Gouverneur Bancorp, Inc. Announces the Appointment of Charles Van Vleet as President and Chief Executive Officer

NEW YORK, Feb. 9 /PRNewswire-FirstCall/ -- Gouverneur Bancorp, Inc. (OTC Bulletin Board: GOVB) (the "Company") and its subsidiary, Gouverneur Savings and Loan Association (the "Bank"), today announced the election of Charles C. Van Vleet as President and Chief Executive Officer.  Mr. Van Vleet succeeds retiring President and CEO Richard F. Bennett, a twenty-four year veteran of the Company.  Mr. Van Vleet was also elected to a one-year term as a member of the Board of Directors at the Annual Meeting of the Stockholders, held February 8, 2010.

Mr. Van Vleet brings over twenty years experience to the position. He joined the Company as an Assistant Vice President in 1996 and in 2001 was named a Vice President with the Bank and the Company.  In August 2005 he was named Senior Vice President, and has been Executive Vice President and Chief Operating Officer for the Bank since July 2009.  Mr. Van Vleet has also served as Secretary to the Bank and Company since 1999.  Previously, Mr. Van Vleet held the position of Assistant Vice President with First National Bank of Northern New York.

In making the announcement, retiring President and Chief Executive Officer Richard F. Bennett stated, "As our industry continues to face the challenges of a difficult economic environment, I am pleased to turn over the helm to such an accomplished colleague.  Chuck's experience and hands-on management style is based on the quality, service, and trust on which the Bank has built its reputation.  He will continue to serve the community well."  

Mr. Bennett, who announced his retirement at the June 2009 meeting of the Board of Directors, was appointed Vice Chairman of the Board at the February 8, 2010 annual meeting. He will continue to serve in an executive capacity until June 1, 2010. After June he will continue to work on special projects and provide consulting services to the company.

About the Company

The Company, which is headquartered in Gouverneur, New York, is the holding company for Gouverneur Savings and Loan Association. Founded in 1892, the Bank is a federally chartered savings and loan association offering a variety of banking products and services to individuals and businesses in its primary market area in southern St. Lawrence and northern Lewis and Jefferson Counties in New York State.

Forward-Looking Statements

This news release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.  These statements are based on the beliefs and expectations of management as well as the assumptions made using information currently available to management.  They often include words like "believe," "expect," "anticipate," "estimate," and "intend" or future or conditional verbs such as "will," "would," "should," "could" or "may."  Since these statements reflect the views of management concerning future events, these statements involve risks, uncertainties and assumptions.  Therefore, actual future results may differ significantly from results discussed in the forward-looking statements.

SOURCE Gouverneur Bancorp, Inc.



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