First Niagara buys 195 HSBC branches

BUFFALO, N.Y. (WIVB) - There was a press conference Monday morning at First Niagara Bank, announcing the sale of HSBC’s western New York branches to First Niagara.

First Niagara is very excited about the purchase, it includes 195 retail bank branches from HSBC in New York and Connecticut. First Niagara also says that they plan to keep most of the 1,900 employees that currently work for HSBC.

First Niagara says every region involved will benefit from with the purchase.

First Niagara President, CEO John Koelmel said, “It clearly accelerates our growth strategy, as well as deepens our presence and profile across the upstate footprint and further solidifies our position as a real banking and corporate leader across this region.”

If you bank with HSBC, First Niagara says all customers will be absorbed with the purchase. They say the transition will be smooth for all those involved.