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Legacy Completes Purchase of 1st Niagra Branches - December 10, 2007
PITTSFIELD - Legacy Bancorp Inc., the holding company for Legacy Banks, completed its acquisition of the five full-service branch offices of First Niagara Bank in the eastern New York communities of Windham, Middleburgh, Oak Hill (East Durham), Greenville and Whitehall on Dece. 7.
The bank purchased the branches for about $1.4 million and assumed deposit liabilities totaling approximately $77 million. All the employees of the branch offices remained in their jobs.
"We are thrilled to welcome our new employees and customers to the Legacy family," said J. Williar Dunlaevy, chairman and chief executive officer. "We are grateful to everyone at First Niagara and Legacy for their tireless work and the professional manner in which they executed this acquisition."
"Over the past four months, we have had the privilege of getting to know the branch office personnel who will continue to serve the financial needs of our customers in these communities and know that they will continue Legacy's strong traditions of community focus and premier customer service," he continued.
"We look forward to expanding our presence and relationships in New York markets and to offering innovation and convenience to our customers in banking products, services and solutions," Dunlaevy said.
Legacy Banks is headquartered in Pittsfield. It employs 196 people and has 16 offices throughout Berkshire County and eastern New York, as well as a loan production office in Colonie, N.Y. Legacy offers personal banking, mortgage lending, commercial services, insurance, investments, portfolio management, credit and debit card products, and online services. |
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