Guess its time to get used to a new bank...Looks like HSBC (formerly Marine Midland) is indeed being sold....Fellow Buffalo-based First Niagara Bank is buying HSBC's upstate NY branches for a reported billion dollars.
Its unclear from the story what their plans are, but it sounds like they plan to keep most branches operating. There are seven HSBC branches in Jefferson County including three in the City of Watertown.
Meanwhile in a move likely related to the expected sale, locally owned Watertown Savings Bank has launched an ad campaign aimed at getting customers to switch. The Internet ads feature access to forms needed to transfer accounts, and touts how easy the process is.
As for First Niagara, the takeover isn't expected until early 2012.
HSBC sheds U.S. branches in $1 billion First Niagara pact Reuters
8 comments:
Does this include the Lowville HSBC branch?
Will they offer A better investment vehicle than a CD for an IRA?
As mayor, what are you doing about this ?
"As mayor, what are you doing about this ?"
Yea! What are you doing about this Graham!
I don't understand why a guy like you would be a customer of a Chi-com bank and brag about it to boot on the hotline.
When they hired a city manager, did they parade the candidates in front of the HSBC bigwigs? Knowwwwwwwww...they took the candidates to Watertown savings Bank shadow government for the blessing.
That is where a local politician should be doing his banking.
Just so you know local governments would like to do there banking with local banks but are NOT ALLOWED to by NY state law. Local governments have been trying to change that but your senate and assembley will not make the changes needed to allow it to happen. So if you would like to help call Jim( oh sorry i meant Patty) Addie and Ken. They are the ones not helping.
In other news ... HSBC will shed 30,000 jobs between now & 2013 ... after posting a first-half pre-tax profit of $11.5 billions.
Just wait till they pull out. There will be a nice 33 floor white elephant standing empty in downtown Buffalo.
10:13 it is a very good idea that local government cannot do business with local banks. Ever hear of Jeff National?
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