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Published July 27, 2008 05:46 am - Donation made; Bank earns rating; School completed; Golf benefit; Architect elected; Businesses honored; Lobby Day.

Business Briefs: July 27, 2008



Donation made

PLATTSBURGH -- Perrywinkle's Fine Jewelry recently donated a Breitling Super Ocean Steelfish chronometer to Mayor's Cup Regatta winner Michael Parsons.

The $2,850 watch features a synthetic sapphire crystal that is glare proofed on both sides. The crown is screwed down to the case and the watch is water resistant to 6,600 feet. The self-winding Breitling 17 mechanical movement is certified by the COSC, the official Swiss chronometer testing institute.

"Basically, it's the best watch made in the world," said Perrywinkle's owner Perry Sporn. "I travel to the factory in Switzerland every year to inspect and review the manufacturing process."

Bank earns rating

UTICA -- Adirondack Bank recently earned a four-star "excellent" rating for the first quarter of 2008 from BauerFinancial Inc., the nation's leading independent-bank research firm.

In determining ranking for financial institutions, BauerFinancial Inc. relies on a formula of criteria factoring in current and historical data. Among the criteria considered are the financial institution's capital ratio, financial/loss trend, level of delinquent loans and repossessed assets, reserves, regulatory compliance, proposed regulations, asset quality and other factors.

Earning a four-star rating indicates that Adirondack Bank is a financial institution that is safe, financially sound and is operating well above its regulatory capital requirements. This rating places Adirondack Bank on Bauer's Recommended Bank Report.

"This marks the sixth consecutive quarter that we have achieved the four-star rating," Adirondack Bank President and Chief Executive Officer Gary W. Kavney said. "Earning this designation can be directly attributed to Adirondack Bank's team of dedicated professionals who strive to meet the financial needs of the communities we serve. We will continue to maintain a sound, strong and positive financial direction."

Adirondack Bank is a full-service community bank with 17 locations throughout upstate New York and executive headquarters at 185 Genesee Street in Utica. The bank was founded more than 100 years ago and currently employs more than 150 people.

School completed

PLATTSBURGH -- Jody L. Carpenter, director of marketing, and Shari L. Seney, office manager of UFirst Federal Credit Union, completed Jim Aho's Financial Management School I, II, III and IV in June.

The school was designed to provide participants with a basic to advanced understanding of credit union financial statements.

Golf benefit

PLATTSBURGH -- The newly renovated Putt Putt Course at the Comfort Inn in Consumer Plaza at the entrance to Wal-Mart will be open today from 10 a.m. to 10 p.m. and will feature a Heart Putt 2008 Benefit for the Plattsburgh Heart Walk.



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