Community Bank System, Inc. and Community Bank, N.A. Announce Executive Changes
August 25, 2022 at 02:50 pm EDT
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Community Bank System, Inc. (the Company) announced two senior management changes. Joseph F. Serbun, President, Retail Banking, of the Company and its wholly-owned subsidiary, Community Bank, N.A. (the Bank), has decided to retire after more than 14 years of service. Serbun will retire from his position effective as of September 30, 2022.
In addition, the Company announced that it has promoted Dimitar Karaivanov to Executive Vice President and Chief Operating Officer of the Company and the Bank effective October 1, 2022. Karaivanov has served as Executive Vice President of Financial Services and Corporate Development since joining the Company in June 2021. In his role as Chief Operating Officer, Karaivanov will have oversight responsibilities for all banking, wealth management, employee benefit services, and insurance operations and related business activities.
Community Financial System, Inc., formerly Community Bank System, Inc., is a diversified financial services company. The Company is focused on four main business lines, such as banking, employee benefit services, insurance services and wealth management. The Companyâs banking subsidiary, Community Bank, N.A., operates approximately 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts. The Companyâs Benefit Plans Administrative Services, Inc. subsidiary is a provider of employee benefits administration, trust services, collective investment fund administration, and actuarial consulting services to customers on a national scale. The Companyâs OneGroup NY, Inc. subsidiary is a United States insurance agency. The Company also offers comprehensive financial planning, trust administration and wealth management services through its Wealth Management operating unit.