Alton B. Parker, president of the bank from 1896 to 1904 and Democratic nominee for President of the United States in 1904.A recent photo of the original location in Kingston NY, located on Wall street.
During this time, it was named the Ulster County Savings Institution. The day this bank was chartered by the New York State legislature, it became the first savings bank in Ulster County, New York.
On June 19, 1851, Severyn Bruyn, Ulster Saving Bank's very first customer, made the first deposit, totaling $120.[4] Today, that deposit would be equivalent to $4,806.50.[5]
Between 1858 and 1868, deposits grew from $21,982 to $646,922 as the population of Kingston grew from 15,000 to 20,000.[3]
In 1891, the treasurer and assistant treasurer of the bank were accused of stealing more than $400,000, resulting in the temporary closure of the bank.[6] Both received prison sentences as a result of their actions in 1892.[7]
In 1892, John B. Alliger was named treasurer of the bank. At that time, the bank had $1.835 million in deposits. By 1916, the bank had $5.135 million in deposits.[3]
In 1896, Alton B. Parker was named president of the bank and served until his resignation in 1904.[3]
In September 2011, Lisa Marie Cathie was named president and chief executive officer of the bank, succeeding Marjorie Rovereto.[8]
The first President of Ulster Savings Bank, Archibald Russell. One of a few local founders who pooled their assets to create a community financial institution; that today, is the oldest operational bank in the Hudson Valley.
In 2015, Glenn B. Sutherland replaced Lisa Marie Cathie as president and chief executive officer.[9]
An illustration from an early newspaper of the first location the bank, which is still operational today and located on Wall street, Kingston, NY.
In 2015, to celebrate its 150th anniversary of inception the bank formalized their regular donations to the community into a formalized program called the Ulster Savings Bank Charitable Foundation. Prior to this, throughout the bank's long history, millions of dollars have been donated and thousands of local residents helped by its giving programs. This demonstrated the institution's desire to find creative ways to work with their customers to help spread kindness throughout Ulster, Orange, and Dutchess counties.[10]
In June 2016, William C. Calderara was named president and chief executive officer of the bank.[11][12]
In October 2018, the bank was named among the top extraordinary banks in the United States by the Institute for Extraordinary Banking.[13]
In the year 2023, Ulster Savings Bank staff donated over 5000 volunteer hours to local non-profits, and the Charitable Foundation donated $619,000 to charities within the communities that they serve.
Ulster Savings Bank stands today as a healthy bank with a high net worth, strong capital and high-quality assets.
Ulster Savings is the oldest bank in the Hudson Valley, the 8th oldest in New York and the 52nd oldest bank in the country.[14]
