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SOLVAY BANK CORP. DECLARES FOURTH QUARTER CASH DIVIDEND
Friday, December 28, 2007
The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared a fourth quarter dividend of 23 cents per share on December 18, 2007. The dividend is payable on January 23, 2008 to shareholders of record on January 2, 2008. The dividends declared in 2007 of 86 cents per share reflect a 4.9% increase over the dividends declared in 2006.Solvay Bank celebrates its 90th anniversary this year, making it the oldest independent commercial bank headquartered and operating in Onondaga County, and is committed to providing its customers with the very best in financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse and Westvale. Solvay Bank also owns a full service general insurance agency. Solvay Bank Insurance Agency, Inc. The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK'S WESTVALE OFFICE TO RELOCATE
Monday, December 10, 2007
Solvay Bank recently received approval by the New York State Banking Department to relocate its Westvale Office to Geddes Plaza, 527 Charles Avenue, Solvay, NY, which is right across the street from its current location in Westvale Plaza. The new office, scheduled to open in early 2008, will offer full banking services, in a traditional branch setting, to both individuals and businesses. Plans also include an ATM and night depository at the new location.Solvay Bank is the oldest independent commercial bank headquartered and operating in Onondaga County and celebrates ninety-one years of providing its customers with the very best financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. (SBIA). The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. DECLARES RECORD THIRD QUARTER PROFITS AND GROWTH
Friday, October 26, 2007
Solvay Bank Corp., the holding company for Solvay Bank, completed a successful third quarter. Net income through the third quarter of 2007 was a record $3.8 million, increasing 2.9% over the same period in the prior year, Earnings for the third quarter were $1.3 million, up 2.6% over the third quarter earnings of 2006. Total assets were a record $497.5 million at September 30, 2007, for an increase of $25.6 million or 5.4% over last year. Total deposits increased $23.3 million or 5.5% to $448.6 million at the end of September, and total loans increased to an all-time high of $349.6 million, up $17.6 million or 5.3% from the prior year.Paul P. Mello, CPA, President and Chief Executive Officer reported, "We are very pleased with our financial performance given the current difficult economic and interest rate environment and the competitive landscape in our market area." Solvay Bank is the oldest independent commercial bank headquartered and operating in Onondaga County and is celebrating ninety years of providing its customers with the very best financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. (SBIA) The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. DECLARES A RECORD THIRD QUARTER CASH DIVIDEND
Friday, September 21, 2007
The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared on September 18, 2007 a third quarter dividend of 21 cents per share. The dividend is payable on October 23, 2007 to shareholders of record on October 1, 2007 and represents a 5.0% increase over 2006's third quarter dividend of 20 cents per share.Paul P. Mello, CPA, President and Chief Executive Officer reports, "We are pleased with our continued profitable growth, which we are able to pass on to our shareholders." Solvay Bank celebrates its 90 anniversary this year, making it the oldest independent commercial bank headquartered and operating in Onondaga County. Solvay Bank is committed to providing its customers with the very best financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. ANNOUNCES RECORD PROFITS AND GROWTH
Tuesday, July 31, 2007
Solvay Bank Corp., the holding company for Solvay Bank, achieved record earnings for the second quarter of 2007. Net income, through the first half of the year was a record $2.5 million, increasing 3.1% over the same period in the prior year. Earnings for the second quarter were $1.3 million, up 3.8% over the second quarter earnings of 2006. Total assets attained an all-time high of $487.7 million at June 30, 2007 compared to $470.0 million last June, for an increase of $17.7 million or 3.8%. Total loans increased to $340.3 million, up $7.9 million or 2.4% from the prior year, and total deposits increased $16.4 million or 3.9% to $440.3 million at the end of June 2007 as compared to the prior year.During the second quarter, Solvay Bank teamed up with Allpoint, the largest surcharge-free ATM network in the country. Paul P. Mello, CPA, President and Chief Executive Officer stated, "With over 80 ATMs in Onondaga County and more than 32,000 nationwide, Solvay Bank customers now have access to the largest surcharge-free ATM network in our market." Solvay Bank is the oldest independent commercial bank headquartered and operating in Onondaga County and is celebrating ninety years of providing its customers with the very best financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. (SBIA). The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. DECLARES A RECORD 5% INCREASE IN CASH DIVIDENDS
Monday, June 25, 2007
The Board of Directors of Solvay Bank Corp., the holding company for Solvay Bank, declared on June 19, 2007, a second quarter dividend of $.21 per share. The dividend is payable on July 23, 2007 to shareholders of record on July 2, 2007. The dividend represents a 5.0% increase over 2006's second quarter dividend of $.20 per share.Solvay Bank celebrates its 90th anniversary this year, making it the oldest independent commercial bank headquartered and operating in Onondaga County. Solvay Bank is committed to providing its customers with the very best financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. ANNOUNCES RECORD PROFITS AND GROWTH
Monday, April 30, 2007
Solvay Bank Corp., the holding company for Solvay Bank, achieved record earnings for the first quarter of 2007. Net income through the first quarter of 2007 was a record $1.3 million, increasing 2.4% over the prior year. The total assets increased 4.5% and total deposits increased 4.7% at the end of March 2007 as compared to the prior year. Total loans also increased to a record $337.1 million, up $10.1 million or 3.1% from the prior year. "We are very pleased with our financial results despite an unfavorable interest rate environment and a heavily competitive marketplace." stated Paul P. Mello, CPA, President and Chief Executive Officer.Solvay Bank is the oldest independent commercial bank headquartered and operating in Onondaga County and is celebrating ninety years of providing its customers with the very best in financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. (SBIA). the Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. DECLARES RECORD FIRST QUARTER DIVIDEND
Friday, March 23, 2007
The Board of Directors of Solvay Bank Corp. declared, on March 20, 2007, a first quarter dividend of $.21 per share. The dividend is payable on April 24, 2007 to shareholders of record on March 28, 2007. The dividend represents a 5.0% increase over 2006's first quarter dividend of $.20 per share.Solvay Bank is the oldest independent commercial bank headquartered and operating on Onondaga County and is committed to providing its customers with the very best financial products and customer service. Solvay Bank has a main office located at 1537 Milton Avenue in Solvay and six branches conveniently located in Fairmount, Camillus, Liverpool, North Syracuse, downtown Syracuse, and Westvale. Solvay Bank also owns a full service general insurance agency, Solvay Bank Insurance Agency, Inc. (SBIA). The Bank's Web site can be reached at www.solvaybank.com.
SOLVAY BANK CORP. APPOINTS LEONARD W. PFEIFFER TO BOARD OF DIRECTORS
Monday, January 29, 2007
Solvay Bank Corp. recently appointed Leonard W. Pfeiffer to the Board of Directors effective at the January 16, 2007 meeting."Lenny has a deep connection with our Bank and the Solvay community," said Paul P. Mello, President and Chief Executive Officer. Pfeiffer's grandfather, Edwin D. Winkworth, was one of the founders of Solvay Bank in 1917, along with John D. Pennock, and also served as the Bank's second President. Mr. Winkworth's son and Pfeiffer's uncle, Edwin B. Winkworth, succeeded him as President until 1964. The family's long association with Solvay Bank continued with the appointment of Pfeiffer's mother, Eleanor Winkworth Pfeiffer, to the Board in 1961 until hear death in 1997. "Lenny brings to the Board of Directors not only a deep understanding of the community, but several years of business experience," said Mr. Mello. Mr. Pfeiffer is an extremely active community volunteer and serves in a variety of capacities in both civic and political organizations. Mr. Mello said that his guidance and experience would be a welcome addition to the Board.
SOLVAY BANK ANNOUNCES RICHARD A. BEAGLE'S RETIREMENT
Tuesday, January 23, 2007
Solvay Bank announces that Richard A. Beagle retired January 12, 2007 after over forty years of distinguished service at Solvay Bank. Mr. Beagle has held a variety of leadership positions, most recently as Senior Vice President, Risk Management. His many contributions to the company are greatly appreciated, and all of us at Solvay Bank wish him and his family a full and happy retirement.
DOUGLAS MONEY AWARDED PROFESSIONAL DEGREE, CERTIFIED IN LONG-TERM CARE
Tuesday, January 16, 2007
Douglas Money, Executive Vice President of Solvay Bank Insurance Agency, Inc. (SBIA), has been awarded a professional degree in the field of long-term care, Certified in Long-Term Care (CLTC). The program is independent of the insurance industry and focuses on providing insurance professionals the tools they need to meet their client's long-term care needs."Our agency is very sensitive to the needs of our community," says Money. "One of my responsibilities as an insurance professional is to help solve my client's long-term care needs." Since few families can afford such high costs, long-term care insurance may be the solution. Solvay Bank Insurance Agency, Inc. has made the commitment to provide the information clients need to make the right decision. Doug brings to Solvay Bank sixteen years of insurance experience where he specialized in selling life, investments, property, and casualty insurance until about 1997. The following year, he became a Market Development Manager at MetLife Auto and Home until 2002. Money subsequently created and manages Solvay Bank Insurance Agency, Inc., which opened for business in October 2003. Solvay Bank Insurance Agency, Inc. is a wholly owned subsidiary of Solvay Bank, the oldest independent commerical bank headquartered and operating in Onondaga County and is committed to providing the very best personal and business insurance products and customer service. The insurance agency is located at Solvay Bank's main office, 1537 Milton Avenue in Solvay, and by appointment through its six conveniently located branches in Camillus, Fairmount, Liverpool, North Syracuse, downtown Syracuse and Westvale. SBIA's website can be accessed at www.solvaybankinsurance.com
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