Seneca Falls-based Generations Bank plans to open a branch in Farmington, the western-most in its footprint, officials announced Tuesday.
The bank, formerly Seneca Falls Savings Bank, has purchased land on Route 96 near Route 332, next to the McDonald’s restaurant and across Route 96 from Wade’s Market Center.
The 3.9 acres include land that can potentially be used by another business, bank representatives said. The bank will work with developers interested in helping to maximize the property, representatives said.
Ground is scheduled to be broken in the spring 2013. The branch is scheduled to open next fall.
The bank has Ontario County branches in Geneva and Phelps, and seven other branches in Seneca and Cayuga counties.
“As a company, our growth strategy is rooted in being smart about where and when we expand,” President and CEO Menzo Case said in a statement. “We don’t believe in expansion just for the sake of expansion.
“The Victor-Farmington area has experienced significant residential and commercial growth in recent years, and that growth is expected to continue. This equals a great opportunity for Generations Bank to build new relationships with customers in this community, and to provide existing customers with an additional, convenient location.”
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