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William Furman Olson(1928 - 2012)

Olson, William Furman

William F. Olson was born August 21, 1928 in Tarrytown, N.Y. to Carl Walter and Rae-Alcha Furman Olson. He attended the Irving School in Tarrytown, graduating in June, 1945. He attended Harvard College, graduating in June, 1948 with honors. He was employed by The County Trust Company from June, 1948 to October, 1951. He entered the United States Coast Guard in October, 1951 and served on active duty until October, 1953 attaining the rank of Lieutenant (JG).He received his Doctor of Laws Degree from Columbia Law School in June, 1956 having also attended the Graduate School of Business at Columbia University. He practiced law in New York City from July, 1956 to April, 1962 when he became associated with the firm of Smith, Ranscht, Pollock and Barnes in White Plains, becoming a partner in 1968.He became a Trustee of The Bank for Savings in Ossining in June, 1965 and became President of The Bank for Savings of Ossining in 1969 and President of its merger partner, Westchester County Savings Bank on May 1, 1971. The bank merged with the Tuckahoe Savings and Loan Association on January 1, 1975, The Peoples Savings Bank of Yonkers, N.Y. on August 1, 1977, Westchester County Savings and Loan Association on September 1, 1979, the Greenburgh Savings Bank and the Peekskill Savings Bank on January 1, 1982, Larchmont Federal Savings and Loan Association on August 9, 1991 and two offices of the Yorkville Federal Savings Association on September 20, 1991. Mr. Olson was Chairman, President and Chief Executive Officer of Peoples Westchester Savings Bank, a bank with assets in excess of $ 1,900,000,000 and deposits of $ 1,600,000,000, until it was acquired by First Fidelity Bancorporation on December 30, 1993 when he became Vice Chairman of First Fidelity Bank, N.A. ( now Wells Fargo). He retired from banking in 1996. Mr. Olson served for ten years as a member of the Banking Board of the State of New York. He has served as President and Director of Phelps Memorial Hospital, Westchester Residential Opportunities, the Mutual Savings Bank Fund, Sleepy Hollow Country Club, the Harvard Club of Westchester, the Westchester Housing Fund and the Westchester Housing Forum. He served as Chairman of the Community Bankers Association of New York State and was a member of many of its committees. He was Chairman of the 1982 Summer Jobs for Disadvantaged Youth Campaign and the recipient of an award from President Reagan. He was Chairman of the Westchester County Association, the Housing Task Force Committee of Westchester 2000 and the Lyndhurst Council. In addition, Mr. Olson served as Director, Officer or Trustee of the following organizations: the Retirement System Group, Inc.; Historic Hudson Valley; the Hackley School; Pace Law School Board of Visitors and The Association for Mentally Ill Children of Westchester (AMIC). He was a member of The Pocantico Society and the Sons of the American Revolution. Mr. Olson has also served on Boards of NATIONAR; the Community Preservation Corporation; the Institutional Securities Corporation; RSI Retirement Trust; Thrift Advisory Board of the Federal Reserve Bank; The Hudson River Museum; the Donald B. Reed Speech Center; Columbia law School Alumni Association; Mercy College; Westchester County Medical Center Board; SPCA; Westchester Community College Foundation; Westchester/Putnam ; Westchester County Historical Society; Hudson River Valley Association; Housing Action Council; Downtown Urban Renewal Advisory; Committee of the Village of Ossining; as a member of the Zoning Board of Appeals and the Planning Board of the Village of Briarcliff Manor; as well as Trustee of the Village and subsequently, Chairman of its non-partisan Peoples' Caucus. Mr. Olson is survived by his loving wife, Nancy, his beloved son, William II and many wonderful family members and friends. A memorial Service will be held in his memory at the Briarcliff Congregational Church on North State Road, Saturday, January 5, 2013, at 2pm. Donations in his memory can be made to Phelps Memorial Hospital Center, 701 N. Broadway, Sleepy Hollow, N.Y. 10591or the SPCA of Briarcliff Manor, 590 N. State Road, Briarcliff Manor, N.Y. 10510.

Waterbury & Kelly

of Briarcliff Manor

914 941 1600


Published in the The Journal News on Dec. 23, 2012
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