Community Bank System, Inc. announced two senior management changes.

Joseph F. Serbun, President, Retail Banking, of the Company and its wholly owned subsidiary, Community Bank, N.A., has decided to retire after more than 14 years of service. Serbun joined the Bank in January 2008 as Vice President and Commercial Team Leader, and was named to the executive management committee in 2010. Since 2010, he has served in important senior management roles including Chief Credit Officer, Chief Banking Officer and President, Retail Banking, playing an instrumental role in the Bank’s growth and success. Serbun will retire from his position effective Sept. 30.

Mark E. Tryniski, the President and Chief Executive Officer (CEO) of the Company and the Bank, said, “Joe has served as an important leader of the Bank and the Company and has been responsible for shaping our culture and growth for the past 14 years. We will miss Joe and wish him the best in his retirement.”

In addition, the Company announced it has promoted Dimitar Karaivanov to Executive Vice President and Chief Operating Officer of the Company and the Bank effective Oct. 1. Karaivanov has served as Executive Vice President of Financial Services and Corporate Development since joining the Company in June 2021. In his role as Chief Operating Officer, Karaivanov will have oversight responsibilities for all banking, wealth management, employee benefit services, and insurance operations and related business activities.

Tryniski commented, “I am excited to announce the appointment of Dimitar Karaivanov as the Company’s Chief Operating Officer. Since joining the Company, Dimitar has brought fresh ideas and innovative thinking to his role as the Executive Vice President of Financial Services and Corporate Development. Dimitar has effectively led the Company’s mergers and acquisition strategy and reshaped the Company’s wealth management, employee benefit services, and insurance business units. Through this appointment, he will begin to focus his attention on our banking operations in order to optimize our core business with a focus on increased revenue growth.”

Community Bank System, Inc. operates over 220 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of over $15.4 billion, the DeWitt, NY headquartered company is among the country’s 125 largest banking institutions.