Community banking

Suffolk Bancorp Hires CFO From Recently Sold New York Bank

Published February 07, 2012, 9:47 a.m. EST

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Updated February 07, 2012, 8:47 a.m. EST

1 Min Read

Suffolk Bancorp in Riverhead, N.Y., has filled its vacant chief financial officer position by hiring from a former competitor.

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The $1.5 billion-asset said in a press release Tuesday morning that Brian K. Finneran has become its chief financial officer, filling a post that had been unoccupied since last June. Finneran was the CFO at State Bancorp, which was sold last month to Valley National Bancorp.

The hiring is the second key addition for Suffolk in recent weeks. Howard Bluver joined the company as its president and chief executive last month.

During 2011, Suffolk delayed reporting some of its earnings, which almost cost the company its listing on the Nasdaq. Suffolk also revised its loss for the first quarter of 2011 and restated its results for the third and fourth quarters of 2010. Last week, Suffolk announced that it lost $76,000 in 2011.

Founder, Bank Slate

Paul Davis is the founder of Bank Slate, a financial strategy and research firm. He previously led community bank coverage at American Banker.

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