S&W has been retained by Gouverneur Savings & Loan Association (“GS&L,” gouverneurbank.com) to manage the search and selection process for the bank’s next President & CEO.
Headquartered in Gouverneur, New York, GS&L is a 131-year-old, approximately $205MM community bank serving communities along the Saint Lawrence River and Lake Ontario. The bank provides a range of deposit and lending services to individuals, families, and businesses within its North Country footprint. In 2022, GS&L completed the acquisition of Citizens Bank of Cape Vincent, expanding the bank’s footprint into Jefferson County and allowing GS&L to continue to serve their customers with a high level of personal service across the bank’s expanded five branch network. Following the acquisition, GS&L established a subsidiary limited-purpose municipal bank to service the deposit needs of the area’s municipalities, which is owned and operated by the bank’s holding company. GS&L is in strong financial condition; for the period ending on March 31st, 2023, the bank had $205MM in total assets, total deposits of $179MM, total stockholders’ equity of $26MM, and a core capital ratio of 10.73%. Pursuant to the bank’s mission to “invest in, support, and nurture the communities [they] serve,” the bank’s parent company, Cambray Mutual Holding Company announced that Gouverneur Bancorp, Inc (OTC Pink: GOVB) adopted a Plan of Conversion and Reorganization and will reorganize into a fully public stock holding company, anticipating regulatory approval by the third calendar quarter of 2023. The additional capital raised through the conversion will allow the bank to execute upon a regulator-approved plan to expand its geographic footprint and service offerings. GS&L is regulated by the FDIC and New York Division of Banks.
The President and CEO of GS&L will be responsible for providing strategic leadership, driving operational excellence, and ensuring the growth and success of this community-focused bank. We are seeking an exceptional well-rounded banking executive to lead the bank into its next chapter. For additional information, or to arrange a confidential conversation, please contact a member of the S&W search team: Moriah Maron, Consultant, Financial Services (email@example.com) or Cameron Boyd, Managing Partner, Financial Services (firstname.lastname@example.org).