BankOnBuffalo celebrated the opening today of its new regional headquarters in downtown Buffalo as a major commitment to the city and Western New York and as a tangible sign of its confidence in the future vitality of the local economy.
The regional headquarters is located on the renovated, historic seventh floor of the landmark Electric Tower. The space served in the past as the local office operations of the former Niagara Mohawk Power Corp.
“It is truly a great day for BankOnBuffalo, for the City of Buffalo and for the city’s business heritage that we are able to renovate this historic space in the Electric Tower and call it our home base in Buffalo,” said Martin T. Griffith, BankOnBuffalo president.
“We are extremely pleased with the business community and customer support we have received in just over two years – support that has driven our commitment to the regional headquarters commitment and also to provide more employment and financial service opportunities for our friends and neighbors here,” he said.
For BankOnBuffalo, the seventh floor headquarters will feature executive offices, a boardroom, commercial lender and retail banking offices, private banking and wealth management offices and support staff locations. BankOnBuffalo will continue to operate its full-service branch on the first floor of the Electric Tower.
Approximately 15,000 square feet of space was renovated and painstakingly restored, much of it to when the electrical utility used it for local office operations.
BankOnBuffalo began as a start-up division of CNB Bank with a loan origination office and in February 2017 opened its full-service bank branch on the first floor of the Electric Tower. Since then, BankOnBuffalo has opened full-service branches in Orchard Park, Williamsville and Wheatfield in Niagara County, and offers new private banking and wealth management service called BankOnBuffalo Investment Advisors. Plans are underway to add branches in 2019 in Niagara Falls and the Town of Amherst.
BankOnBuffalo topped the $300 million mark in total deposits last November and was cited recently for contributing 63 percent of new deposit growth and 49 percent of total loan growth in 2018 for its parent company, CNB Financial Corp.
“The launch and continued success of BankOnBuffalo has been a very positive venture for CNB and we thank all the local executives, employees, customers and the entire business community for their support of our way to do banking,” said Joseph B. Bower, Jr., CNB Financial Corp. president and CEO. “We look forward to even more success in serving the market from our new regional headquarters in downtown Buffalo.”
As a community bank, BankOnBuffalo, a division of CNB Bank, is being developed by local people and businesses. This local decision-making increases the level of service provided to the communities in and around Buffalo and brings growth to the entire region.