 Zumper National Rent Report. The median rental price of one-bedroom apartments in the Syracuse region was $850 in the latest month, up 1.2
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SYRACUSE, N.Y. — The median rental price for most apartments in the Syracuse metro area rose more than 1 percent from the prior month and year-ago period, according to the March 2021 Zumper National Rent Report.
The median rental price of one-bedroom apartments in the Syracuse region was $850 in the latest month, up 1.2 percent from the $840 median price registered both a month ago and a year earlier, according to Zumper, an apartment-rental listings website.
The median rental rates for two-bedroom units in the area was $980 in the March report, up 1 percent from $970 the previous month and 2.1 percent higher than $960 a year prior.
Syracuse now ranks tied for the 79th most expensive rental market (or tied for 21st least expensive) among the top 100 markets in the nation, per the report. It is tied with Des Moines, Iowa.
The Zumper National Rent Report analyzes rental data from more than 1 million active listings across the U.S. The company aggregates the data monthly to calculate median asking rents for the top 100 metro areas by population.
Broome County hotel occupancy rate drops nearly 25 percent in January
BINGHAMTON, N.Y. — Hotels in Broome County welcomed fewer guests in January than in the year-ago month amid the ongoing coronavirus pandemic, according to a recent report. The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 24.6 percent to 30.6 percent in January, according to STR, a Tennessee–based
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BINGHAMTON, N.Y. — Hotels in Broome County welcomed fewer guests in January than in the year-ago month amid the ongoing coronavirus pandemic, according to a recent report.
The hotel occupancy rate (rooms sold as a percentage of rooms available) in the county declined 24.6 percent to 30.6 percent in January, according to STR, a Tennessee–based hotel market data and analytics company. It was the 12th consecutive monthly decrease in occupancy.
Broome County’s revenue per available room (RevPar), a key industry gauge that measures how much money hotels are bringing in per available room, plunged 32.6 percent to $22.22.
Average daily rate (or ADR), which represents the average rental rate for a sold room, was down 10.6 percent to $72.56 in January.
LeChase Construction Services, LLC
LeChase Construction Services, LLC has promoted JUSTIN BROWN to regional safety manager in Syracuse. Brown will ensure the company’s safety program across all job sites in Central New York. Specifically, he will lead efforts around safety training, tracking, and reporting. Brown will also ensure operations across the area comply with site-safety plans and applicable regulatory
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LeChase Construction Services, LLC has promoted JUSTIN BROWN to regional safety manager in Syracuse. Brown will ensure the company’s safety program across all job sites in Central New York. Specifically, he will lead efforts around safety training, tracking, and reporting. Brown will also ensure operations across the area comply with site-safety plans and applicable regulatory standards, and act as a liaison to clients and subcontractors on matters related to health, safety, and the environment. He started his construction career in 2008. Brown joined LeChase as a project engineer in 2017 and was named an assistant superintendent in 2019. In 2020, Brown earned a Construction Safety Professional Certificate from the RIT OSHA Training Institute Education Center. This required completion of a 70-hour curriculum covering industrial hygiene, occupational and health standards for construction, hazard awareness, and other topics.
LAIRD UPDYKE has been promoted to project executive at LeChase in Syracuse. He will manage multiple projects for core clients, with accountability for quality, value, and safety, as well as responsibility for overseeing recruitment and training of project employees. Updyke joined LeChase as a senior project manager in 2018. He has more than 20 years of project management and facilities-management experience, largely in Syracuse and Central New York. He earned a bachelor’s degree in construction management and an associate degree in architectural engineering, both from Alfred State College. Updyke currently serves as an advisory board member for the school’s construction management program.
JASON THORYK has been promoted to inside sales representative at Erie Materials in Syracuse. The firm is a regional distributor of building materials in New York and Pennsylvania. He started as a summer associate in 2018, then joined the warehouse staff in September 2018. ADAM THORYK was also promoted to a full-time inside sales position
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JASON THORYK has been promoted to inside sales representative at Erie Materials in Syracuse. The firm is a regional distributor of building materials in New York and Pennsylvania. He started as a summer associate in 2018, then joined the warehouse staff in September 2018.
ADAM THORYK was also promoted to a full-time inside sales position at Erie Materials in Syracuse. He joined the company in June 2019 as a warehouse worker and assisted at the sales counter.
STEFEN BURT has recently joined the inside sales staff of the company in Syracuse after previously serving in other positions. He started at Erie Materials in 2001, working in the Syracuse warehouse, then was promoted to commercial inside sales in 2008.
PAT CONNORS was named purchasing agent in the Erie Materials corporate office in Syracuse. He joined the firm in 2006 as a warehouse worker in Syracuse, then was soon selected as branch administrator.
ALYSA FIUMARA has recently joined the company as branch administrator at the Syracuse branch.
Security Mutual Life’s board of directors recently announced the promotion of three officers. MARY C. WARD was elevated to senior VP and controller. She is responsible for overseeing the company’s fiscal functions, including financial reporting, financial operations, payroll reporting, tax reporting, agent commission reporting, and supporting the company’s financial initiatives. Ward began her career with
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Security Mutual Life’s board of directors recently announced the promotion of three officers.
MARY C. WARD was elevated to senior VP and controller. She is responsible for overseeing the company’s fiscal functions, including financial reporting, financial operations, payroll reporting, tax reporting, agent commission reporting, and supporting the company’s financial initiatives. Ward began her career with Security Mutual Life in 2008, joining the financial operations department as director of financial reporting. She advanced to a number of positions within that department, and in 2017 she was appointed VP of financial operations. Ward is currently a member of the Binghamton University School of Management Advisory Board, serves on the board of the UHS Foundation, and is a trustee of the Security Mutual Life Foundation.
HEATHER H. ZEBROWSKI has been promoted to senior VP, chief human resources and diversity & inclusion officer. Her major areas of human-resources responsibilities include talent management, workforce planning and development, regulatory compliance, performance, employee relations, compensation, employee benefits, and leading the company’s human-resources initiatives. Zebrowski began her career with Security Mutual in 2007 as a human-resources generalist. She advanced to several positions within the human resources department, and in 2017 was named VP of human resources. Zebrowski has earned an executive certificate in human resources leadership from Cornell University’s School of Industrial and Labor Relations, and she has also earned her Professional in Human Resources (PHR) certification.
JEFFREY M. JACOBS has been promoted to VP, assistant general counsel, chief compliance officer and privacy officer. He is responsible for providing legal counsel and advice to the company’s executive management, officers, and employees on all areas of company operations. In his new position, Jacobs will assume the role of chief compliance officer and will continue to serve as the company’s privacy officer. Jacobs joined Security Mutual in 2017 as VP and assistant general counsel, and he has successfully completed the requirements to earn his Chartered Life Underwriter (CLU) designation from the American College of Financial Services. Jacobs is admitted to practice law in New York and is a member of the Broome County and New York State Bar Associations.
Mohawk Valley Community Action Agency, Inc. (MVCAA) has named DARLENE MACK-BROWN the agency’s community engagement director. She replaces Venice Ervin who recently retired from the agency. Mack-Brown has been active with the anti-poverty agency for many years, serving as the board chair from 2010-2013. The past VP of the Utica/Oneida County Branch NAACP, she currently
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Mohawk Valley Community Action Agency, Inc. (MVCAA) has named DARLENE MACK-BROWN the agency’s community engagement director. She replaces Venice Ervin who recently retired from the agency. Mack-Brown has been active with the anti-poverty agency for many years, serving as the board chair from 2010-2013. The past VP of the Utica/Oneida County Branch NAACP, she currently serves on the Alumni Association Board and the Foundation Board of Mohawk Valley Community College. An active member of the Mohawk Valley Frontiers International and St. Matthew’s Temple COGIC, her service to the community has also been acknowledged by the YWCA (Salute to Outstanding Women), Mohawk Valley Frontiers International (Dr. Martin Luther King Jr. Award for Outstanding Community Service), New York State Women, Inc. (Woman of the Year), Partnership for Nonprofit Enterprise Excellence (Not For Profit Board Leadership Seminar Program Award), and N.I.A. of Utica (Outstanding Community Service Award).
The YMCA of Central New York has named BERTRAM L. LAWSON, II the organization’s next president and CEO. He stepped into this role on Feb. 8. Lawson previously served as the chief operating officer for Mastery Charter Schools Network (Philadelphia, Pennsylvania and Camden, New Jersey), a $250 million nonprofit organization, overseeing all aspects of non-instructional
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The YMCA of Central New York has named BERTRAM L. LAWSON, II the organization’s next president and CEO. He stepped into this role on Feb. 8. Lawson previously served as the chief operating officer for Mastery Charter Schools Network (Philadelphia, Pennsylvania and Camden, New Jersey), a $250 million nonprofit organization, overseeing all aspects of non-instructional school operations, school budgets, sports/extra-curricular programming, and student enrollment for 24 campuses. Prior to this role, he was recruited by the Y in Central Maryland to serve as its senior VP of operations providing leadership to three health/wellness centers, 20 camping (day & resident) locations, youth development, 20 community schools and mentoring programs while supervising two VPs and a district executive director. Lawson also served the Y for more than 21 years, including in Philadelphia, with significant operational, membership, grant delivery, partnership, fundraising, and program experience. He holds a bachelor’s degree from Lincoln University and is currently working toward an MBA from Wilmington University. Lawson holds multiple Y-USA certifications and is a graduate of Y-USA’s Multicultural Executive Development Institute and C-Suite Next Level Coaching Programs.
CEO FOCUS: Small Businesses Prioritized with Recent PPP Changes
Since the beginning of the pandemic, our team has actively worked with local, state, and federal leaders to advocate for the resources that will have the most impact on the ability of the business community to successfully recover. We know that small businesses are among the hardest hit by the economic crisis. They are also employers of
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Since the beginning of the pandemic, our team has actively worked with local, state, and federal leaders to advocate for the resources that will have the most impact on the ability of the business community to successfully recover. We know that small businesses are among the hardest hit by the economic crisis. They are also employers of our workforce, a source of new private-sector jobs, and they sustain the vibrancy of our communities. Ensuring their vitality is critical to our forward progress. With this in mind, I want to highlight changes made to the Paycheck Protection Program (PPP) [recently] that target small businesses.
[On Feb. 24], a 14-day exclusivity period began, where PPP applications will be limited to businesses with fewer than 20 employees. This effort intends to reduce disparities in funding access and will allow lenders to focus on providing more financial support to the smallest of businesses, including sole proprietors, independent contractors, and self-employed individuals. Of these businesses, those without employees are 70 percent owned by women and people of color. These businesses have been disproportionately impacted by the pandemic and have often struggled to access recovery resources. The loan-calculation formula will also be revised to offer more relief to these applicants.
The updated program also includes: a $1 billion set-aside for sole proprietors, independent contractors, and self-employed individuals in low- and moderate-income areas; eliminates the restriction preventing small-business owners previously convicted of non-fraud felonies from eligibility; removes the student-loan-delinquency restriction for small business owners; and ensures access for non-citizen small-business owners who are lawful U.S. residents. The PPP is still scheduled to close for all applicants March 31, 2021.
Our team stands ready to help your business navigate these changes and other questions you may have about resources. Please contact us at support@centerstateceo.com for assistance. Additionally, we have complied a list of additional federal, state, local, and other resources available for businesses on our website: https://www.centerstateceo.com/business-resources/covid-19-business-resources.
Robert M. Simpson is president and CEO of CenterState CEO, the primary economic-development organization for Central New York. This article is drawn and edited from the “CEO Focus” email newsletter that the organization sent to members on Feb. 25.
VIEWPOINT: Nearly Half the Workforce is Exhausted From Meeting on Camera
As employees continue to be forced home during the pandemic, nearly half of them are reporting high levels of exhaustion, a new study has found. The study was conducted by Virtira Consulting and reveals that 49 percent of employees experience a high degree of exhaustion from being required or pressured to be on camera during online meetings.
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As employees continue to be forced home during the pandemic, nearly half of them are reporting high levels of exhaustion, a new study has found.
The study was conducted by Virtira Consulting and reveals that 49 percent of employees experience a high degree of exhaustion from being required or pressured to be on camera during online meetings.
The “Webcam Survey: Exhausted or Engaged?” provides insights from more than 1,700 managers and employees about the direct impact that company policies on the use of video during online meetings have on the well-being of employees. The survey also examines whether other factors contribute to the high incidence of reported employee exhaustion.
As businesses adapt and learn from the remote-work experiment, many have implemented policies regarding remote work based on opinion rather than data — causing a negative impact on employees.
Our research shows the impact that remote work and COVID-19 have had on how managers are meeting with their teams. In my conversations with business leaders throughout the pandemic, the majority said that employees on webcams during meetings increased engagement and productivity, but our study clearly shows it can have the opposite effect.
The survey comes at a time when remote work is increasingly a mainstay of business life around the globe due to the COVID-19 pandemic.
Especially with up to 80 percent of businesses reporting that they will move toward a fully remote or hybrid/flex model in the future, understanding what policies create effective and productive work-from-home employees and office-based workers is going to be critical moving forward — if businesses want to increase productivity and move beyond the pandemic.
For additional results, visit the survey page at https://virtira.com/resources/webcam-survey-excutive-summary/. To view the full analysis, you can read the report at https://info.virtira.com/webcam-survey.
The key findings reveal the following:
• More than 49 percent of individuals report being exhausted due to being on a webcam. With current estimates of over 25 million employees working at home and another 41 million at the office or in a flexible commuting arrangement, this means that the rate of exhaustion could exist in more than 30 million people;
• 61 percent of those surveyed reported that all meetings they attend are conducted on video for all participants;
• More than 60 percent of respondents reported that the number of meetings they attend has increased significantly since the pandemic;
• Over 65 percent of responses indicate that being on video is best used for team engagement and connection; however, only 11 percent reported that the camera was used this way; and,
• More than 25 percent reported feeling peer pressure to turn on their cameras even if it was not a requirement.
Cynthia Watson (formerly Cynthia Spraggs) is CEO of Virtira Consulting (www.virtira.com), which provides advisory and professional services to some of the world’s largest companies to increase remote team productivity.
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