Legacy Bancorp, Inc. (the “Companyâ€) (NASDAQ:LEGC), the holding company for Legacy Banks (the “Bank†or “Legacyâ€) announced today that Stephen M. Conley, Senior Vice President, Treasurer and Chief Financial Officer intends to retire from those positions effective January 1, 2008.
At the same time the Company also announced that Paul H. Bruce, its current Senior Vice President, Finance, will be promoted to Chief Financial Officer effective upon Mr. Conley’s retirement. Mr. Bruce has been employed at the Bank for 6 years and prior to his current position served as Vice President, Finance. Since joining Legacy, Mr. Bruce has been responsible for financial reporting, and since the Company’s public offering, S.E.C. reporting and Investor Relations. Mr. Bruce will maintain those responsibilities as C.F.O.
J. Williar Dunlaevy, Chairman and Chief Executive Officer, said, “We are extremely grateful to Steve Conley for his strong financial management and many other contributions over the past 32 years. He has represented Legacy extraordinarily well. All of our associates and I will miss our daily interaction with Steve, and we wish him and his family the very best in his retirement.†Mr. Dunlaevy also noted that Mr. Conley was instrumental in managing the Bank’s financial infrastructure during its successful initial public offering in 2005.
Mr. Conley has served in his current capacity for the Company since its inception in 2005 and its predecessor, Mutual Bancorp since its inception in 1997, and at the Bank since 1996 at its predecessor, City Savings Bank. Mr. Conley has been employed by the Bank since 1975 in positions of increasing responsibility, including manager of accounting, controller, vice president and treasurer and senior vice president and treasurer.
Mr. Conley’s extensive business and community leadership includes director of the Dalton Community Recreation Association, past director of the Berkshire United Way and past president of the Pittsfield Girls Club and Pittsfield Rotary Club. Mr. Conley is a graduate of Bentley College, the University of Massachusetts School of Business (M.B.A.) and the Graduate School of Banking at Fairfield University.
Commenting on Mr. Bruce’s appointment as Chief Financial Officer, Mr. Dunlaevy stated, “We are fortunate to have an individual of Paul’s experience and caliber to support our present and future growth and profitability. Paul is a valued member of our executive leadership team and we look forward to his assumption of the additional responsibilities of Chief Financial Officer.â€
Mr. Bruce is a Certified Public Accountant and is a graduate of the University of Notre Dame in South Bend, IN, Western New England College (M.B.A.), Bryant College (Masters of Science – Taxation), and the Graduate School of Banking at Fairfield University. Mr. Bruce also holds the designations of Certified Management Accountant and Certified Internal Auditor. He has been a member of The Earth Angels cast for the past ten years.
Legacy Banks is headquartered in Pittsfield, Massachusetts. It employs 186 people and has sixteen offices throughout Berkshire County, Massachusetts and eastern New York, as well as a Loan Production Office in Colonie, New York. Legacy offers Personal Banking, Mortgage Lending, Commercial Services, Insurance, Investments, Portfolio Management, Credit and Debit Card products, and Online Services.
If you would like to contribute information on this article, contact us at info@iberkshires.com.
Your Comments
iBerkshires.com welcomes critical, respectful dialogue. Name-calling, personal attacks, libel, slander or foul language is not allowed. All comments are reviewed before posting and will be deleted or edited as necessary.
No Comments
Lanesborough Town Meeting to Vote Budget, Bylaws & Vehicle Purchases
By Breanna SteeleiBerkshires Staff
LANESBOROUGH, Mass. — Tuesday's annual town meeting includes a $14 million operating budget, new short-term rentals, accessory dwelling units and sign bylaws, and free cash article appropriations.
Voters will gather at Lanesborough Elementary School on June 9 at 6 p.m. to decide on 20 warrant articles.
The fiscal 2027 budget is up a little over 10 percent. Some of the main increases are the Mount Greylock Regional School District and McCann Technical School: the McCann assessment is up more than 30 percent based on factors including enrollment and the school renovation project, and Mount Greylock's is up 11 percent.
Article 11 is for the town to vote to approve from free cash the sum of $16,298.48 for the McCann Technical School roof and window replacement project so as not to impact the budget. Article 3 is appropriate $7,586,284 for Mount Greylock Regional School assessment.
Another notable increase was in life and health insurance, showing an increase of about 26 percent.
Ambulance Director Jen Weber is planning 24-hour coverage, which means more staff and a hike in her budget. One of the articles asks the town to appropriate $234,100 to operate the Ambulance Enterprise Fund for salaries and expenses.
Many town departments are looking for new vehicles. The Fire Department is looking to replace its outdated 1996 fire engine. There are two articles related to the truck at a total of $813,366. Article 12 would transfer $225,000 from free cash into the Fire Truck Stabilization Fund; Article 13 would transfer $605,000 from the fund and authorize the borrowing of $208,366.08.
The total includes a $100,000 contingency cost to cover any additional costs if a 2026 model-year chassis cannot be secured before new emissions standards go into effect in 2027.
The board at its last meeting moved the $225,000 transfer to come before the borrowing article, changing the stabilization number. If the $225,000 is not voted on, then they will amend the next article's number on the floor, subtracting the $225,000. This shows the borrowing number significantly lower.
Article 17 asks for the transfer of $80,000 from free cash to replace a police cruiser.
Police Chief Rob Derksen's aim is to replace one vehicle every other year, meaning the oldest vehicle gets replaced about every 10 years.
He stressed that if delayed this year, the town may have to double up in a future year to get back on schedule, and that paying later usually costs more. The article will ask for $80,000 from free cash, the vehicles used to be funded by the BHRD.
Lastly, the Highway Department is looking to replace a 2014 International dump truck that will be a total of $330,000 and will take two to three years to receive.
Money will be used from last year's approval of $250,000 from free cash for the replacement of a 2012 highway front-end loader that was underspent $49,261. Town meeting is being asked to approve a transfer of $53,274.85 from free cash and the use of $227,464 from funds from the Sale of Town Real Estate to fund the balance.
Other free cash proposals include $1,200 to purchase software to support tracking and ongoing maintenance schedules of town-owned vehicles; $42,000 for the replacement of the Highway Department's storage shed roof, $200,000 to reduce the tax levy.
Cassidy Flynn scattered five hits in a complete-game effort in the circle as Lenox upset top-seeded Hoosac Valley, 3-2, in the quarter-finals of the Division 5 State Tournament. click for more
Brayden Durant struck out seven and walked one in a complete-game effort on the mound Saturday to pitch the Drury baseball team to a 6-0 win over Keefe Tech in the quarter-finals of the Division 5 State Tournament at Joe Wolfe Field. click for more
Jason Codey struck out 13, walked two and allowed just an infield single as the Generals earned a 7-1 win over Wahconah to claim their third straight regional title. click for more
Gracelyn Wright struck out eight, and Genevieve Lagess went 3-for-5 with four runs batted in as the Hurricanes beat Monson, 17-3, to claim their first Western Mass title in four years. click for more
For the boys, Ward Bianchi helped lead the way with a win in the shot put and a second place in the javelin as the Mounties finished 16 points ahead of runner-up Pittsfield (pending the results of the pole vault, which were unavailable at 11 p.m. Friday night). click for more
