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January 24, 2024

Bank with increasing CT presence announces new CEO, C-suite shake up

HBJ PHOTO | SEAN TEEHAN NBT Bank President and CEO John Watt Jr.
By Greg Bordonaro

New York-based NBT Bancorp Inc., which has significantly grown its Connecticut presence in recent years, announced it will have a new CEO this spring. 

John H. Watt Jr. will step down as NBT’s president and CEO on May 21, the bank announced. 

He will be replaced by current NBT Chief Financial Officer Scott A. Kingsley, who will become CEO and also a member of the bank’s board of directors. 

Watt will continue to serve on NBT’s board and become vice chairman in May.

In addition, Joseph R. Stagliano, NBT’s current president of retail community banking and chief information officer, will become NBT Bank’s president, while Annette L. Burns, NBT’s chief accounting officer, will be promoted and assume the role of chief financial officer.

NBT, with $13.8 billion in assets, entered the Connecticut market in 2020, and significantly grew its presence in the state last year with its purchase of Salisbury Bank and Trust Co. 

Salisbury Bank had 13 offices in northwestern Connecticut, the Hudson Valley and southwestern Massachusetts, which are now part of NBT.

In Greater Hartford, NBT also has a Glastonbury branch, and the bank recently announced plans to open a West Hartford branch. 

Watt has been NBT’s president and CEO since 2016.

Kingsley, a CPA, joined NBT in 2021, and has more than 35 years of experience, including 16 years as a member of the management team at Community Bank System Inc., where he served as chief operating officer and, prior to that, as chief financial officer. 

Stagliano joined NBT in 1999. He has over 30 years of experience in the financial services industry, the bank said. Today, he oversees the company's operations and retail banking divisions. He was promoted to chief information officer and joined the company's executive management team in 2006. 

Burns joined NBT in 2013 with the company’s acquisition of Alliance Bancorp. A CPA, she has over 25 years of experience in accounting and finance. She started her career at PwC.
 

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