New York – June 11, 2014. Delhi Bank Corp. (OTC Markets: DWNX) today announced that on June 11,
2014, the boards of directors of the Company and The Delaware National Bank of Delhi unanimously
approved the appointment of Peter V. Gioffe as the next President of the Company and the Bank,
effective January 1, 2016.
Mr. Gioffe will be replacing the current President, Robert W. Armstrong. Mr.
Armstrong has served as President of the Bank and the Company since January 1, 2005. Mr. Armstrong
will remain as the CEO of the Company and the Bank following Mr. Gioffe’s appointment. Peter ‘Pete’
Gioffe began his tenure at The Delaware National Bank of Delhi in 1994. He has held many positions
including Teller, Internal Auditor, VP of Accounting and is presently the Bank’s Controller. Prior to joining
The Delaware National Bank of Delhi, he attended the State University of NY at Delhi and Oneonta
obtaining a SUNY Bachelor’s degree in Business. Pete resides in Delhi and has three children, Trent,
Connor and Brenna.
Mr. Armstrong stated that, “Pete’s 20 years of experience and dedicated service
have prepared him to be extremely capable of managing the operations of the Bank and to work in
tandem with the Board of Directors to lead the Company well into the future. The Board of Directors is
confident and excited about his appointment.” Delhi Bank Corp. is a New York Chartered bank holding
company headquartered in Delhi, New York. As of March 31, 2014, Delhi Bank Corp. had assets of
$289.7 million and stockholders’ equity of $23.1 million