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Five Star to add acquired branches in June

Rochester Business Journal
June 12, 2012

Five Star Bank has settled on eight locations for its acquisition of First Niagara Bank N.A. and HSBC Bank USA N.A. branches, including four in the Rochester market, a filing with the state Department of Financial Services shows.

The bank subsidiary of Financial Institutions Inc. in Warsaw, Wyoming County, on June 25 will open branches at 327 Main St. in Medina, 401 W. Main St. in Batavia and 2 West Ave. in Brockport, a filing on Friday states.

Their conversion from First Niagara will come after the deal closes following the close of business June 22, Five Star officials said Monday.

Five Star also will unveil a converted First Niagara branch on June 25 at 1959 Route 20 in Waterloo, Seneca County. It will be consolidated with an existing Five Star branch across the street, officials said.

Five Star is scheduled to convert four HSBC branches in the third quarter, including at 102 N. Main St. in Albion. The others, pending regulatory approval, are in Chemung County in Elmira, Horseheads and Elmira Heights.

The acquisitions have been approved by the Federal Reserve Bank of New York.

“This is an exciting time for Five Star Bank,” President and CEO Peter Humphrey said in a statement. “The approval by the Fed clears the way for Five Star Bank to officially welcome more than 12,000 new customers to our unique and proven style of community banking.”


(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


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