Congratulations to Genesee Regional Bank’s (GRB) President and CEO Philip Pecora on being named to the Rochester Business Journal’s (RBJ) Power 30 Banking & Finance 2024 list.
From the RBJ’s Associate Publisher and Editor Ben Jacobs, “The list includes individuals who spend their careers helping members of the Rochester community navigate increasingly ever-changing financial circumstances.”
Leadership through change
Under Pecora’s leadership, GRB has shown steady growth. While the Fed rate hikes did present a significant challenge for the banking industry as a whole, GRB remained on solid financial ground and has grown to more than $1.1 billion in assets. Pecora sees recent merger and acquisition activity as a signal for further consolidation in the industry.
“Now that interest rates are normalizing, negative marks on bank balance sheets are improving, which will likely open the door for more merger & acquisition activity. Meanwhile, several out-of-town (and state) community banks have announced their intent to open offices in the Rochester market. 2025 looks to be an active year in the banking industry,” said Pecora.
Keeping it personal
According to Pecora, one of the key’s to GRB’s continued growth is the high-touch service that GRB is known for among businesses, residents, and homebuyers. He provides advice for those just starting out in the banking industry that follows that theme.
“Building relationships within your company and in the community is one of the most important drivers of success in banking and, frankly, most careers. There is no better way to build relationships with your co-workers, your boss, vendors, and clients than spending time with them, in person,” said Pecora. “There is also no better way to learn than being around others. Be present.”
Read the full article the Power 30 on the RBJ website.
Congratulations, Phil!
