NORWICH – The 48th Commerce Chenango (formerly the Chenango County Chamber of Commerce) Annual Dinner Wednesday night marked and honored both change and tradition; two keys to business that can, and must, coexist, honorees and ceremony speakers said.
NBT Bancorp, over half-way through its 150th year of operation, received the “Distinguished Business of the Year” award for its long-standing role as an ever-diversifying and growing business leader in Chenango County – and well beyond, with over half-a-million customers in 24 counties throughout New York state and Pennsylvania.
“People in business aspire to be like NBT and reach those lofty heights you folks are at,” Commerce Chenango Chairman Greg Sheldon told a crowd of around 140. “You’re an inspiration.”
Prior to recognizing NBT, however, Chamber officials doubled the awards dinner with official business, taking a member vote to accept the organization’s adoption of a new name, “Commerce Chenango.” It passed with an overwhelming majority.
“When businesses and individuals from outside this county look to us for assistance or information, we wanted to have it take only one phone call, with one image,” said Sheldon, who said the name change is part of consolidation efforts that have been underway for several years. “That’s the primary reason (for the change).”
The crowd also welcomed Commerce Chenango’s soon-to-be first President Maureen Carpenter, who will be replacing interim President Sewain Conklin once her former position as the agency’s Economic Development Director can be filled.
“She (Carpenter) is an immensely hard worker,” said J. Peter Chaplin, the former senior vice president of Sheffield Products/Quest International. “I can’t think of a better person to represent the county and now Commerce Chenango.”
Carpenter said, aside from furthering economic development and small business growth, moving forward with Commerce Chenango – which, besides a name change, involves combining the Chenango County Area Corporation and the Greater Norwich Local Development Corporation – is one of her top priorities.
“This is an exciting time,” Carpenter said. “It’s time for Commerce Chenango to start kicking and moving itself forward.”
Carpenter led the crowd through the 150 years of NBT’s history – from humble beginnings in 1856 with four employees to its current status as a leader in the banking industry, with over $5 billion in assets.
“We believe we have a very special story at NBT,” President and CEO Martin Dietrich said. “And the real story is our employees.”
Dietrich said NBT’s success is a direct result of the bank’s more than 1,400 employees and their daily efforts.
“We feel we have a real competitive advantage with the quality of our employees and the services they provide,” he said. “It’s such a thrill to work with the folks we have. We ask a lot of them and they always exceed our expectations.”
Dietrich added that the bank is fortunate to be headquartered in Chenango County.
“We’re still a hometown bank, and Chenango County is a good place to be – and a good state of mind,” he said. “It’s a competitive advantage to be headquartered where we are.”
The bank recorded record earnings in 2006, topping the $52 million mark. Since 1856, the bank has increased its net assets by nearly 40,000 percent.
“NBT Bank is a great resource to the area,” said I.L. Richer CEO John Mitchell, who is a bank customer and board member. “Not just for the business they generate, but also how they continue to grow each community... NBT really characterizes what a community bank is all about.”
Commerce Chenango officials and local business leaders also took time to thank interim President Sewain Conklin for his efforts in finalizing the consolidation effort during a transitional period.
“I’ve truly enjoyed the opportunity to be president,” Conklin said, after being praised for his unplanned jump into the top-spot in December. “We’ve all worked very well together. Everyone stepped up to the plate.”
Chaplin also received kudos for his dedication to numerous community efforts. He is retiring in April from his chair position on the Chenango County Area Corporation, an extension of Commerce Chenango.