NORWICH, N.Y. — The former CEO of NBT Bancorp is retiring as chairman of the NBT Bank and NBT Bancorp boards of directors.
Daryl Forsythe’s current term as director ends Tuesday, concluding an association with NBT that spans nearly 30 years, NBT Bank said in a news release issued Monday.
He had earlier retired as the bank’s CEO on Jan. 1, 2006, but has continued serving as chairman of both the bank and parent-company boards of directors since that time, NBT Bank said.
Forsythe joined the NBT Bank board of directors in 1988 and was elected to the NBT Bancorp board of directors in 1992.
He was elected chairman of the NBT Bank board in 1999 and the NBT Bancorp board in 2001.
In December 1994, Forsythe was named president and CEO of NBT Bank and NBT Bancorp at a “pivotal time in the organization’s growth and development,” the banking company contends.
Even though he hadn’t worked in the banking sector until that time, Forsythe “applied his nearly 30 years of management experience” in the aerospace industry to his new role, according to the news release.
Forsythe’s impact on NBT has been “tremendous,” Martin Dietrich, president and CEO of NBT Bancorp, said.
“During his tenure, the company has grown from a community bank with a local presence in Central New York to one of the leading financial-services organizations in the Northeast at a time when the banking industry has faced many historic challenges. On behalf of all NBT directors, our nearly 1,800 employees and our retirees, I extend our deeply-felt gratitude and appreciation for the dedication, leadership and vision Daryl has provided. He supported us in achieving many important milestones and has positioned NBT for ongoing success. In Daryl’s own words, I can truly say, ‘Our best years lie ahead,’” said Dietrich.
“Daryl’s commitment to NBT and his faithfulness to the company’s community banking values have been unwavering,” John Mitchell, NBT Bank director, added in the company news release. “He consistently focused on the quality of NBT’s efforts and never pursued growth for growth’s sake. NBT and the customers and communities we serve have benefited from his guidance and integrity as well as his passion for excellence.”
Both NBT Bank and NBT Bancorp (NASDAQ: NBTB) are headquartered in Norwich in Chenango County.
NBT Bank has a network of more than 155 bank branches in six states, including five offices in southern New Hampshire.
NBT Bancorp had assets of $8.5 billion as of March 31, the banking company said.
Contact Reinhardt at ereinhardt@cnybj.com
