Traditions Bancorp, Inc. announced that Michael E. Kochenourintends to retire as Chairman of the Board of Directors effective at the April 2023 board meeting. Mr. Kochenour is a founder of the bank and served as its original President and CEO. He retired as a bank associate in 2016.

Kochenour plans to continue to serve as a director when he stands for re-election next year. In alignment with its executive leadership succession plans, Traditions' current President and CEO, Eugene J. Draganosky, has been selected to succeed Kochenour as Chairman. Mr. Draganosky joined the bank and its executive team in 2008 and became a Director in April 2015 when he was named President.

He was subsequently appointed as CEO in January 2017. During the past six years, Traditions has nearly doubled its asset size, steadily increased shareholder value, expanded into new markets, successfully rebranded, and established a holding company. Concurrent with the Board Chair transition, Elizabeth F. Carsonwill become Traditions' Lead Independent Director, serving as the principal liaison between the Chair and the other independent Directors.

Mrs. Carson has been a Director since January 2015, has served as Vice Chair since April 2019, and is the Chair of the Governance and Nominating Committee. As a 33-year industry veteran with M&T Bank, Carson is respected and trusted by her board colleagues because of her sound judgment and effective communication skills. Effective at its September 12, 2022, board meeting, Thomas J. Sposito II will become President of Traditions Bank and Traditions Bancorp; he will also be named a director.

Mr. Sposito joined Traditions' executive management team in June 2020 as Strategic Revenue Officer and became Chief Banking Officer in November 2021. During his highly successful 37-year career, Sposito has been an executive officer and leader of numerous banks including prior positions as President and CEO. He has immersed himself in the Traditions Bank culture and looks forward to contributing to its ongoing success as the next President.