Legacy Bancorp, Inc. Announces Retirement of Chief Financial Officer
December 21 2007 - 12:28PM
Business Wire
Legacy Bancorp, Inc. (the �Company�) (NASDAQ:LEGC), the holding
company for Legacy Banks (the �Bank� or �Legacy�) announced today
that Stephen M. Conley, Senior Vice President, Treasurer and Chief
Financial Officer intends to retire from those positions effective
January 1, 2008. At the same time the Company also announced that
Paul H. Bruce, its current Senior Vice President, Finance, will be
promoted to Chief Financial Officer effective upon Mr. Conley�s
retirement. Mr. Bruce has been employed at the Bank for 6 years and
prior to his current position served as Vice President, Finance.
Since joining Legacy, Mr. Bruce has been responsible for financial
reporting, and since the Company�s public offering, S.E.C.
reporting and Investor Relations. Mr. Bruce will maintain those
responsibilities as C.F.O. J. Williar Dunlaevy, Chairman and Chief
Executive Officer, said, �We are extremely grateful to Steve Conley
for his strong financial management and many other contributions
over the past 32 years. He has represented Legacy extraordinarily
well. All of our associates and I will miss our daily interaction
with Steve, and we wish him and his family the very best in his
retirement.� Mr. Dunlaevy also noted that Mr. Conley was
instrumental in managing the Bank�s financial infrastructure during
its successful initial public offering in 2005. Mr. Conley has
served in his current capacity for the Company since its inception
in 2005 and its predecessor, Mutual Bancorp since its inception in
1997, and at the Bank since 1996 at its predecessor, City Savings
Bank. Mr. Conley has been employed by the Bank since 1975 in
positions of increasing responsibility, including manager of
accounting, controller, vice president and treasurer and senior
vice president and treasurer. Mr. Conley�s extensive business and
community leadership includes director of the Dalton Community
Recreation Association, past director of the Berkshire United Way
and past president of the Pittsfield Girls Club and Pittsfield
Rotary Club. Mr. Conley is a graduate of Bentley College, the
University of Massachusetts School of Business (M.B.A.) and the
Graduate School of Banking at Fairfield University. Commenting on
Mr. Bruce�s appointment as Chief Financial Officer, Mr. Dunlaevy
stated, �We are fortunate to have an individual of Paul�s
experience and caliber to support our present and future growth and
profitability. Paul is a valued member of our executive leadership
team and we look forward to his assumption of the additional
responsibilities of Chief Financial Officer.� Mr. Bruce is a
Certified Public Accountant and is a graduate of the University of
Notre Dame in South Bend, IN, Western New England College (M.B.A.),
Bryant College (Masters of Science � Taxation), and the Graduate
School of Banking at Fairfield University. Mr. Bruce also holds the
designations of Certified Management Accountant and Certified
Internal Auditor. He has been a member of The Earth Angels cast for
the past ten years. Legacy Banks is headquartered in Pittsfield,
Massachusetts. It employs 186 people and has sixteen offices
throughout Berkshire County, Massachusetts and eastern New York, as
well as a Loan Production Office in Colonie, New York. Legacy
offers Personal Banking, Mortgage Lending, Commercial Services,
Insurance, Investments, Portfolio Management, Credit and Debit Card
products, and Online Services. FORWARD LOOKING STATEMENTS Certain
statements herein constitute �forward-looking statements� within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements are based on the beliefs and expectations of
management, as well as the assumptions made using information
currently available to management. Since these statements reflect
the views of management concerning future events, these statements
involve risks, uncertainties and assumptions. As a result, actual
results may differ from those contemplated by these statements.
Forward-looking statements can be identified by the fact that they
do not relate strictly to historical or current facts. They often
include words like �believe,� �expect,� �anticipate,� �estimate,�
and �intend� or future or conditional verbs such as �will,�
�would,� �should,� �could� or �may.� Certain factors that could
cause actual results to differ materially from expected results
include changes in the interest rate environment, changes in
general economic conditions, legislative and regulatory changes
that adversely affect the businesses in which Legacy Bancorp is
engaged and changes in the securities market. Readers are cautioned
not to place undue reliance on these forward-looking statements,
which speak only as of the date of this release. The Company
disclaims any intent or obligation to update any forward-looking
statements, whether in response to new information, future events
or otherwise.
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