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Community Bank System hires Karaivanov to oversee non-banking units
Investment-banking veteran was Community’s financial advisor DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) recently announced that it has hired an experienced investment banker who helped advise it on mergers and acquisitions (M&A). The DeWitt–based banking company said Dimitar Karaivanov will be joining as its new executive VP of financial services and corporate development, […]
State launches new office of financial inclusion and empowerment
Linda Lacewell, superintendent of financial services, has also announced Tremaine Wright — previous representative for the 56th district of the New York State Assembly — as the office’s first director. “This office will advance the Department’s strategic financial inclusion initiatives, beginning with an inventory of services available from community organizations, advocacy groups, and industry across
NYCUA’s Mellin applauds NCUA offering relief to credit unions
The board of directors of the National Credit Union Administration (NCUA) on April 16 approved an interim final rule that will provide important financial relief and flexibility to credit unions. That’s according to an April 19 posting on the New York Minute blog on the New York Credit Union Association (NYCUA) website. In a message to
Alternatives to make $2.5M in business loans in next 3 years in Schuyler County
ITHACA, N.Y. — Alternatives Federal Credit Union of Ithaca announced it plans to make more than $2.5 million business loans throughout Schuyler County over the next three years. The financing will help support both existing businesses and help build new business enterprises, Alternatives said in an online news release. Eligible applicants must fall within the
Chemung Canal Trust gets approval for new branch near Buffalo
ELMIRA, N.Y. — Chemung Canal Trust Company, a unit of Chemung Financial Corp. (NASDAQ: CHMG), on March 25 received approval from the New York State Department of Financial Services (DFS) to open and operate a new branch office in the town of Clarence in Erie County. “With the COVID-19 pandemic financially squeezing New Yorkers and
VIEWPOINT: Post-Pandemic Money Moves: Financial Considerations For Business Owners & Leaders
The COVID-19 pandemic inflicted unforeseen hardship on countless businesses across New York state and beyond, causing many business owners to tap into personal savings or retirement accounts to endure the devastating economic fallout. For many of these business owners, the impact of the pandemic forced tough decisions that have come at the cost of self-sacrifice to remain
AmeriCU Credit Union offering certified financial counselors
ROME, N.Y. — AmeriCU Credit Union recently announced the certification of 12 credit union financial counselors. To earn certification, an individual must complete required examinations as provided by the Credit Union National Association’s Financial Counseling Certification Program (FiCEP), AmeriCU said in an online news release. These counselors are available to provide AmeriCU members with personalized
M&T Bank profit jumps in Q1 compared to year-ago quarter
BUFFALO, N.Y. — M&T Bank Corp. (NYSE: MTB), the largest bank ranked by deposits in Central New York, reported net income of $447 million in the first quarter, up 66 percent from nearly $269 million in the same quarter in 2020. The Buffalo–based banking company reported earnings per share of $3.33 in the first quarter,
Tioga State Bank CEO named chair of Independent Community Bankers of America
SPENCER, N.Y. — Robert Fisher, president and CEO of Tioga State Bank, N.A. (TSB), has been elected chairman of the Washington, D.C.–based trade group, the
NBT names Schindler, Clark to Southern Tier Advisory Board
Schindler has been president and CEO of Golden Artist Colors, Inc. since 2001. She joined the company in 1997 as controller and also served as
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