Board of Directors

Allen F. Grum, became a director in 1996.  He has served as President and Chief Executive Officer since January 1996.  Prior to becoming President, Mr. Grum was employed in the banking and mortgage banking industries.  Mr. Grum serves on a number of boards of directors of companies in which the Corporation has an investment.

Erland E. Kailbourne, became a director in April 1999.  Since May 2009, Mr. Kailbourne has been Chairman of Albany International, Inc.  He also served from January 2006 until May 2010 as Chairman of Financial Institutions, Inc. and its subsidiary Five Star Bank.  From May 2002 until March 2003, Mr. Kailbourne was Chairman and Interim CEO of Adelphia Communications.  Prior thereto, he was Chairman and Chief Executive Officer of Fleet National Bank, New York Region and Chairman and Chief Executive Officer of Security Norstar Bank.  He is a Director of the New York ISO, Financial Institutions, Inc., Allegany Co-op Insurance Company, the Farash Corporation and the Thomas and Laura Moogan Foundation.

Ross B. Kenzie, became a director in 1996. Mr. Kenzie has been retired since 1989. Prior thereto, he was the Chairman of the Board and Chief Executive Officer of Goldome Bank, a savings bank, since 1980.

Robert S. McLeese, CPA, CA., became a director in 2015.  A Director and Officer of Colmac Holdings Limited since 1977, he became President in 2011, which holds the stock of various other companies and invests excess funds; founder and President of Access Capital Corp. since 1990, which provides advice to developers, lenders, purchasers and sellers of independent power projects and assists in negotiating financing for such persons or entities; and Chairman and Chief Executive Officer of ACI Energy, Inc., which is an owner-operator of solid fueled power plants.  Rob is also a Board Member of Export Development Canada.

Reginald B. Newman II, became a director in 1987. Mr. Newman has been Chairman of the Board since 1996. Mr. Newman is the Chairman of Prior Aviation Services, Inc., the fixed-base operator at Buffalo Niagara International Airport, Buffalo, NY. Mr. Newman is also a Director of M&T Bank Corporation, Dunn Tire LLC and Taylor Devices, Inc. and also serves as Trustee and Chairman of the University at Buffalo Foundation, Inc.

E. Wycliffe Orr, Jr., became a director in 2015.  Mr. Orr is a research analyst with Concourse Capital, an alternative investment fund manager.  Since 2014, Mr. Orr has served as chairman of BACE, LLC, a waste and recycling equipment manufacturer.  From 2013 to 2015, Mr. Orr was a managing director of JAM Capital Partners Management, a private investment firm.  Prior thereto, from 2011 to 2013, Mr. Orr was a research analyst with Privet Fund Management, a hedge fund. Mr. Orr was previously a portfolio manager for Timbervest Crossover Partners II, L.P., a real estate private equity firm, from 2006 to 2009.  Mr. Orr is a CFA Charterholder and member of the State Bar of Georgia.

Jayne K. Rand, became a director in 1989. Since 1993, Miss Rand has been a Vice President of M&T Bank Corporation.

Robert M. Zak, became a director in 2005. Since 1995, Mr. Zak has been President and Chief Executive Officer of Merchants Mutual Insurance Company, which operates under the trade name Merchants Insurance Group. Mr. Zak joined Merchants in 1985. Prior thereto, his career was in public accounting.