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The Adirondack Trust Company Nominates Charles V. Wait, Jr. & Douglass T. Mabee to Board

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FOR IMMEDIATE RELEASE:                                                           January 8, 2013

For further information please contact:
Charles V. Wait
Chairman, President & CEO
The Adirondack Trust Company          
(518) 584-5844     

THE ADIRONDACK TRUST COMPANY NOMINATES CHARLES V. WAIT, JR.
& DOUGLASS T. MABEE TO BOARD

Saratoga Springs, New York – The Adirondack Trust Company announced today that Mr. Charles V. Wait,  Jr. and Mr. Douglass T. Mabee have been nominated to stand for election to the Board of Directors of The Adirondack Trust Company at the Annual Stockholders’ Meeting to be held on February 6, 2013.  Mr. Wait is a Vice President of Legal and Regulation at The Adirondack Trust Company, which includes the analysis of regulations, credit and vendor information.  Mr. Wait joined the Company in 2009.  Mr. Mabee is a third-party consultant for Tetra Tech, an environmental consulting firm that is ranked number one in Water Services by Engineering News-Record.  He works as an Environmental Inspector, overseeing permitting issues for pipeline construction projects.

Mr. Charles V. Wait Jr. said, “I have had the good fortune to work in many different areas and with many different people as an Officer of The Adirondack Trust Company.  This experience, combined with my prior experience as an attorney and my appreciation of the communities that The Adirondack Trust Company serves has given me significant insights that will help me to effectively perform my duties as a Board member.  Joining the Board of Directors is a great honor.  I look forward to continuing to work with management and the Board in growing The Adirondack Trust Company and in fostering its vision of commitment to the communities that make it so successful.”

Mr. Douglass T. Mabee commented, “It is an honor to have been asked to join the Board of The Adirondack Trust Company. I am proud of the Bank’s long standing tradition in the community and its deep commitment to the region’s success.  I look forward to being part of the continued growth of the Bank and region.”

Charles V. Wait, Chairman, President & CEO of The Adirondack Trust Company noted: “I am extremely pleased to announce the nominations of Mr. Wait and Mr. Mabee to our Board of Directors.  Mr. Wait brings extensive legal experience to our company and has a detailed understanding of our business and the local community in which we operate and represents the fourth generation of our family to work at the Bank.

Mr. Mabee has significant experience in planning and development and will also serve us well as we continue our mission of providing comprehensive financial solutions to our customers.  Mr. Mabee is the son of Director, Douglass M. Mabee and is the fifth generation of the Mabee family to be associated with the Bank. 

I am pleased with these nominations and the leadership and generational continuity they will bring to our Board and local community.  Since our founding in 1901 we have and will continue to remain steadfast to helping local businesses and individuals prosper.”

Mr. Wait is a resident of Gansevoort, NY.  He serves locally as a board member of the Empire State College Foundation and Saratoga Springs Rotary Club.

In addition to his experience at The Adirondack Trust Company, Mr. Wait has served as an Associate at one of the world’s most prestigious law firms, Jones Day in New York City.  He is admitted to practice law in the State of New York and in the United States District Court for the Southern District of New York.  He is currently a member of the New York State Bar Association. 

Mr. Wait has a B.A. in Psychology from Cornell University and obtained his J.D. magna cum laude (Order of the Coif) from New York University School of Law.

Mr. Mabee is the son of Douglass M. Mabee, a retired Adirondack Trust Company Officer and a current Adirondack Trust Director.  Mr. Mabee resides in Buffalo, NY where he has worked as an environmental consultant and is currently working on projects in Northeastern Pennsylvania.  He is a graduate of St. Lawrence University with a B.A. in Environmental Studies.  He works with clients on environmental projects from planning to development.

The Adirondack Trust Company Board of Directors consists of Charles V. Wait, Chairman, President & CEO of The Adirondack Trust Company, Wallace Allerdice, President , Allerdice Building Supply, Susan Law Dake, President, Stewart's Foundation, Dennis D. Dammerman, Retired Vice Chairman of the Board and Executive Officer of General Electric, Philip A. Glotzbach, President, Skidmore College, John T. Hedbring, President, Fort Miller Group, Douglass M. Mabee, Retired Vice President  of The Adirondack Trust Company, Christel A. MacLean, Principal of MacLean Management Group, Stephen F. Sullivan, President,  Longfellow's Hotel, Restaurant & Conference Center and The Olde Bryan Inn Restaurant, and Stephan R. von Schenk, Executive Vice President of The Adirondack Trust Company.

Founded in 1901 in Saratoga Springs, The Adirondack Trust Company is an independent, employee and locally owned and operated community bank offering a wide variety of business and personal financial services. The bank also offers trust, investment and insurance services and originates real estate mortgages, both residential and commercial, and commercial business loans throughout its market area.  The bank has over $1 billion in assets and eleven branches with the twelfth to open this January in Ballston Lake, NY. The Adirondack Trust Company is rated by Bauer Financial as a 5-Star bank for the period ending September 30, 2012. The Bank's website is www.adirondacktrust.com

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The Adirondack Trust Company
473 Broadway Saratoga Springs, NY  12866
(518) 584-5844