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Fed OKs Five Star acquisition of 4 HSBC branches

Rochester Business Journal
July 31, 2012

Five Star Bank’s application to buy four former HSBC Bank USA N.A. branches next month has been approved by the Federal Reserve Board of Governors, officials said Tuesday.

A subsidiary of Financial Institutions Inc. in Warsaw, Wyoming County, the bank will close Aug. 17 on the purchase of an HSBC branch in Albion and three in Steuben County.

The four branches will open Aug. 20 as Five Star Bank locations.

“Five Star Bank is well-prepared and ready to welcome thousands of new customers to our true and proven style of community banking,” President and CEO Peter Humphrey said in a statement.

The Steuben County branches are in Elmira, Elmira Heights and Horseheads. Three Five Star Bank branches in those locations will be closed, with operations consolidated into the acquired branches.

Five Star bought and converted four First Niagara Bank N.A. branches in Brockport, Batavia, Medina and Waterloo last month.

(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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