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Community Bank wraps up Elmira Savings acquisition
DeWITT, N.Y. — The acquisition of Elmira Savings Bank by Community Bank System, Inc. (NYSE: CBU) does more than just add branches to its Community Bank, N.A. unit. The purchase brings a broader and deeper set of services to bank customers, says Mark E. Tryniski, president and CEO of Community Bank System, which is based […]
Ask Rusty: About Payroll Tax & Income Tax on Social Security
Dear Rusty: Is it possible for you to go over how the Federal withholding tax is computed on Social Security benefits? Signed: Curious Taxpayer Dear Curious: I’m not sure if you’re asking about how FICA (or self-employment) tax on your earnings from work is determined, or if you’re asking about how much income tax to
Carrols Restaurant Group reports net loss in 1st quarter
SYRACUSE, N.Y. — Carrols Restaurant Group, Inc. (NASDAQ: TAST), the nation’s largest Burger King franchisee, reported a net loss of more than $21 million, or
People news: Lyons National Bank adds commercial-loan officer in Auburn
AUBURN, N.Y. — Lyons National Bank (LNB) recently hired Todd L. Borsa as assistant VP, commercial-loan officer in its Auburn offices. Borsa, an Auburn native,
Community Bank System completes nearly $83M acquisition of Elmira Savings Bank
DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU), parent company of Community Bank, N.A., has wrapped up its $82.8 million, all-cash acquisition of Elmira
Buffalo private-equity firm acquires ICM Controls
CICERO, N.Y. — ICM Controls, Inc. of Cicero and its affiliates are now under the ownership of Lorraine Capital, LLC, a Buffalo–based private-equity firm. ICM Controls is a manufacturer of electronic control products. ICM, which has about 300 employees, is based in Cicero at 7313 William Barry Blvd., off East Taft Road. Lorraine Capital acquired
State employee arrested for trying to scam state retirement system out of more than $4,000
New York State Comptroller Thomas P. DiNapoli and the New York State Police announced on May 3 that a former New York State Department of Education employee — Shannon Brady, 52, of Albany — was arrested. Brady allegedly falsely claimed to the New York State and Local Retirement System (NYSLRS) that she never received a
Tompkins Financial pays Q2 dividend of 57 cents
ITHACA, N.Y. — Tompkins Financial Corp. (NYSE: TMP) recently announced that its board of directors approved payment of a regular quarterly cash dividend of 57 cents per share for the second quarter. The dividend is payable on May 16, to common shareholders of record on May 10. The dividend is the same amount that the
Wheels are in motion for Binghamton entrepreneur
BINGHAMTON, N.Y. — The owner of Chenango Point Cycles in Binghamton has taken his love for bicycling and purchased a business that focuses on that activity. His efforts also earned him recognition as the 2022 Small Business Person of the Year Award from the Upstate New York District of the U.S. Small Business Administration (SBA).
Home HeadQuarters awarded nearly $400K in federal funding for neighborhood development, job creation
SYRACUSE, N.Y. — Home HeadQuarters Inc. will use new federal funding of $387,000 to develop and preserve affordable housing, revitalize neighborhoods, and create jobs in
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