Chemung Canal Trust has hired Peter K. Cosgrove as executive vice president and chief credit officer.
“We are very excited to have a banker of Peter’s experience and stature join us as our chief credit officer. He is well respected within our industry, having been an impactful banker throughout the Upstate New York market for more than three decades,” said Anders M. Tomson, president and CEO of Chemung Canal Trust.
Cosgrove began his banking career with Fleet Bank, followed by 10 years at The Troy Savings Bank, which was acquired by First Niagara Financial Group in 2004. At First Niagara he held a number of key leadership positions and at the time of their merger with Key Bank, Cowgrove was First Niagara’s managing director of Commercial Banking, covering eight markets across four states. He served on the Key/FNFG Merger Integration Leadership team and was named Key Bank’s regional sales executive for its East Region in August 2016.
As chief credit officer, Cosgrove will lead the credit administration and collections functions at the bank, responsible for managing asset quality and assisting the efforts of the Business Services Division and other lending groups.
As of June 30,2019 the bank’s loan portfolio totaled $1.3 billion, comprised of commercial, residential mortgage and consumer loan relationships.