Generations Bancorp NY, Inc. Announces Planned Retirement of Kenneth Winn, SVP of Credit Administration

Rhea-AI Summary

Generations Bancorp NY, Inc. (Nasdaq: GBNY) announced the retirement of Senior Vice President of Credit Administration, Kenneth Winn, effective January 1, 2022. Winn joined the Bank in 2017 and led significant initiatives, resulting in a $70.7 million increase in total loans from December 31, 2017 to June 30, 2021. His contributions included enhancing lending standards and participating in the COVID-19 response, particularly the Paycheck Protection Program. The Bank has not yet named a successor.

Positive

• Increased total loans by $70.7 million from December 31, 2017, to June 30, 2021.
• Enhanced lending standards and processes under Winn's leadership.
• Contributed to COVID-19 response and rollout of community hardship loans.

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• None.

SENECA FALLS, N.Y., Aug. 20, 2021 /PRNewswire/ -- Generations Bancorp NY, Inc. (Nasdaq: GBNY), the holding company for Generations Bank, announced today that Senior Vice President of Credit Administration, Kenneth Winn, will be retiring effective January 1, 2022.

Mr. Winn joined Generations in 2017, during his tenure with the Bank, he had responsibility for all of the Bank's lending programs, credit administration and loan servicing functions. Winn led many key initiatives for increased performance, resulting in a $70.7 million increase in total loans from December 31, 2017 through June 30, 2021.  In addition he revised and modernized Generations' lending standards, processes and policies, and oversaw enhanced loan reporting and analysis. 

"Ken Winn has made a tremendous contribution to Generations during his time here," remarked Menzo Case, President and CEO of Generations. "His knowledge and professionalism have helped the Bank grow and prosper over these past four and a half years.  All of us here wish Ken and his family nothing but the best in retirement."

Most recently Mr. Winn was instrumental in the Bank's COVID-19 response including the roll-out of community hardship loans and Generations' participation in the Paycheck Protection Program (PPP) emergency response for small businesses.

Winn brought more than 30 years of experience to his role at Generations, including a tenure in a similar position at other institutions in Upstate New York.

"I want to thank Generations for the opportunities I have had here," said Mr. Winn. "I have been fortunate to work with a great team and I wish them much success moving forward.  I am grateful to have had a long and fruitful career and the time is right for me to move on and enjoy more time with my wife and family."

No replacement for Mr. Winn has been named at this time

Disclosures Concerning Forward-Looking Statements

This press release contains certain forward-looking statements. Forward-looking statements include statements regarding anticipated future events and can be identified by the fact that they do not relate strictly to historical or current facts. They often include words such as "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," should," "could," or "may". Forward-looking statements, by their nature, are subject to risks and uncertainties. Certain factors that would cause actual results to differ materially from expected results include delays in closing the conversion and stock offering; possible unforeseen delays in delivering DRS Book-Entry statements or interest checks; and/or delays in the start of trading due to market disruptions or otherwise.

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About Generations

Generations partners with businesses, municipalities and residents across the Finger Lakes Region and Western New York to offer banking and insurance services. Founded in 1870 and headquartered in Seneca Falls, Generations serves the community from 10 retail locations in Seneca Falls, Auburn, Union Springs, Waterloo, Geneva, Phelps, Farmington, Albion and Medina.

In addition to traditional business and consumer deposit services, Generations focuses on residential mortgages, automobile loans, home equity and commercial loans. The organization also serves the broader needs of the Finger Lakes area and Western New York through its insurance business, Generations Agency. For more information, visit MyGenBank.com

Contact:
Michael Reed
VP – Marketing Director
315-568-1163
michael.reed@mygenbank.com 

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SOURCE Generations Bancorp NY, Inc.

FAQ

Who is Kenneth Winn and what was his role at Generations Bancorp NY?

Kenneth Winn was the Senior Vice President of Credit Administration at Generations Bancorp NY, responsible for leading the bank's lending programs and credit administration.

When is Kenneth Winn's retirement effective?

Kenneth Winn's retirement is effective on January 1, 2022.

How much did total loans increase during Kenneth Winn's tenure?

Total loans increased by $70.7 million from December 31, 2017, to June 30, 2021.

Has a replacement been named for Kenneth Winn at Generations Bancorp NY?

No replacement for Kenneth Winn has been named as of now.

What initiatives did Kenneth Winn lead during his time at Generations Bancorp NY?

Winn led initiatives that included enhancing lending standards, modernizing processes, and participating in the COVID-19 response with the Paycheck Protection Program.