New York-based KeyBank is, reportedly, planning to close ten retail bank branches in the Buffalo area in July 2014, with an aim to consolidate the region’s banking industry.
KeyBank Western New York market regional sales executive, Gary Quenneville, said between 18 July and 1 August, KeyBank will close a total of 10 branches in Erie and Niagara counties.
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Of the ten branches, seven are former HSBC branches, which were acquired by KeyBank in July 2012 when HSBC Bank USA announced to retreat from retail banking in upstake New York.
Quenneville said he expects little or no impact on jobs, with most of the 60 or so employees from the affected branches being absorbed into other locations.
The existing accounts from the affected branches will be transferred to nearby KeyBank branches, which will be renovated to accommodate more employees and installed with new drive-up teller and ATM lane.
With the closure of ten branches, KeyBank will have 62 branches in the region including 43 in Erie County and 11 in Niagara County.
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