Page 65 - The History of Watertown Savings Bank_Neat

Mark R. Lavarnway started his career at Since Mr. Lavarnway’s tenure as president and
Watertown Savings Bank in 1993 as a commercial CEO there has been significant growth in the
loan officer. Prior to joining the Watertown bank’s assets. In 2010, the bank had $433 million
Savings Bank, Mr. Lavarnway was employed by in assets, and by 2017, that figure had increased to
Marie Midland Bank. He was hired by WSB $657 million.
to develop a full-fledged commercial banking Support for the community has continued to be
department that would serve all the needs of local a top priority under Mr. Lavarnway’s leadership.
businesses. It was a strategic move by WSB to Last year, Watertown Savings Bank donated more
expand upon all the commercial banking services it than $335,000 to nonprofit organizations, earning
could offer to fully serve the community. recognition by Banking New York magazine as
Mr. Lavarnway’s role in the commercial lending
Mark R. Lavarnway department included business development, “Top Community Supporter” in New York State.
A Watertown native, Mr. Lavarnway graduated
Watertown Savings Bank compliance, policy-setting, and overall from Watertown High School in 1984 and
President and CEO management of the department. By 1998, Mr. from Potsdam State University in 1988 with a
bachelor’s degree in economics. He father, Lee,
Lavarnway was promoted to vice president and
2010 - Present Burns photo senior loan officer, responsible for all commercial, owned Sportsman’s Barber Shop on State Street
consumer and residential lending. for many years, and his mother, Barbara, was
employed at WWNY-TV.
He worked diligently to create affiliations
with the US Small Business Administration and He continued his education at Oswego State
various economic development agencies, and at University, earning his master’s degree in business
the same time, to develop WSB into a top market administration in 1998. He later completed the
lender. Under Mr. Lavarnway’s direction, the SBA National School of Banking at Fairfield University,
recognized Watertown Savings Bank as “Small Connecticut, graduating with honors in 2001.
Bank Lender of the Year” in the Upstate New York He currently serves on the board of directors for
District for several consecutive years. the Northern New York Community Foundation
and the Children’s Home of Jefferson County.
The bank’s commercial lending department grew
significantly under Mr. Lavarnway’s leadership. By Mr. Lavarnway is also on the board for the New
York Business Development Corporation, Albany.
1997, WSB had more than $24 million in total
commercial loans. That amount increased to over Mr. Lavarnway has served on boards and/
$89 million in 2007, and exceeded $272 million by or committees in the past for the Watertown
the end of 2017. Housing Authority, the Watertown Family
YMCA, Sisters of St. Joseph, the Sacred Heart
Mr. Lavarnway was elected to the WSB Board Foundation, the United Way of Northern New
of Trustees in 2002 and appointed executive vice York, and the Watertown Urban Mission.
president in 2007. He was elected to his current
position of Watertown Savings Bank President He and his wife Joanne, live in Watertown and
and CEO by the board of trustees in 2010. have three children, Marcus, Julia and Vincent.

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