Community News

NYLIB Appoints EVP Michael Serao

The New York League of Independent Bankers (NYLIB) today announced that Michael Serao, Executive Vice President, and Chief Administrative Officer of First Central Savings Bank (FCSB), has been appointed to its Advisory Board.

“Michael’s experience in banking will be a great asset to our organization as we work toward achieving our mission to promote community banking in New York,” said Edward T. Lutz, president of the NYLIB. “We are pleased to welcome Michael as an Advisory Board member and look forward to collaborating with him on our team of senior bankers.”

Serao has been with FCSB since 2017, where he oversees various areas of the bank including retail banking, marketing, IT back-end operations, card services, online banking, and government relations. In addition, he serves as the bank’s CRA Officer.

As part of his new role with NYLIB, Serao will collaborate with other members to identify industry trends and create solutions that positively impact community banking. He joins a group of dedicated bank executives who are committed to promoting growth in the independent banking industry while ensuring their banks thrive in an ever-evolving financial landscape.

Joseph Pistilli, FCSB Chairman and founding Chairman of NYLIB, reflected on this moment within the historical principles of NYLIB and was thrilled about Serao’s appointment to help carry the torch into the future: “For a number of years, I and a group of affiliates always spoke about organizing a grassroots organization to help community banks with their challenges and regulatory issues as well as to share and grow from their unique experiences, I was honored to be chosen as that organization’s first Chairman alongside many better nominees than me. The organization had a mission and purpose back then and it continues today: It was to instill the deep roots of community banking, ‘I know you and I can help’. The NYLIB stands proud and strong as leadership continues moving forward from their first chairman and president to a fine intellectual, a bright and free-thinking leader such as our President today, Mr. Edward Lutz. Mr. Lutz is advancing the same grassroots goals and foresight we had back then, only better. That’s why today it is with great pleasure and honor to congratulate EVP Michael Serao of First Central Savings Bank as one of the newest members of the NYLIB leadership team.”

Serao’s dedication to serving the future of community banking is reflected in his life-long commitment to volunteerism. He has a lifetime of experience serving on various nonprofit boards and was recently appointed to the Advisory Board of Life’s WORC whose mission is to support people with intellectual disabilities and autism. In 2013, Serao was appointed as a member of the Congressional Community Banking Roundtable led by then-Congresswoman Carolyn Maloney who served as a senior member of the Congressional Financial Services Committee and Chairwoman of the House Oversight Committee.

“I’m very excited to be selected as the new board member of the New York League of Independent Bankers,” said Serao. “As we continue to strengthen our industry, increase market share. and create opportunities for the future, I look forward to working with the New York League of Independent Bankers as we tackle some of the most pressing issues facing our industry today.”

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