Orange Bank & Trust Hires Frank Skuthan as SVP, Director of Trust Services

Rhea-AI Summary

Orange Bank & Trust Company has appointed Frank Skuthan as Senior Vice President and Director of Trust Services. He will oversee the management and strategic expansion of the Trust Division, contributing to the Orange Wealth Management strategy. Skuthan brings over 40 years of banking experience, previously managing $2.6 billion in trust accounts. His roles included COO at Hudson Valley Bank and a marketing director at Ernst & Young. The Bank has over $1.7 billion in total assets and is set to open new offices in the Bronx and Nanuet in Spring 2021.

Positive

• Appointment of Frank Skuthan expected to strengthen leadership in the Trust Division.
• Skuthan's extensive experience in fiduciary services and management may enhance the Bank's strategic expansion in Trust Services.

Negative

• Potential concerns about continuity and experience gaps as Skuthan transitions into a key leadership role.

MIDDLETOWN, NY / ACCESSWIRE / April 1, 2021 / The Board of Directors and Michael Gilfeather, President and CEO of Orange Bank & Trust Company, have appointed Frank Skuthan as Senior Vice President and Director of Trust Services.

In this role, Mr. Skuthan is responsible for the management and strategic expansion of the Bank's Trust Division which has offices in Chester and Mt. Vernon, NY. He will also play an integral role in the execution of the Company's Orange Wealth Management strategy.

"We are very pleased to have Frank take this senior level position", said Michael Gilfeather. "He is a strategic leader with a broad range of business management experience, many of those years in the fiduciary services industry. Earlier in his career, Frank was a Department Head and managed a staff of 15 professionals who marketed, managed and administered $2.6 billion of personal trust and institutional retirement accounts at National Westminster Bank USA. He was also the executive in charge of Hudson Valley Bank's Trust Department for a two year period."

Mr. Skuthan has more than 40 years of banking and business management experience including Chief Operating Officer and head of Commercial Banking at Hudson Valley Bank. Frank started his banking career as a commercial lender at National Westminster Bank, USA in New York City. He also held management positions where he was responsible for marketing, as well as cash management and trade finance product development and sales. Mr. Skuthan was also a Marketing Director for Ernst & Young, LLP where he developed and implemented marketing programs for the firm's US and global tax consulting practices.

Mr. Skuthan graduated with a BS degree from Georgetown University and earned an MBA in Finance and International Business from New York University's Graduate School of Business.

About Orange Bank & Trust Company

Orange Bank & Trust Company is an independent bank that began with the vision of 14 founders over 125 years ago. It has grown through conservative banking practices, ongoing innovation and an unwavering commitment to its community and business clientele to more than $1.7 billion in total assets. In recent years, Orange Bank & Trust has added branches in Rockland and Westchester Counties. In the spring of 2021, the Bank will be opening new offices in the Bronx and Nanuet, Rockland County.

Contact:
cvaretoni@orangebanktrust.com
845-341-5043

SOURCE: Orange County Bancorp, Inc.

View source version on accesswire.com:
https://www.accesswire.com/638623/Orange-Bank-Trust-Hires-Frank-Skuthan-as-SVP-Director-of-Trust-Services

FAQ

Who is Frank Skuthan appointed by OCBI?

Frank Skuthan has been appointed as Senior Vice President and Director of Trust Services at Orange Bank & Trust Company.

What will Frank Skuthan's role be at Orange Bank & Trust?

He will manage the Trust Division and contribute to the Orange Wealth Management strategy.

What experience does Frank Skuthan bring to OCBI?

Skuthan has over 40 years of banking experience, including significant roles in fiduciary services and commercial banking.

What is the financial status of Orange Bank & Trust Company?

The Bank has over $1.7 billion in total assets and is expanding with new offices in the Bronx and Nanuet.