Suffolk Bancorp (NASDAQ - SUBK) today announced the appointment of Michael R. Orsino as Chief Lending Officer of Suffolk’s banking subsidiary, Suffolk County National Bank (“SCNB”), effective immediately. He succeeds Karen A. Hamilton, who has been promoted to the newly-created position of Chief Credit Officer. Ms. Hamilton continues to serve as an Executive Vice President of both Suffolk and SCNB, as will Mr. Orsino. Howard C. Bluver, President and Chief Executive Officer remarked, “We are very excited to have Mike join our team. He has long and extensive experience in building small business and middle market commercial lending teams and portfolios. Among other things, Mike spent more than 20 years with Key Bank, and served at various times as the President of their Long Island District, for their Capital Region District, and their Hudson Valley /Metro New York district. His broader success notwithstanding, his roots are on Long Island, and his understanding of our market is second to none. We are extraordinarily fortunate to be able to welcome him to SCNB, and we believe he will play an essential role in building Suffolk’s portfolio in the years to come.” Mr. Bluver went on to say, “Since Karen Hamilton first joined the Bank last May, she has done an excellent job addressing many of the credit-related challenges faced by the Bank over the last two years. Among other things, she has assembled great teams in credit administration, underwriting, and loan workout. Now, in her new position, and with her senior team in place, she can focus on reducing non-performing loans, aggressively pursuing workouts, and building a credit culture that will ensure the quality of our loan portfolio far into the future. Further, given her extensive past experience in the mortgage business, she will also oversee mortgage origination and residential finance.” Suffolk Bancorp is a one-bank holding company engaged in the commercial banking business through the Suffolk County National Bank, a full service commercial bank headquartered in Riverhead, New York. “SCNB” is Suffolk Bancorp’s wholly owned subsidiary. Organized in 1890, Suffolk County National Bank has 30 offices in Suffolk County, New York.
Looking at the universe of stocks we cover at Dividend Channel, on 2/9/15, Suffolk Bancorp will trade ex-dividend, for its quarterly dividend of $0.06, payable on 2/25/15. As a percentage of SUBK's recent stock price of $23.52, this dividend works out to approximately 0.26%.