|
Joseph J. Lemchak joined Community Bank System, Inc. (CBSI) in April 1990, as Assistant Vice President and Chief Financial Officer of Horizon Bank, a wholly-owned bank subsidiary of CBSI. Since May 1991, he has served in the duel capacity of Chief Investment Officer and Asset/Liability Manager for the Company. When Mr. Lemchak assumed his responsibility, investments outstanding were $193 Million with no net capital market borrowings. As of December 31, 2004, investments have increased to $1.50 Billion, with capital market borrowings of nearly $800 Million.
Prior to CBSI, Mr. Lemchak worked as a commercial lender with Chittenden Trust Company, a Vermont based lending institution, from 1989 to 1990, and Security Norstar Bank in Rochester NY, subsequently acquired by Fleet Bank, from 1984 to 1989.
Mr. Lemchak is a 1983 graduate of the University of Rochester, earning a B.A. in Economics. | 