Community Bank and Elmira Savings Bank to merge
DEWITT / ELMIRA – Community Bank, NA and Elmira Savings Bank announced their merger in the first quarter of 2022, pending customary regulatory and shareholder approval. The merger will expand Community Bank’s presence by adding branches in the central New York and southern areas.
As a full-service financial institution, Community Bank will offer expanded product offerings to Elmira Savings Bank customers, including no-closing cost mortgages, worry-free verifications, free online and mobile banking, and a full range of investment and financial services.
“We are delighted to welcome the customers and employees of Elmira Savings Bank to our Community Bank family,” said Mark E. Tryniski, President and CEO of Community Bank. “Elmira Savings Bank has a strong history of quality, local service and dedication to its customers and communities, which fits the same philosophy as Community Bank. This shared philosophy and commitment to customer-centric community banking has been instrumental in our success.
Elmira Savings Bank President and CEO Thomas M. Carr added: “By combining these two great organizations, we will be able to offer customers a larger branch network and an increased level of service. , including robust digital and mobile banking offerings. Bank, NA has an unwavering commitment to its customers and is a high performing institution, as evidenced by Forbes, 7th in the Nation ranking for its financial performance. “
Community Bank System, Inc. operates more than 215 client locations in upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its banking subsidiary, Community Bank, NA With assets of more than $ 14.8 billion, the DeWitt, New York-based company is among the 125 largest banking institutions in the country.
Elmira Savings Bank reported total assets at the end of June of approximately $ 648.7 million. The bank has 12 branches in the Finger Lakes area of New York.