ELMIRA — Chemung Canal Trust Co. announced Oct. 17 that Karl F. Krebs has joined the bank’s management team as chief financial officer and treasurer. He was also appointed CFO and treasurer of parent company Chemung Financial Corp. (NASDAQ: CHMG). Krebs, who has more than 30 years of banking experience, began his career in 1982 […]
ELMIRA — Chemung Canal Trust Co. announced Oct. 17 that Karl F. Krebs has joined the bank’s management team as chief financial officer and treasurer.
He was also appointed CFO and treasurer of parent company Chemung Financial Corp. (NASDAQ: CHMG).
Krebs, who has more than 30 years of banking experience, began his career in 1982 and most recently served as CFO of Financial Institutions Inc. and subsidiary Five Star Bank, in Warsaw, N.Y.
Krebs replaces John R. Battersby, Jr., who had come out of retirement in mid-September to serve as Chemung’s interim CFO and treasurer, after Mark A. Severson left to take the CFO job at Cordia Bancorp Inc. (NASDAQ: BVA), parent of Bank of Virginia.
Krebs earned a bachelor’s degree in accounting from Canisius College and an MBA, with a concentration in finance and accounting, from SUNY Buffalo.
Krebs’ annual base salary will be $200,000, the bank said in a U.S. Securities & Exchange Commission regulatory filing.
During his banking career, he has held management positions at Goldome Bank, Key Corp, National City, and HSBC, before joining Financial Institutions and Five Star Bank.
Elmira–based Chemung Canal Trust currently operates 23 full-service banking offices in Broome, Chemung, Schuyler, Steuben, Tioga, and Tompkins counties in New York and Bradford County in Pennsylvania. It also operates five full-service banking offices under the name Capital Bank in Albany and Saratoga counties.
On Nov. 22, Chemung Canal Trust is expected to complete the acquisition of six Bank of America branches in Central New York, expanding its presence in Tompkins County, while entering new markets in Cayuga, Cortland, and Seneca counties.
Started in 1833, Chemung Canal Trust is the oldest locally owned and managed community bank in New York state. Chemung Financial is also the parent of CFS Group, Inc., a financial-services subsidiary offering mutual funds, annuities, brokerage services, tax-preparation services, and insurance.
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