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Exhibit 99
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Thursday November 9, 4:40 pm Eastern Time
Press Release
BSB Bancorp, Inc. Names Howard W. Sharp as President & CEO
BINGHAMTON, N.Y.--(BUSINESS WIRE)--Nov. 9, 2000--The Board of Directors of BSB
Bancorp, Inc. (NASDAQ: BSBN - news), announced today that Howard W. Sharp will
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serve as the new president and chief executive officer of both the Company and
its subsidiary, BSB Bank & Trust Company. Mr. Sharp also joins the Boards of
Directors of both companies.
William C. Craine, chairman of the Board of Directors of BSB stated, "We are
very pleased that we have successfully completed our search for a new president
and CEO. Howard has a very strong and diversified commercial banking
background, spanning 30 years. His credentials include extensive experience in
the area of commercial lending. He has an admirable track record of originating
and managing loan portfolios, while maintaining a strong credit culture. We are
confident that his leadership in this area will help BSB re-build shareholder
value. In addition to the support of the Board, we are confident that Howard
will have the complete support of our management team as we focus on the
strategic direction of our Company."
Mr. Sharp stated, "I am pleased to join BSB. This is a wonderful opportunity to
work with a great management team, and a strong franchise in the Southern Tier
and Central Regions of upstate New York. The markets served by the Bank have
shown a strong acceptance of its style of community banking and we will continue
that commitment to first class service while maintaining an unwavering focus on
asset quality. I look forward to the opportunity to restore shareholder
confidence in the Company, as we re-focus operations to build value in pursuit
of the best long term interests of shareholders."
Sharp replaces interim president and chief executive officer, Thomas L. Thorn.
Mr. Thorn, who has been a director of BSB since 1995 and agreed to fill the
interim position earlier this year, will remain on the Boards of both the
Holding Company and the Bank. Thorn also has agreed to continue to serve as an
interim executive officer to assist in an orderly transition of
responsibilities. Mr. Craine commented on the service of Mr. Thorn, saying,
"Tom has served this Company with distinction during his tenure as interim
president and the Board and employees are indebted to him for his contributions.
We look forward to his continued participation as a director."
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Sharp most recently was associated with M & T Bank, where he served as president
of its Syracuse Region since April 1998. In that position, he was responsible
for supervision of all the Bank's activities in the region. Prior to 1998, he
served in various senior management positions with OnBancorp Inc. and its
principal subsidiary, OnBank & Trust Co. OnBancorp was a $6 billion bank
holding company headquartered in Syracuse, New York, which was acquired by M&T
Bank in 1998. At the time of the acquisition, Sharp was senior executive vice
president and chief operating officer of both OnBancorp and its lead bank.
Prior to joining OnBancorp in 1989, Sharp served as CEO and in various other
management positions with subsidiary banks of Boatmen's Bancshares Inc., a $30
billion bank holding company located in St. Louis, Mo.
Contact:
BSB Bancorp, Inc., Binghamton
Thomas L. Thorn, Acting President & CEO, 607/779-2584
www.bsbbank.com
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