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New York Insurance Association names Preferred Mutual Insurance CEO to board
ALBANY — The New York Insurance Association (NYIA) recently announced it has elected R. Benedikt Sander, president and CEO of Preferred Mutual Insurance Company, to its board of directors for a term running through Dec. 31, 2026. Preferred Mutual has been a member of the NYIA since 1970, and Sander has been actively involved with […]
VIEWPOINT: IRS Clarifies 403(b) Plans’ Obligations to Part-Timers
On Oct. 3, 2024, the Internal Revenue Service (IRS) released important guidance on the obligations of 403(b) plan sponsors to their part-time employees. Under recently passed legislation that is effective Jan. 1, 2025, a long-term, part-time (LTPT) employee — one who works 500 or more hours in each of two consecutive years — must be
Excellus BCBS, FamilyCare Medical Group reach contract agreement
DeWITT, N.Y. — Excellus BlueCross BlueShield (Excellus BCBS) and Syracuse–based FamilyCare Medical Group (FCMG) on Thursday announced a new contract agreement effective Jan. 1, 2025.
Investor group plans to buy Cazenovia College campus
CAZENOVIA, N.Y. — A group of local investors known as 9 Fresh has plans to purchase the campus of Cazenovia College, which closed due to
The Summit Federal Credit Union names Ortiz to board of directors
ROCHESTER, N.Y. — The Summit Federal Credit Union (The Summit) — which has 93,000 active members in Central New York, the Finger Lakes, and Western New York — has appointed Orlando J. Ortiz to its board of directors. Ortiz brings significant experience in the real estate and manufacturing industries, as well as a dedication to
Preferred Mutual Insurance names two new board members
NEW BERLIN, N.Y. — Preferred Mutual Insurance Company recently announced the appointments of Laura M. Casamento and Nicole C. Woodall to its board of directors.
Dannible & McKee adds to Capital Region office with acquisition
SYRACUSE, N.Y. — Dannible & McKee, LLP, a Syracuse–based accounting firm, has added two employees to its Capital Region office following an acquisition. Patrick A. Arico, Jr., CPA, P.C., an accounting firm in Clifton Park in Saratoga County, is now part of Dannible & McKee following the acquisition deal that closed on Oct. 1, the
NBT Bancorp net income surges nearly 55 percent in Q3
NORWICH — NBT Bancorp Inc. (NASDAQ: NBTB), parent company of NBT Bank, N.A., reported strong third-quarter growth with net income of $38.1 million, or 80 cents per share, up 54.9 percent from $24.6 million, or 54 cents a share. Much of that growth is attributable to NBT’s acquisition of Connecticut–based Salisbury Bancorp, Inc., on Aug.
VIEWPOINT: Testimonials are a Winning Marketing Strategy for Financial Institutions
In an increasingly competitive financial sector, banks and credit unions are constantly seeking out best practices to build trust, grow “share of wallet,” and attract new customers. One effective and often underutilized tool in their marketing arsenal is the testimonial. Leveraging customer testimonials can significantly enhance credibility, foster trust, and differentiate financial institutions in a
Syracuse–based accounting firm acquires Capital Region business
SYRACUSE, N.Y. — Syracuse–based accounting firm Dannible & McKee, LLP on Tuesday said it’s acquired a Capital Region firm in a deal that became official on Oct. 1. Patrick A. Arico, Jr., CPA, P.C., an accounting firm in Clifton Park in Saratoga County, is now part of Dannible & McKee. “This strategic move aligns with
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