News
October 8, 2025Pioneer Announces Appointment of Thomas Ratsep as Executive Vice President & Chief Credit Officer
Pioneer (NASDAQ: PBFS), a leading financial institution in New York’s Capital Region, today announced the appointment of Thomas Ratsep as Executive Vice President and Chief Credit Officer. Mr. Ratsep will oversee all aspects of commercial credit, ensuring the quality of Pioneer’s lending portfolio.
Ratsep will officially join Pioneer on October 20, 2025, bringing more than 30 years of banking experience, including senior leadership roles in credit administration and commercial lending at Ballston Spa National Bank (BSNB), Arrow Financial Corporation, and Adirondack Trust Company.
“Tom’s extensive expertise in building strong credit cultures and managing credit risk aligns perfectly with Pioneer’s strategic direction,” said Pioneer President and CEO Tom Amell. “We are excited to welcome him to our executive team and are confident that his leadership will help us build on our strong foundation.”
Ratsep added, “I’m thrilled to work with such a talented team and build on the strong foundation Jim cultivated. I appreciate Pioneer’s customer-first approach and plan to apply my experience in lending and knowledge of the Capital Region’s markets to support our customers.”
Jim Murphy, Pioneer’s current Executive Vice President & Chief Credit Officer, will retire at the end of 2025 after a distinguished tenure shaping the company’s credit culture and positioning it for growth. He will remain with Pioneer through June 30, 2026, serving as an advisor to support a smooth transition and provide guidance to Ratsep and the Commercial team.
“Jim’s strategic vision, discipline, and commitment to excellence have left a lasting imprint on our organization,” said Amell. “His leadership elevated our credit operations and commercial lending practices, and we are deeply grateful for his many contributions. We wish him all the best in his next chapter.”
