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Five Star Bank Appoints New Executive Vice President, CFO

Karl Krebs will be responsible for accounting, internal controls, financial reporting, corporate tax planning and preparation

Five Star Bank, a wholly owned subsidiary of New York-based Financial Institutions, has appointed Karl Krebs as executive vice president and chief financial officer. His appointment is effective from October 1, 2009.

As CFO, Mr. Krebs will be responsible for accounting, internal controls, financial reporting, corporate tax planning and preparation. He will be succeeding Ronald Miller as CFO as part of the company’s management succession plan. Mr. Miller will be retiring in early 2010. However, Mr. Miller will continue on as the corporate secretary during the transition period.

Mr. Krebs returns to Five Star Bank after previously working for West Valley Environmental Services, where he served as a senior financial specialist.

Peter Humprey, president and CEO, Five Star Bank, said: “Mr. Karl previously served as the senior financial officer of our largest subsidiary up to our consolidation. Together with his 25 years of diverse financial experience, he will be an excellent fit for our organization.”