KINGSTON – Rondout Savings Bank’s President and CEO, James F. Davenport has announced his plans to retire from the bank by the end of this year. Davenport who joined the bank in 2001 is a lifelong resident of Ulster County and well-respected Bank Executive who places a high value on community and client satisfaction. He will be joining his wife Nancy in their relocation to Charlotte, North Carolina, where she has been named to an executive level position at Brighthouse Financial.
“Jim has earned the highest respect from the Board of Trustees and the entire banking staff. We are grateful for the significant accomplishments he has made to position Rondout Savings Bank for continued growth. His presence and vision will be missed,” explained Frank G. Ostrander, III – Chairman of the Board of Trustees at Rondout Savings Bank.
Under Davenport‘s leadership, Rondout Savings Bank’s assets have doubled in size and the number of locations has increased from two branches to five total branch locations; four in Ulster County and one in Dutchess County. His vision to develop the Bank’s commercial product offering for those business owners seeking more personal attention played a significant role in positioning the bank for further expansion. Recent developments include a new loan production center.
Davenport’s most notable achievement is the Bank’s “Best of Bauer Award of Excellence” rating, an accomplishment only achieved by 4.2% of the banks surveyed nationally. The 5-Star superior rating indicates that Rondout Savings Bank is one of the strongest in the nation.
With a long history of charitable giving and community involvement, Davenport has conveyed his compassion for people and his devotion to economic growth by getting involved. He actively serves in leadership roles on highly respected boards such as the Community Foundation of the Hudson Valley; The Rip Van Winkle Council Boy Scouts of America; Health Alliance Foundation and the New York Bankers Association to name a few.
Ostrander explained, “Jim has provided valued advice and financial solutions to hundreds of stakeholders, civic leaders and business owners, he exemplifies the spirit and purpose of a community bank.”
“Rondout Savings Bank Trustees have begun the search for a new President and CEO. Jim’s replacement will have strong leadership skills, banking expertise, and a commitment to the success of the bank’s customers and charitable organizations in the communities that we serve,” stated Ostrander.