Orange Bank & Trust Company Announces Retirement of Executive Vice President, Michael Coulter, as Chief Lending Officer

Rhea-AI Summary

Orange Bank & Trust Company announced the retirement of Michael Coulter as Chief Lending Officer (CLO) effective July 1, 2024. Coulter, who has been instrumental in the bank's loan growth, will continue part-time as a Strategic Lending Relationship Officer focusing on client relationships and business development in the Mid-Hudson Valley. Coulter joined the bank in 2017 and played a significant role in its nearly $1 billion loan portfolio growth. Greg Sousa, currently EVP Deputy CLO, will assume the CLO role. Sousa, who joined the bank in 2015, has progressively taken on more responsibilities, playing a key role in the bank's development in Orange, Rockland, and Westchester markets.

Positive

• Michael Coulter's leadership contributed to nearly $1 billion growth in loans.
• Greg Sousa, the new CLO, has extensive experience and a proven track record in business development.

Negative

• Potential disruption due to leadership change as Michael Coulter retires from the CLO role.

He will remain with the bank, in a part time position, as Strategic Lending Relationship Officer

EVP Deputy Chief Lending Officer, Greg Sousa to assume CLO role

MIDDLETOWN, NY / ACCESSWIRE / July 1, 2024 / Orange Bank & Trust Company announced today that Michael Coulter will retire from the role of Chief Lending Officer (CLO), effective July 1, 2024. He will continue as an Executive of the Bank, in a part-time position, as Strategic Lending Relationship Officer, managing top client relationships as well as business development in the Mid-Hudson Valley market.

"Michael has played the lead role in the bank's nearly $1 Billion growth in loans as the bank has expanded throughout the mid and lower Hudson Valley," said Michael Gilfeather, President and CEO. "We are tremendously grateful for his sound judgement over the last seven years, and we are happy to have him continue with us on a part-time basis."

Coulter joined Orange Bank & Trust in 2017 as Senior Vice President and CLO, overseeing all aspects of loan strategy, product and policy. In 2019, he was promoted to Executive Vice President.

Fortunately, the impact of this transition will be softened by the Bank's leadership succession plan, with Greg Sousa, EVP Deputy CLO, assuming the role. Sousa joined Orange Bank & Trust in 2015 as Vice President developing deposit and lending businesses as the Bank built out its Rockland and Westchester markets. In 2017, he was promoted to 1st Vice President and given the added responsibility of leading business development efforts for all Orange and Rockland branches. In recognition of his impact on both fronts, he was promoted to Senior Vice President in 2018 and EVP in 2020.

About Orange Bank & Trust Company

Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 130 years ago. It has grown through ongoing innovation and an unwavering commitment to its community and business clientele to more than $2.0 billion in total assets.

Contact Information:

Candice Varetoni
AVP Marketing Officer
Orange Bank & Trust Company
cvaretoni@orangebanktrust.com

SOURCE: Orange County Bancorp, Inc.

View the original press release on accesswire.com

FAQ

When is Michael Coulter retiring as Chief Lending Officer at Orange Bank & Trust?

Michael Coulter will retire as Chief Lending Officer on July 1, 2024.

Will Michael Coulter continue to work with Orange Bank & Trust after retiring as CLO?

Yes, Michael Coulter will remain with the bank in a part-time role as Strategic Lending Relationship Officer.

Who is taking over the Chief Lending Officer role at Orange Bank & Trust?

Greg Sousa, currently EVP Deputy CLO, will take over as Chief Lending Officer.

What contributions did Michael Coulter make to Orange Bank & Trust?

Michael Coulter was pivotal in the bank's nearly $1 billion loan growth during his tenure.

What is Greg Sousa's background at Orange Bank & Trust?

Greg Sousa joined the bank in 2015 and has held various leadership roles, contributing significantly to business development in Orange, Rockland, and Westchester markets.