Community Bank System Inc., which plans to acquire seven First Niagara Bank N.A. branches in the Rochester market, on Wednesday reported quarterly net income of $18.8 million, up 16.5 percent from a year ago but a penny less than analyst expectations.
The DeWitt-based bank reported earnings per diluted share of 48 cents.
The bank plans to buy 19 First Niagara branches following the Buffalo-based bank’s acquisition of 195 HSBC Bank USA N.A. branches scheduled to close May 18.
Community Bank ranks 13th in the Rochester market with local deposits of $292.4 million.
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