SYRACUSE — Richard Shirtz will become Syracuse regional president at NBT Bank after NBT Bancorp’s acquisition of Alliance Financial Corp. closes next year.
Shirtz, currently senior vice president and manager of the commercial banking group at Alliance, will remain based in Syracuse. He has more than 30 years of banking experience and was district president and senior vice president of commercial banking for Citizens Bank before joining Alliance in 2009.
Current Alliance President and CEO Jack Webb will join NBT’s management team following the acquisition as executive vice president for strategic support. He will also join the board of directors at NBT Bancorp.
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“Rick’s extensive banking experience and knowledge of Alliance customers and the Syracuse, Oswego, Oneida, and Cortland markets position him to successfully lead our efforts and build upon the strong foundation created by Alliance Bank,” NBT President and CEO Martin Dietrich said in a news release.
NBT, based in Norwich, announced plans to acquire Syracuse–based Alliance earlier this month in a deal worth more than $233 million.
NBT has $6 billion in assets and 135 branches in New York, Pennsylvania, Vermont, Massachusetts, and New Hampshire. The banking company also owns a 401(k) record keeping firm and an insurance agency.
Alliance has more than $1.4 billion in total assets and 28 branches in Cortland, Madison, Oneida, Onondaga, and Oswego counties. The company also owns an equipment lease financing company and operates an investment management administration center in Buffalo.
NBT will gain $890 million in net loans held for investment and $1.1 billion in deposits in the acquisition. The banks expect the deal to close in the second quarter of 2013.
Contact Tampone at ktampone@cnybj.com
