Rooted in Schoharie County: Steve Palmer’s Hometown Journey from Farming and Baseball to Finance and Banking

Farm to finance, a story of hometown success. Steve Palmer’s story begins in the mountainous countryside of Richmondville and leads him to the boardroom of the Bank of Richmondville. Steve, President & CEO of the Bank of Richmondville, was raised on a dairy farm where he learned the value of hard work early. “Growing up on the family farm, for as early as I can remember, instilled in me a strong work ethic and problem-solving skills,” Steve shares. These lessons shaped his character and laid the foundation for his success in Schoharie County. 

Steve attended Cobleskill Richmondville Central School District, where his love for a good game of ‘ball flourished. He continued his education at Rensselaer Polytechnic Institute (RPI), where he played football and baseball, making his mark as a talented athlete. In 1999, he helped lead RPI’s football team to its first ever undefeated season, and the first RPI football team to earn a spot in the NCAA playoffs. “That season taught me a lot about teamwork and resilience,” he reflects. His remarkable contribution was recently celebrated at Union College, during the ‘Dutchman Shoe’ game, which honored RPI's historic season. This rivalry between Union and RPI is the oldest in New York State college football.  

After college, Steve’s first job brought him to NY Central Mutual in Edmeston, NY, where he worked in insurance. “At the time, I had ambitions of working on Wall Street,” Steve admits. However, the dot-com bubble shifted his plans, and fate intervened through some good old fashion shoptalk at his mother’s hair salon. “Susan Rightmyer, a local legend and Bank of Richmondville board member, got to talking with my mom during an appointment. She thought I’d be a good fit for an opening at the bank and encouraged me to apply,” Steve recalls. 

That encouragement led Steve to apply and ultimately join the bank as a Loan Review Officer. Over the years, he climbed the ranks, serving as CFO, Vice President, and now President & CEO. “I’m so grateful for the opportunities I’ve had here. This job has allowed me to learn every aspect of banking, from customer service to underwriting,” he says. 

Steve reflected on how everything happens for a reason, “I am very fortunate. It’s much more gratifying working in your hometown making a difference for people in your community.”   

When Steve became President & CEO in 2020, the COVID-19 pandemic presented immediate challenges. “It was trial by fire,” he jokes. “But we adapted quickly to ensure we could serve our customers safely. That experience reinforced the importance of balancing modern technology with the personal touch we’re known for.” Steve emphasizes that the bank’s goal is to modernize without losing sight of its community roots. “We want to make banking easier and more secure, but at the end of the day, people need to know they can come in and talk to someone who cares.” 

The Bank of Richmondville is a cornerstone of Schoharie County, with locations in Richmondville, Cobleskill, and Schoharie. “We’re the only bank headquartered in the county, and that’s something we take pride in,” Steve says. 

The bank supports countless local initiatives, from the current Toys4Tots donation location to the drop-off center for the food pantry – in which you will find a staff member volunteering every week – or sponsoring Little League teams and hosting a float in the Richmondville Days Parade. “I’ve been part of the parade since I was a kid walking with my Little League team. Even as a child I remember thinking; I want to make a difference here. Now, leading these initiatives with the bank is such a full-circle moment,” he reflects. 

Steve is especially proud of the bank’s commitment to community engagement. “Our employees are like family, and many have been with us for 20, 30, even 40 years,” he notes. “They’re invested in the community and know our customers personally. That level of connection sets us apart.”  

Outside of work, Steve has grown roots throughout his community.

He serves on the board of Cobleskill’s Regional Hospital, Richmondville’s Lutheran Church Finance Committee and has previously supported Hospice’s board. He’s also active in youth sports, having spent over a decade involved in Little League and still serving as treasurer for a local basketball program. “It’s incredibly rewarding to help,” he says. “Youth sports create memories that last a lifetime and being part of that is special.” 

Family life is a priority for Steve. He and his wife have three children, all of whom are active in travel sports. Two daughters—one a high school senior and the other a sophomore—both play softball and his youngest, a seventh-grade son, plays baseball. “I spend a lot of time at games or traveling for tournaments,” he laughs, “it’s easier now that Luke gets to hitch a ride from his older sister to and from practice.” This summer, Steve and his family piled into the car and headed to Tennessee, using a softball tournament as the perfect excuse for a much-needed getaway stopping at the Louisville Slugger Museum & Factory on the way—a classic family road trip. 

Looking to the future, Steve envisions the bank continuing to serve as a pillar of the community. “We want people to know there are options for homeownership, loans, and financing right here in Schoharie County,” he says. The bank remains committed to offering unique resources, such as free banking for those 60+ years young, passbook and vacation savings accounts and Christmas savings books. A new website is in the works set to launch in the first quarter of 2025, aimed at enhancing customer experience.  

Rooted in Schoharie County, Steve embodies the values of hard work, humility, and dedication.

From his childhood days on the dairy farm in Richmondville to balancing being a family man and President & CEO of the Bank of Richmondville, his journey is a testament to the power of staying connected to your roots while embracing the yearn to learn. 

“Go all out or don’t go out at all,” Bank of Richmondville President & CEO, Steve Palmer. 

ROOTED

Interviewed and Authored by SEEC Associates, November 2024
Photos taken by Roslyn Rose Photography

RESOURCE BIN

Human
Steve Palmer, President & CEO

Branch Manager / Security Officer, Cobleskill: April Sperbeck
Branch Manager / Loan Officer, Richmondville: Angela Handy
Branch Manager / Loan Officer, Schoharie: Melissa A. Yung
Senior Loan Officer / Assistant VP: Michelle Davis

Physical
Bank of Richmondville, Cobleskill Office: 857 East Main Street, PO Box 40, Cobleskill, NY 12043, (518) 234-4397
Bank of Richmondville, Richmondville Office: 284 Main Street, PO Box 130, Richmondville, NY 12149, (518) 294-6661
Bank of Richmondville, Schoharie Office: 428 Main Street, PO Box 488, Schoharie, NY 12157, (518) 295-8884

Lobby Hours: Monday – Thursday, 9:00 a.m. to 4:00 p.m., Friday, 9:00 a.m. to 6:00 p.m.
Drive Thru Hours: Monday – Thursday, 8:15 a.m. to 4:00 p.m., Friday, 8:15 a.m. to 6:00 p.m., Saturday, 8:30 a.m. to 11:30 a.m.
Loan Department Hours: Monday – Thursday, 9:00 a.m. to 4:30 p.m., Friday, 9:00 a.m. to 6:00 p.m.

Financial
Your bank. Your neighbors. Hometown banking offering a world of possibilities.
Streamline your life with online banking for personal and business accounts, Smart Bill Payer, and low rates on mortgages and loans.

Intellectual/Industry
Mortgage Calculator: Use this mortgage calculator to find loan payment.
Simple Savings Calculator: Determine how much savings from a deposit.

The Bank of Richmondville was established in 1881 by the honorable Judge John Westover and James Foster as a privately owned bank. The bank's initial facility was located at Main and Summit Streets in Richmondville, New York. Read more about the history.

Digital
Website
Email Steve
Customer Service (518) 234-4397 ext. 0 or customerservice@bankrich.com
Loan Dept. (518) 234-4397 ext. 1237 or Loans@bankrich.com

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