The final conversions involving five banks in the Rochester market was completed this week with the opening of two Community Bank N.A. branches in Ontario County.
The DeWitt, Onondaga County-based bank acquired the First Niagara Bank N.A. branch at 659 S. Main St. in Canandaigua on Friday, along with branches at 470 Exchange Street and 5 Seneca St. in Geneva. The Exchange Street branch closed Friday and was consolidated into the Seneca Street branch.
The acquired branches add $100 million in deposits and $55 million in loans to the Community Bank System Inc. portfolio, company officials said. The bank has $7.5 billion in assets and 190 offices, they said.
“We are delighted to welcome 20 new employees and 7,000 new customers to Community Bank,” CEO Mark Tryniski said in a statement released Monday.
The bank acquired 16 HSBC Bank USA N.A. branches, four in the local market, in July.
The weekend transactions culminated First Niagara’s acquisition of 195 HSBC branches in Upstate New York and southern Connecticut.
In addition to Community Bank, First Niagara divested branches to KeyBank N.A. and Five Star Bank.
(c) 2012 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.
eMail
View All Comments
Print
Reprints
