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Adirondack Trust Company Announces Leadership Team and Management Promotions

Saratoga Springs, New York—The Adirondack Trust Company’s Chairman of the Board of Directors Charles V. Wait announced today a senior leadership appointment and an officer promotion within the bank’s management team.

Charles V. Wait, Jr., has become the organization’s new President and CEO, an appointment that was approved by the Board of Directors, effective February 12, 2020. Mr. Wait, Jr. succeeds Stephan R. von Schenk, who acted as the Adirondack Trust Company President since 2014 and CEO since 2017.

“Steve has gone above and beyond during his tenure as president and CEO,” said Mr. Wait. “He has done much to transform the organization—both inside and out—with his steady leadership, and I thank him for his many years of service at the Adirondack Trust Company.”

Another management promotion for the bank includes Brian Charbonneau, who has been promoted to Vice President—Deposit Operations Officer, for the bank’s Deposit Operation Department.

As Chairman of the Board, Mr. Wait will continue to focus on the long-term growth strategy for the bank. Mr. Wait, Jr., who has served as Executive Vice President since 2014, will assume responsibilities for day-to-day management and will lead the overall operations of the Adirondack Trust Company.

Mr. Wait, Jr. is a graduate of Cornell University and the Stonier Graduate School of Banking. He also graduated magna cum laude from the New York University School of Law. He practiced law with Jones Day in New York City before joining Adirondack Trust in 2009 as Vice President of Legal and Regulatory Affairs. Active in his local community, Mr. Wait, Jr. serves as a member of the Board of Directors of the Saratoga County Chamber of Commerce. He is also a member of the board of directors of the Saratoga Performing Arts Center (SPAC).

The Adirondack Trust Company is an independent, locally owned and operated, community bank offering a wide variety of business and personal financial services. The bank has more than $1 billion in assets and 13 branch offices. The bank offers banking, trust, insurance, and investment management services, and originates real estate mortgages, both residential and commercial, and commercial business loans throughout its primary market area. The bank is a Bauer 5-Star Rated Superior bank. The bank’s website is AdirondackTrust.com.

The Adirondack Trust Company Board of Directors consists of Chairman Charles V. Wait; Amsure President Guy Alonge, III; Stewart’s Foundation President Susan Law Dake; Gavin & LaVigne, Inc., Principal and Certified Public Accountant Mary C. Gavin; Skidmore College President Dr. Philip A. Glotzbach; Fort Miller Group President John T. Hedbring; Adirondack Trust Company Vice President (retired) Douglass M. Mabee; TRC Companies, Inc., Lead Environmental Inspector Douglass T. Mabee; Roohan Realty Owner J. Thomas Roohan, Jr.; Olde Bryan Inn Restaurant and Longfellow’s Hotel, Restaurant, and Conference Center President Stephen F. Sullivan; Adirondack Trust Company President & CEO (retired) Stephan R. von Schenk; and Adirondack Trust Company President & CEO Charles V. Wait, Jr.

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

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