 |
| 10/4/04 |
|
Ronald Gentile Named New President/CEO of
Community Bank of Orange, NA |
|
|
MIDDLETOWN, NY – The Board of Directors of Community Bank of Orange, NA today announced the appointment of Ronald Gentile of Monroe, NY as the Bank’s new President and Chief Executive Officer. He replaces George Lindemann, who was Acting President.
"We feel that Ron brings to our bank, the experience to grow and cultivate the bank," said Anthony Ingrassia, Chairman of the CBO Board. "His experience in all areas of banking is invaluable, including his prior experience as a regulator, which is very important in these times."
Gentile served most recently as President and Chief Operating Officer of Warwick Savings Bank, which has just merged with Rockland County-based Provident Bank.
"That is a blessing in disguise for Community Bank of Orange," he said. "Community Bank of Orange is one of just a few independently owned hometown banks left in Orange County. That is definitely a positive for us at CBO in that all decisions are made on a local level and the decisions are made with extensive thought, yet are done quickly."
Too often, local residents and business people feel disenfranchised and feel like something has been lost, when their local business is taken over, Mr. Gentile said.
Working for CBO is "a good challenge; the bank has a lot of potential." The bank has an excellent staff, good location and excellent economy complimented by an interested and motivated Board of Directors, he said.
Mr. Gentile plans on bringing the bank to its next level as it enters its third year serving the Hudson Valley. Among new products and services he would like to offer are residential mortgages, credit cards, and sales of mutual funds/annuities. He would like to grow the Bank’s loan portfolio and expand beyond the one Town of Wallkill branch it now operates. The Town of Newburgh, Warwick and Monroe have great potential, Mr. Gentile said.
In the two years since Community Bank of orange opened its doors, "we’ve seen growth in our core deposits and in the loan area," said Mr. Ingrassia. "We need more growth to the portfolio, however."
As of June 2004, deposits totaled $19 million, total assets equaled $22.3 million and total capital and net worth was $3.1 million, well above the minimum regulatory capital requirements..
Mr. Gentile was with Warwick Savings Bank for over 14 years. He served as President and COO for the last seven years and was Executive Vice president for the previous seven years. He was also a member of the Board of Directors since late 1990.
From 1971 to 1990, Mr. Gentile was a Senior Bank Examiner with the Federal Deposit Insurance Corporation in Manhattan and served as a Credit Analyst with Sterling National Bank in 1971.
Mr. Gentile graduated from Niagara University with a BS in Economics and graduated from The Stonier Graduate School of Banking at Rutgers University. He went on to become a member of the Faculty at the Stonier Graduate School of Banking and Delaware University. He also was in the Executive Development Program of America’s Community Bankers in cooperation with Fairfield University.
Mr. Gentile is President and Member of the Board of Directors and Trustees of Winslow Therapeutic Riding Unlimited in Warwick; a member of the Board of Directors of St. Anthony’s Community Hospital in Warwick, a member of Bon Secours system; a member and former President of Warwick Valley Rotary Club in Warwick; and a Member of the Committee on CRA and Affordable Housing." |
|
