News Room

January 31, 2014
Cortland Bancorp Declares Quarterly Cash Dividend of $0.03 per Share

CORTLAND, Ohio – January 31, 2014 -- Cortland Bancorp (OTCQB: CLDB), the holding company for Cortland Savings and Banking Company, today announced that its Board of Directors declared its regular quarterly cash dividend of $0.03 per share.  The dividend will be payable on February 28, 2014, to common shareholders of record as of the close of business on February 10, 2014.

January 31, 2014
Cortland Bancorp Earns $1.8 Million or $0.39 per Share in 2013;
CORTLAND, Ohio – January 31, 2014 -- Cortland Bancorp (OTCQB: CLDB), the holding company for Cortland Savings and Banking Company, today reported 2013 profits were impacted by charges for its investment portfolio due to regulatory changes mandated by the Volcker Rule.  In 2013, Cortland earned $1.8 million, or $0.39 per share, compared to $2.9 million, or $0.64 per share in 2012.  Excluding the charges for the investment portfolio, which were $2.0 million pre-tax and $1.3 million after tax, Cortland would have earned $3.1 million, or $0.68 per share, in 2013.
October 31, 2013
Cortland Bancorp Reports Third Quarter Earnings
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $617,000, or $.14 per share for the quarter ending September 30, 2013 compared to net income of $1.3 million for the same three month period a year ago, or $.28 per share.  Year-to-date net income for the nine months ended September 30, 2013 was $2.2 million or $.50 per share versus $3.4 million, or $.75 per share for the same period in 2012.
October 30, 2013
Cortland Bancorp Declares Dividend
CORTLAND (10/30/13) - CORTLAND BANCORP (the “Company,”OTCQB: CLDB) today announced that its Board of Directors has approved a cash dividend of $.03 per share payable on or after November 29, 2013 to shareholders of record as of the close of business on November 12, 2013.
October 23, 2013
John D. Yurchison joins Cortland Banks as Vice President, Commercial Banking
CANFIELD – (10/23/13) Cortland Banks is pleased to announce the recent addition of John D. Yurchison as Vice President, Commercial Banking.  With more than 27 years of banking experience, John is an experienced commercial loan officer who has been recognized for organizing and managing complex C&I and commercial investment real estate relationships. John’s specialties include SBA lending, origination, structuring and servicing.
September 04, 2013
Cortland Bancorp to Present at INVESTOhio Equity Conference
The event, to be held September 12, 2013, at the Ohio Union on the campus of The Ohio State University, features public companies from all across Ohio, providing a forum for analysts, fund managers and other professional investors in the region to interact face to face with senior executives. James M. Gasior, President and Chief Executive officer for Cortland Bancorp will present from 1:10 p.m. to 1:45 p.m.
August 01, 2013
Cortland Bancorp Declares Dividend
CORTLAND - (8/1/13) - CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today announced that its Board of Directors has approved a cash dividend of $.03 per share payable on or after August 28, 2013 to shareholders of record as of the close of business on August 12, 2013. 
July 31, 2013
Cortland Bancorp Reports Second Quarter Earnings
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $799,000, or $.18 per share for the quarter ending June 30, 2013 compared to net income of $952,000 for the same three month period a year ago, or $.21 per share.  Year-to-date, net income for the six months ended June 30, 2013 was $1.6 million or $.36 per share versus $2.1 million, or $.47 per share for the same period in 2012.
July 26, 2013
Trumbull County YMCA Partners with Cortland Banks, Creating Summer Financial Literacy Program
WARREN - Recognizing the need for financial literacy beyond the school year, Cortland Banks and the Trumbull County YMCA, have joined forces to create the Strong Saver program that consists of six Financial Literacy Events (2 per month) during the camp that spans 12 weeks. The program promotes financial literacy to children in grades K-8, in addition to high school-aged students. The next lessons will take place on Friday, July 26, 2013 in Warren at the Trumbull County YMCA at 9:30 a.m.
July 24, 2013
CSB Mortgage Enters Dayton Market, Anticipates Growth
DAYTON – The Cortland Savings and Banking Company, “Cortland Banks”,of Northeast Ohio is pleased to announce the expansion of its wholly-owned subsidiary, the CSB Mortgage Company, Inc. into the Dayton mortgage market, which will be led by one of the nation's top mortgage loan originators, Kathy Shaw.
June 10, 2013
Cortland Banks Introduces New Team Members, New Positions
CORTLAND – (6/10/13) Chief Executive Officer James Gasior and Executive Vice President Tim Carney, along with the Board of Directors, are pleased to announce Cortland Banks’ newest team members Bryan Ignazio, Mindy Wiesensee, Rita Fuscoe and Colleen Kurilla. These individuals encompass unique strengths and knowledge, allowing them to assist customers in meeting their financial goals.
June 10, 2013
Lance Morrison joins Cortland Banks as Vice President, General Counsel
CORTLAND – (6/10/13) Cortland Banks is pleased to announce the recent addition of Lance A. Morrison as Vice President, General Counsel and Director of Human Resources.  With more than 21 years of legal experience, Lance’s practice specialties include employment law, commercial real estate, corporate law and general business law.
June 05, 2013
Cortland Banks Awards OH WOW! Museum $2,000
On Wednesday, June 5, 2013, Cortland Banks will be sponsoring 80 first graders from McGuffy Elementary in Youngstown. They will be receiving financial literacy lessons between 10 a.m. and 11 a.m.  Last year, students from Warren, Youngstown and Windham were able to turn Cortland Banks’ grant into field trips, full of learning and fun.
May 30, 2013
Cortland Banks Branches Into Investments With Cortland Investment Group, New Advisors
Cortland Banks and Investment Professionals are pleased to announce the hiring of Brent L. Blaus and Kim S. Powell, as Financial Advisors for the Cortland Investment Group, the investment and wealth management products and services group.
May 28, 2013
Board of Directors Announce Langhenry Appointment, Carleton Retirement
CORTLAND – (5/28/13) Cortland Bancorp the holding company for the Cortland Savings and Banking Company (the “Bank”), announced today that the Company’s Board of Directors approved the appointment of Joseph Langhenry as a member of the Board of Directors of the Company and Bank.  The appointment is effective May 28, 2013.
May 01, 2013
Cortland Bancorp Declares Dividend
CORTLAND (5/1/13) - CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today announced that its Board of Directors has approved a cash dividend of $.03 per share payable on or after May 28, 2013 to shareholders of record as of the close of business on May 13, 2013.
April 30, 2013
Cortland Bancorp Reports First Quarter Earnings
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $830,000, or $.18 per share for the quarter ending March 31, 2013 compared to net income of $1.2 million for the same three month period a year ago, or $.26 per share.  Total loans at March 31, 2013 were $297.5 million as compared to $277.4 million a year ago, a 7.2% increase.  Total assets of $546.5 million at March 31, 2013 reflect an increase of 7.5% from year ago asset totals of $508.4 million with loans providing the core growth.
April 02, 2013
Cortland Banks Welcomes James Wellington to the Mortgage Team
BOARDMAN – (4/2/13) Cortland Banks is pleased to announce the recent addition of James Wellington to its Mortgage Team.  With more than 25 years of banking and mortgage experience, James is recognized as one of the top producing originators in the local area.  He joins Rocky Page in Mahoning County and Joni Everson in Trumbull County,  to form a  team uniquely qualified in providing mortgage products and services in the local residential real estate market.
March 15, 2013
Cortland Bancorp Earnings Revision
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) is announcing revised earnings for the fourth quarter and year ended December 31, 2012.  After the Company’s earnings release on January 31, 2013, the Company determined that an additional provision for loan losses of $1.9 million will be required as a result of further information obtained by the Company about one of its commercial loan customers.
March 14, 2013
Bank Begins Renovations to Main Office Lobby
CORTLAND – (3/14/13)  As Cortland Banks continues to build and strengthen both its retail branch operations and mortgage department, it was determined more space was needed at the Main Office in Cortland to house its growing local employee base. Renovations to the main office lobby and customer service areas began on March 9 and will continue through April. The lobby will remain open during renovations.
February 26, 2013
Working Together, Works. Cortland Banks joins Harvest for Hunger.
Youngstown, OH (02/26/13) – Cortland Banks is teaming up with Second Harvest Food Bank in the month of March to help generate donations of food and funds for those in our Valley who need it most. Throughout the month of March, Cortland Banks’ Mahoning and Trumbull county branches will make a donation for every checking account* opened by a new deposit customer or referred by an existing customer.
February 01, 2013
Cortland Bancorp Declares Dividend
CORTLAND (2/1/13) - CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today announced that its Board of Directors has approved a cash dividend of $.03 per share payable on or after February 28, 2013 to shareholders of record as of the close of business on February 14, 2013.
January 31, 2013
Cortland Bancorp Reports Net Income of $4.18 Million
CORTLAND (1/31/13) - CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $4.18 million, or $.92 per share, for the year ending December 31, 2012, versus $4.07 million for the same period a year ago, or $.90 per share.
January 18, 2013
Business Outlook: Cortland Banks expands business lines; continues to grow loan portfolio
CORTLAND (1/18/13) - Cortland Banks takes great pride in its more than 120-year history as a community bank. Recently rated 5-Stars by BauerFinancial Inc., Cortland Banks continues to strive to provide its customers with the highest quality of integrated financial services.  Through strategic initiatives, the Bank has grown its loan portfolio in each of the last three years, with 2012 resulting in an overall composite growth rate exceeding 10%. 
December 21, 2012
Cortland Bancorp Welcomes New Member to Board of Directors: Anthony Vross
CORTLAND - Cortland Bancorp the holding company for the Cortland Savings and Banking Company (the “Bank”), announced today that the Company’s Board of Directors approved the appointment of Anthony Vross as a member of the Board of Directors of the Company and Bank. The appointment is effective January 1, 2013.
November 21, 2012
Cortland Bancorp Amends Dividend Reinvestment Plan
Cortland, Ohio (11/21/12) – The Board of Directors of Cortland Bancorp [OTC Market: CLDB] (the "Company") has amended and restated the Cortland Bancorp Dividend Reinvestment Plan effective November 21, 2012 and will permit investments to be made under the Plan commencing in February 2013.
November 02, 2012
American Red Cross Disaster Relief Donations Accepted at all 13 Cortland Banks locations
CORTLAND (11/2/12) – What is now being called “the largest Red Cross response in the last five years,” the wake of Hurricane Sandy has crumbled and rearranged much of the East Coast, leaving its residents in darkness. This disaster is “expected to exceed the financial devastation of Katrina, reaching the billion-dollar mark,” said Karen Conklin, Executive Director and CEO of the Mahoning Valley American Red Cross.
October 31, 2012
Cortland Bancorp Earnings Increase in 3Q, Declares Dividend
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $1.3 million, or $.28 per share, for the third quarter of 2012, versus $1.1 million for the third quarter of 2011, or $.24 per share.  Likewise, net income for the nine months ended September 30, 2012 was $3.4 million versus $3.2 million for the same period in 2011, or $.75 per share and $.72 per share, respectively.
October 25, 2012
Cortland Bancorp Declares Dividend
CORTLAND – (10/25/12) CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today announced that its Board of Directors has approved the reinstatement of a cash dividend of $.03 per share payable on or after November 26, 2012 to shareholders of record as of the close of business on November 5, 2012. 

October 24, 2012
Cortland Banks to hold job fair Nov.3 in Niles
NILES – (10/24/12) Cortland Banks is growing and is currently looking for qualified candidates to fill the newly created position of Assistant Community Banking Manager.
October 17, 2012
Cortland Banks Awards OH WOW! Museum $1500, Fourth-grade field trip planned for October 18
Event to be held at OH WOW! on Thursday, October 18 from 10 a.m. to 2 p.m, with financial literacy for the students starting at 11:30 a.m.
September 26, 2012
Bank grows staff, adds 4 new team members
Chief Executive Officer James Gasior and Executive Vice President Tim Carney, along with the Board of Directors, are proud to announce Cortland Banks’ newest team members.
July 31, 2012
Cortland Bancorp Reports Solid Second Quarter 2012 Earnings
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $952,000, or $.21 per share, for the second quarter of 2012, versus $1.3 million for the second quarter of 2011, or $.29 per share.  Excluding net gains on securities transactions net of tax of $18,000 in the second quarter of 2012, and $461,000 in the second quarter of 2011(earnings from normal operations) income of $934,000 was recorded in the second quarter of 2012 and $860,000 in the same quarter of 2011.  This represented a $74,000 improvement in quarterly earnings from normal operations.
June 12, 2012
Cortland Banks Awards OH WOW! Museum $1500
CORTLAND (6/12/12) – As a local community bank, Cortland Banks strives to enhance the communities in which it serves.  Sara Smith, Marketing & Communications Director, said "A grant funded through Cortland Banks helps entire classrooms of students visit OH WOW!, helping our youth to develop learning skills and knowledge in a world-class facility, right in our own backyard!"  In addition to the cost of transportation, admission to OH WOW!, and lunch, volunteers from Cortland Banks delivered a financial literacy program to participating students.  This financial literacy program will help students become stronger savers and enable them to have a better tomorrow.
April 27, 2012
Cortland Bancorp Reports a 33% Increase in Net Income, 1Q 2012 Earnings Release Issued
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $1.16 million, or $.26 per share, for the first quarter of 2012, representing a 33% increase over the $.87 million, or $.19 per share reported for the same period in 2011. The improvement in earnings performance is highlighted by a 16% year over year growth rate in the commercial loan portfolio and a composite loan portfolio growth rate of 8%.
April 23, 2012
SCAM ALERT: Be advised of spoof text messages, automated calls requesting private information
“In this scam, a victim receives a text message and/or an automated phone call from an unrecognized number, claiming to be a bank. These messages are sent to the masses, which reach customers and non-customers. The scam artist uses the first four digits of a bank’s ATM/Debit Card in order to gain acceptance and recognition from the recipient,” said Charles J. Commons, Vice President and Director of Security at Cortland Banks.
March 06, 2012
New Mortgage Company Begins Production; Grants Available Through Welcome Home Program
CORTLAND – The Cortland Savings and Banking Company ( The “Bank” )is pleased to announce the opening of the CSB Mortgage Company, Inc., as of March 1, 2012. The CSB Mortgage Company, Inc., was created as a subsidiary of the Bank to assist the Bank with income diversification through noninterest revenue. This new wholesale lending division will partner with mortgage brokers in contiguous states to originate mortgage loans. These loans will be sold to investors in the secondary market, generating a profit margin. With historic mortgage rates predicted to remain low, robust activity is expected.
February 29, 2012
Take a Leap: Ways to help your community with Cortland Banks
If you are looking to get involved with community projects, look to Cortland Banks as your local community partner.
February 29, 2012
Working Together, Works. Cortland Banks joins Harvest for Hunger to benefit Second Harvest Food Bank
Youngstown, OH (02/29/12) – Cortland Banks is teaming up with Second Harvest Food Bank in the month of March to help generate donations of food and funds for those in our Valley who need it most. During the month of March, Cortland Banks’ Mahoning and Trumbull county branches will make a donation for every checking account* opened by a new deposit customer or referred by an existing customer. (See full story for details.)
January 31, 2012
Cortland Bancorp Reports 4Q & Full Year 2011 Earnings
CORTLAND BANCORP (the “Company,” OTCQB: CLDB) today reported net income of $4.1 million, or $.90 per share, for the year ending December 31, 2011, representing a 24% increase over the $3.3 million, or $.72 per share reported for the same period in 2010.
January 27, 2012
Business Outlook 2012: Cortland Banks announces new mortgage business subsidiary, Investor Relations initiative
Although 2011 year-end earnings results were not available for this report, Cortland Bancorp President and CEO James Gasior notes that the Management Team for the Company and for the banking subsidiary, Cortland Banks, has executed its business strategies according to plan and is in line to meet many of its financial and operational objectives.
October 31, 2011
Cortland Bancorp Reports Net Income of $1.05 Million for 3Q 2011
CORTLAND BANCORP ( the “Company,” OTCQB: CLDB) today reported net income of $1.05 million for the quarter ending September 30, 2011, representing over $1 million improvement from net income reported for the same period in 2010.







Excluding non-recurring items such as impairment losses and securities gains, the $1.05 million net income was an increase of 6.8% over the $983,000 comparable number for the quarter in 2010.







Net income for the nine months to date was $3.24 million or $.72 per share in 2011 versus $2.24 million or $.49 per share for 2010, a 44.6% increase.















October 19, 2011
Cortland Banks To Team Up with Junior Achievement to Teach Do's, Don'ts of Credit
On October 20, Cortland Banks, along with other local Banks, Credit Unions and local businesses, will be participating in Junior Achievement’s “Your Credit Your Future” program. This year Cortland Banks will be presenting its lessons on the do’s and don’ts of credit at Austintown Fitch High School and Lowellville High School. In all through Junior Achievement’s Program more than 600 high school students in Mahoning, Trumbull, and Columbiana Counties will be learning about financial literacy on October 20, 2011.
July 28, 2011
Cortland Bancorp Reports Second Quarter 2011 Earnings

CORTLAND BANCORP ( the "Company," OTCQB: CLDB) today reported core earnings of $2.1 million for the six months ending June 30, 2011, representing a $40 thousand improvement from core earnings reported for the same period in 2010.

April 28, 2011
Cortland Bancorp Reports First Quarter 2011 Earnings
CORTLAND BANCORP ( the “Company,” OTCBB:  CLDB) today reported core earnings of $1.0 million for the first quarter of 2011, representing a $49 thousand improvement from core earnings reported for the same quarter of 2010.  Net income which includes non-recurring items such as impairment losses and reductions in retirement expense, such as those recorded in 2010 as a result of a restructuring of the Company’s management group, was $869 thousand for the quarter, or $0.19 per share versus $894 thousand for the first quarter of 2010, or $0.20 per share.
April 26, 2011
Cortland Banks Promotes Carrie Stackhouse to Assistant Vice President
CORTLAND, OH- Cortland Banks recently announced the promotion of Carrie Stackhouse to Assistant Vice President. Carrie maintains duel responsibilities as a Commercial Loan Officer and Portfolio Manager in the Bank’s Mahoning County market. She currently works out of the North Lima Community Bank location on Market Street and Western Reserve Road. Carrie has 10 years of banking experience and has been with Cortland Banks since November 2007.
February 25, 2011
Cortland Bancorp Reports Fourth Quarter and Year to Date 2010 Earnings
Cortland Bancorp (the “Company;” OTCBB:  CLDB) announced today it’s fourth
quarter and year end  results for the period ending December 31, 2010.  The Company reported net income of $1.036 million or $0.23 per share for the quarter ending December 31, 2010.  This compares to a net income of $17,000 for the quarter ending September 30, 2010 and net income of $643,000 or $0.14 per share for the same period in 2009.

For the year ending December 31, 2010, the Company reported net income of $3.271 million or $.72 per share, compared to a net loss of $(6.335) million or $(1.40) per share for year ended December 31, 2009.
February 15, 2011
Working Together, Works. Cortland Banks joins Harvest for Hunger. To benefit Second Harvest Food Bank
Cortland Banks is teaming up with Second Harvest Food Bank for the month of March to help generate donations of food and funds to those in our Valley who need it most. During the month of March, Cortland Banks will make a donation for every checking account* opened by a new deposit customer or referred by an existing customer; each new customer who mentions Harvest for Hunger will have a $25.00 donation made out in his/her name for the Second Harvest Food Bank of the Mahoning Valley.
December 20, 2010
Cortland Bancorp retains IST Shareholder Services
Letter issued to Shareholders on December 20, 2010 from President and CEO James Gasior.
November 12, 2010
Cortland Banks Employees teach local students how to manage money, stay out of financial dog house
(Orwell, November 10, 2010) — Half of the fifth grade class at Grand Valley Middle School made big spending, saving and budgeting decisions on November 10, during special lessons taught throughout the day by employees from Cortland Banks, David Kovacs and Dannielle Slaven.

This fun competitive lesson uses a new game called FETCH!™, which stands for Financial Education Teaches Children Healthy Habits™.  FETCH! teaches children to manage money early in life so they will grow into adults who make smart financial decisions.

August 17, 2010
Cortland Banks announces 3 new additions to the Commercial Lending Team
CORTLAND -  Cortland Bancorp the holding company for the Cortland Savings and Banking Company (the “Bank”), along with Chief Executive Officer James Gasior and Executive Vice President Tim Carney, would like to announce the appointment of Nick Berardino, Stanley J. Magielski and Joseph A. Marino,  as new members of the CSBC Commercial Lending Team. The appointments are effective July 13, 20, and August 2, respectively.
August 02, 2010
Cortland Bancorp Reports Profit for Second Quarter 2010
Cortland Bancorp (the "Company;" OTCBB: CLDB) today reported net income of $1.3 million for the second quarter of 2010, or $0.29 per share versus a net loss of $4.6 million in the second quarter of 2009, or ($1.01) per share.
May 24, 2010
Cortland Bancorp Welcomes New Member to Board of Directors: Joseph E. Koch
CORTLAND - Cortland Bancorp the holding company for the Cortland Savings and Banking Company (the "Bank"), announced today that the Company’s Board of Directors approved the appointment of Joseph E. Koch as a member of the Board of Directors of the Company and Bank. The appointment is effective May 18, 2010.
April 27, 2010
Cortland Bancorp Reports First Quarter 2010 Results
Cortland Bancorp (the "Company;" OTCBB: CLDB) today reported net income of $894 thousand for the first quarter of 2010, or $0.20 per share versus a net loss of $1.40 million in the first quarter of 2009, or ($.31) per share.
March 15, 2010
Cortland Bancorp Reports Fourth Quarter and Year to Date 2009 Earnings
Cortland Bancorp (the “Company;” OTCBB:  CLDB) announced today it’s fourth quarter and year to date results for the period ending December 31, 2009.  The Company reported net income of $643,000 or $0.14 per share for the quarter ending December 31, 2009. 
March 12, 2010
Stanley P. Feret Annouced as Chief Lending Officer
CORTLAND -  Cortland Bancorp the holding company for the Cortland Savings and Banking Company (the “Bank”), announced today that the Company’s Board of Directors approved the appointment of Stanley P. Feret as Senior Vice President and Chief Lending Officer of the Company and Bank.  The appointment is effective March 10, 2010.
January 18, 2010
Cortland Bancorp Announces Appointment of David J. Lucido as Chief Financial Officer
CORTLAND -  Cortland Bancorp the holding company for the Cortland Savings and Banking Company (the “Bank”), announced today that the Company’s Board of Directors approved the appointment of David Lucido as Chief Financial Officer of the Company and Bank.  The appointment is effective January 18, 2010.
November 05, 2009
James M. Gasior Appointed President, CEO
The Board of Directors of Cortland Bancorp (the “Company”) and the Cortland Savings and Banking Company (the “Bank”) appointed, effective November 2, 2009, James M. Gasior as President and Chief Executive Officer of the Company and the Bank. Also effective November 2, 2009, the Board of Directors appointed Timothy Carney as Director and Executive Vice President of the Company and the Bank.
October 13, 2009
Cortland Banks Welcomes Nicole Whitsel
Cortland Banks announces the hiring of Nicole Whitsel as Risk Manager.
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