New NBT Bank CEO Scott Kingsley, left, and new bank President Joe Stagliano pose for a photo at NBT's Norwich, NY headquarters on May 15, 2024. Photo by Nancy L. Ford | Courtesy of NBT Bank

New York State-based NBT Bank has formally completed its CEO transition, with Scott A. Kingsley succeeding John H. Watt Jr.

The succession plan was announced earlier this year.

Watt had led the $13.22 billion-asset NBT as CEO since December 2016, and joined the bank in 2014 to lead the bank’s expansion into Maine. Watt will continue to be a member of NBT’s board as vice chairman.

Kingsley was hired to NBT in 2021 as chief financial officer. Before that, he was COO and CFO at Community Bank System Inc., the holding company for $15.6 billion-asset, DeWitt, New York-based Community Bank. He was also elected to the holding company’s board.

At the same time it elevated Kingsley, NBT also promoted Joseph Stagliano to NBT’s president, while Annette Burns was promoted to executive vice president and CFO while Shauna Hyle was promoted to executive vice president of retail community banking. Stagliano was previously NBT’s chief information officer and an executive vice president. Burns was previously chief accounting officer. Hyle was previously head of NBT’s consumer lending business.

NBT has six branches in Connecticut, four in Litchfield County plus one each in West Hartford and Glastonbury, following its acquisition of Salisbury Bank last year. The bank had $47.18 million in deposits in Connecticut last June, according to the most recent FDIC data, and Salisbury Bank had $680.17 million. Combined, their share of the deposit market in the area would have been 0.43 percent.