The newest bank in downtown Buffalo, BankOnBuffalo, celebrated the grand opening of its location at the Electric Tower today as the beginning of a full-service banking venture for area small and mid-sized businesses.
The grand opening offered a preview of BankOnBuffalo’s services. It currently has a loan production office accessible via telephone and the Internet and will have full business operations underway at the Electric Tower office on December 1.
A large group of business owners and government representatives attended the grand opening ceremony, which featured comments by Martin T. Griffith, BankOnBuffalo president, and Joseph B. Bower Jr., president and CEO of CNB Bank. BankOnBuffalo is a division of CNB Bank.
“We are very excited to establish BankOnBuffalo as an attractive choice for Buffalo-area businesses to easily access timely financial services that can positively affect their bottom line,” Mr. Bower said. “We are proud to bring CNB Bank’s 150 years of solid banking experience to the Western New York community.”
BankOnBuffalo is bringing a decentralized, personal approach that accelerates critical financing decisions and funding for small and mid-sized businesses with up to $100 million in revenues.
Services to be provided include commercial lending, cash management and all other business financial needs – such as remote deposit, mobile banking, credit cards, ACH and wire services. Private banking and wealth management services will also be offered.
“It is so exciting to launch a new bank – one that is aggressive, resourceful and helpful and that matches the entrepreneurial spirit of a progressive and resurgent city,” Mr. Griffith said. “People will also find we are a throwback to what better banking should be – personal, attentive and quick to make positive financing decisions.”
As president, Mr. Griffith’s direct involvement in customer assistance will help speed up financing application decisions so companies can fund their business needs quicker.
“Our goal is to be the friendliest business bank in the area,” Mr. Griffith said. “It is the right place and the right time for us to enter the Buffalo market.”
In addition to its office at the Electric Tower, BankOnBuffalo recently filed applications with the regulatory agencies to establish full service branches in Williamsville and Orchard Park. Once approved, expectations are to hire 30 to 40 people over the next six to nine months.
As a community bank, BankOnBuffalo, a division of CNB Bank, is being developed by local people and businesses. This local decision-making will increase the level of service provided to the communities of Buffalo and bring growth to the entire region.
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