Business in the Burbs

Ex-Union State manager to lead Community Bank

August

Eric J. Wiggins, a senior manager at the former Union State Bank of Orangeburg, has been tapped to run Community Bank of Orange.
Wiggins will take over as president and chief executive officer at the bank effective Aug. 25. Last month an investment group that included former members of Union Stateâ€™s board of directors said they would take an equity stake in Community Bank. The bank has lost money since its inception in 2002; its stock is traded over the counter.
Wiggins has 20 years in banking in the Hudson Valley. He had been senior vice president of commercial lending at Union State before it was bought at the start of this year by KeyCorp, where he continued as a senior vice president.
He will succeed Anthony Ingrassia as CEO. Suffern builder Kenneth Torsoe, a former Union State director whoâ€™s investing in Community Bank, will take over as the bankâ€™s chairman after the investment deal, the bank said last month.
The bank, based in Middletown, plans to open a branch in Bardonia.

This entry was posted on Tuesday, August 12th, 2008 at 4:31 pm by Jerry Gleeson.
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