May 22: Murphy steps down from Fed. Indoor golf. Dog Chateau. Police departments and people of color. Swimming in the Hudson. Empire football.
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WSJ: Murphy steps off Fed
Former Arrow Financial group CEO Thomas Murphy has left his position on the New York Federal Reserve Board, the Wall Street Journal reported last week. This comes two days after Murphy resigned his position at the publicly-traded, parent company to Glens Falls and Saratoga national banks, the story says. He resigned the CEO position as the bank disclosed it had received a letter of noncompliance from NASDAQ for late annual and quarterly reports.
[Editor’s Note: At the Adirondack Regional Chamber of Commerce’s J. Walter Juckett awards ceremony earlier this year, Murphy reported that the bank was on solid financial footing. The awards ceremony came just a day or so after Silicon Valley Bank collapse, and Murphy spoke presumably in an effort to calm the business leaders in attendance. The Glens Falls Chronicle (p.12) has since traded emails with the Penko Ivanov, an EVP in the company, who echoed Murphy’s remarks.]
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