Charles V. Wait, chairman and chief executive officer of the Adirondack Trust Co., announced two senior leadership appointments and two promotions within the bank’s management team.
Stephan R. von Schenk is now president of Adirondack Trust Co. and Charles V. Wait Jr., succeeds von Schenk as executive vice president. The appointments were approved by the board of directors and took effect last month.
“With these appointments, we are broadening our leadership team to drive the continued growth of the Adirondack Trust Co. and to meet the emerging needs of our customers and our community in the years ahead,” said Wait.
He said the bank “is fortunate to serve the most dynamic, attractive and growing region of Upstate New York and doubly fortunate to have the advantages of deep banking and community experience and generational continuity as we pursue innovative new opportunities to help our customers and our community grow.”
The management promotions for the bank include Bryan Booth, who was promoted to vice president in the Accounting Department, and s Riggi to assistant vice president, consumer loan manager.
As chairman and chief executive officer, Wait continues to lead the overall operations of Adirondack Trust Co. with a special focus on long-term growth strategy for the bank. Von Schenk, who has served as executive vice president since 2004, has the responsibilities of day-to-day management. Wait Jr. assumes the responsibilities of executive vice president.
“Steve von Schenk is an exceptional leader who has been instrumental in the growth of the bank’s mortgage, consumer and business lending programs. The bank and our community have both benefited from his vision and energy,” said Wait.
“I am particularly proud of my son Charles, who brings extensive legal experience to the bank and who, since 2009, has overseen our legal and regulatory affairs. Charles is the fourth generation of our family to work at the bank and his professional and community experience has prepared him to take on additional responsibilities.”
Wait began his banking career with the Adirondack Trust Co. in 1974. In 1982, he was elected to the board of directors, in 1984, president, and in 1989, chairman and chief executive officer. He served as a director of the Federal Reserve Bank of New York for nine years and is currently a director of the New York Bankers Association, the New York Racing Association, and an emeritus director of Skidmore College.
In 2013, he chaired the Saratoga 150 Committee, organizers of the sesquicentennial celebration of Saratoga Race Course. He has served as a director and past chairman of the Greater Saratoga Chamber of Commerce, and as director and past chairman of the Saratoga Springs City Center convention facility.
A graduate of Cornell University, Wait has been honored for distinguished service to the community by President Ronald Reagan, the Business Council of New York State, the New York State Jaycees, the Saratoga County Bar Association, the Albany Business Review, the Saratoga Economic Development Corp., the Saratoga County Economic Opportunity Council, Skidmore College and Northwood University.
He received an honorary degree from Empire State College and recently received the Lifetime Achievement Award from the Saratoga Springs Rotary Education Foundation.
Von Schenk, who joined the Adirondack Trust Co. 10 years ago, brings to his new role 30 years of community banking and commercial lending experience in upstate New York. He is active in the Saratoga and Warren County communities, serving as a director of Saratoga Hospital and as chairman of the Saratoga Hospital Foundation; as chairman of the Saratoga County Chamber of Commerce, and as a director of the Economic Development Corp. of Warren County. He is also a past member of the board of the Statewide Zone Capital Corp. Von Schenk, a graduate of Utica College, holds an MBA from the SUNY Albany. He and his family live in Diamond Point on Lake George.
Wait Jr., a graduate of Cornell University and the Stonier Graduate School of Banking, earned a law degree magna cum laude (Order of the Coif) from the New York University School of Law. He practiced law with Jones Day in New York City before joining the Adirondack Trust Co., in 2009 as vice president of legal and regulatory affairs. He is admitted to the practice of law in the state of New York and is a member of the New York State Bar Association. Locally, he serves as a member of the board of directors of the Empire State College Foundation and is the president-elect of the Saratoga Springs Rotary Club. He and his wife live in Wilton.
Booth joined the Adirondack Trust Co. in 2011 as Assistant Vice President, Controller. He is responsible for overseeing the day-to-day operations of the Accounting Department. He works closely with the CFO in financial reporting and analysis.
Riggi joined the Adirondack Trust Co. in 1988 in the Installment Loan Department. She is responsible for managing the Consumer Lending Department which also includes developing and maintaining lending relationships with area auto dealers.
“Bryan and Jenifer have demonstrated tremendous skills in helping our organization grow,” said Wait. “In their respective areas of expertise they will help our company meet the challenges of today as well as plan for the future. ”
The Adirondack Trust Co. is an independent, employee and locally owned and operated community bank with $1 billion in assets and 12 branches offering business and personal financial services, including residential and commercial mortgages, commercial loans and trust, investment and insurance services. The Adirondack Trust Company is rated by Bauer Financial as a 5-Star bank.