Community Bank announces plans for new corporate headquarters

DeWITT, N.Y. — Community Bank on Friday announced it will relocate its corporate headquarters and data center from 5790 Widewaters Parkway to 333 Butternut Drive in 2025.

The seven-story, 200,000-square-foot, building at 333 Butternut Drive will include new amenities including a corporate learning and development center, information-technology data center, café, executive suite, and boardroom facilities.

“As we continue to grow in key markets like Syracuse, we knew we needed a more collaborative space to work together more efficiently,” incoming CEO Dimitar Karaivanov said in a press release announcing the plans. “Central New York is home for Community Bank, and we’re excited for the new opportunities this facility will bring for our employees, customers, and the Syracuse community.”

Community Bank System, Inc., (NYSE: CBU) announced earlier this year that president and CEO Mark Tryniski will retire at the end of 2023, with Karaivanov stepping into the role on Jan. 1, 2024.

The company has $15.4 billion in assets. Its four main business lines are banking through its Community Bank, N.A. subsidiary; benefits administration through its Benefit Plans Administrative Services, Inc., subsidiary; insurance services through its OneGroup NY, Inc. subsidiary; and wealth management through its Community Bank Wealth Management operating unit.

Community Bank has more than 200 locations across New York, Pennsylvania, Vermont, and Massachusetts.