ELMIRA, N.Y. — The board of directors of Elmira Savings Bank (NASDAQ: ESBK) has appointed Thomas M. Carr as CEO. He has been serving as president and chief operating officer since April 2013. Carr first joined the bank in June 2000 as senior vice president and chief financial officer.
Carr succeeds Michael P. Hosey, formerly vice chairman and CEO, who is retiring from the bank after 30 years of service. Hosey has been elected as chairman of Elmira Savings Bank’s board of directors. During his 12 years as CEO, the bank’s assets have grown from $286.4 million to $517.6 million, profitability has improved significantly, and the number of branch locations has increased from six to 16, according to a banking company news release.
“Tom has played a major role in the development of a team of management and employees that are deep in talent and highly motivated to offer great service to our customers,” Hosey said of Carr in the release.
Elmira Savings Bank, with $517.6 million in total assets, is a state-chartered bank with six branches in Chemung County, three offices and a loan center in Tompkins County, two branches in Steuben County, one branch each in Cayuga and Schuyler counties, and one loan center each in Cortland and Broome counties.