Joseph F. Serbun, president of retail banking at Community Bank will retire after more than 14 years of service. In addition, Community Bank promoted Dimitar Karaivanov to executive vice president and chief operating officer of the company and the bank, effective Oct. 1.
Community Bank System received regulatory approval from the Office of the Comptroller of the Currency and the Federal Reserve Bank of New York to complete its proposed merger with Steuben Trust Corporation.
Scott A. Kingsley, executive vice president and chief operating officer of Community Bank System, will retire and be replaced by Joseph F. Serbun, current executive vice president and chief credit officer, who previously served as senior vice president of commercial banking.
Community Bank System entered into a definitive agreement to acquire Kinderhook Bank and its subsidiary National Union Bank of Kinderhook in an all cash transaction valued at approximately $93.4 million.
Community Bank System promoted Scott Kingsley, Joseph E. Sutaris and Joseph F. Serbun to EVP/COO, EVP/CFO and EVP/CCO, respectively.