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Charles V. Wait, Adirondack Trust Co.’s chairman of the board of directors, announced a senior leadership appointment and an officer promotion within the bank’s management team.
Charles V. Wait Charles V. Wait Jr., has become the organization’s new president and CEO, an appointment that was approved by the board of directors, effective Feb. 12. Wait Jr. succeeds Stephan R. von Schenk, who acted as company president since 2014 and CEO since 2017.
“Steve has gone above and beyond during his tenure as president and CEO,” said Wait. “He has done much to transform the organization—both inside and out—with his steady leadership, and I thank him for his many years of service at the Adirondack Trust Co.”
Another management promotion for the bank includes Brian Charbonneau, who has been promoted to vice president—deposit operations officer, for the bank’s Deposit Operation Department.
As chairman of the board, Wait Sr. will continue to focus on the long-term growth strategy for the bank.
Wait Jr., who has served as executive vice president since 2014, will assume responsibilities for day-to-day management and will lead the overall operations of the Adirondack Trust Co.
Wait Jr. is a graduate of Cornell University and the Stonier Graduate School of Banking. He also graduated magna cum laude from the New York University School of Law.
He practiced law with Jones Day in New York City before joining Adirondack Trust in 2009 as vice president of legal and regulatory affairs. Active in the community, Wait serves as a member of the board of directors of the Saratoga County Chamber of Commerce. He is also a member of the board of directors of the Saratoga Performing Arts Center (SPAC).
Adirondack Trust’s board of directors consists of Chairman Wait Sr.; Amsure President Guy Alonge, III; Stewart’s Foundation President Susan Law Dake; Gavin & LaVigne Inc. principal and certified public accountant Mary C. Gavin; Skidmore College President Dr. Philip A. Glotzbach; Fort Miller Group President John T. Hedbring; Adirondack Trust Vice President (retired) Douglass M. Mabee; TRC Companies Inc. lead environmental inspector Douglass T. Mabee; Roohan Realty owner J. Thomas Roohan Jr.; Olde Bryan Inn Restaurant and Longfellow’s Hotel, Restaurant, and Conference Center President Stephen F. Sullivan; von Schenk and Wait Jr.
Adirondack Trust Co. is an independent, locally owned and operated, community bank offering a wide variety of business and personal financial services. Officials said the bank has more than $1 billion in assets and 13 branch offices.
The bank offers banking, trust, insurance, and investment management services, and originates real estate mortgages, both residential and commercial, and commercial business loans throughout its primary market area. It is a Bauer 5-Star Rated Superior bank.
The bank’s website is AdirondackTrust.com.