Created Over 110 Jobs, 11-Branch Network, Invested $11 million+ in Local Economy
BUFFALO, N.Y. – BankOnBuffalo today celebrated the fifth anniversary of opening its first full service branch office at downtown Buffalo’s Electric Tower – spurring five years of unprecedented growth for a newly-created bank that began with a single branch office and a handful of employees to initially serve the Buffalo/Western New York Market.
Bank employees, business associates and corporate executives participated in an anniversary celebration event Monday morning (Feb. 28) in the Electric Tower lobby that mirrored a similar event five years ago launching the bank in Buffalo.
Since then, BankOnBuffalo has gone from zero to almost $1.4 billion in deposits, with the stated goal of becoming a $2 billion bank in the near future. Today, BankOnBuffalo has more than 110 employees serving customers in 11 branch offices in both Erie and Niagara Counties, in its private banking and wealth management group and in its regional headquarters on the historic seventh floor of the Electric Tower.
Over this period, BankOnBuffalo has invested more than $11 million in the local economy through salaries, renovation, construction and furnishing of new branches and in community involvement such as its five-year $100,000 commitment to the Northland Workforce Training Center.
“We are very proud of what our homegrown team has done the past five years to establish BankOnBuffalo as a key player in commercial lending, mortgage lending, small business loans, treasury services and personal savings,” said Michael Noah, BankOnBuffalo president.
“We are truly a Buffalo business success story – created by talented Buffalo people -- and we are not done aggressively helping the Buffalo and Niagara Falls area business communities to succeed and prosper by way of timely and targeted financial services,” he said.
BankOnBuffalo has already announced plans to open its 12th branch office around April 1 at Northland Central and the Northland Workforce Training Center and will begin construction soon after that on its 13th branch office to be located on Transit Road serving the Depew and Lancaster communities. The opening of that office is projected for late 2022.
BankOnBuffalo is also in the process of having all its branch updated with Enhanced Teller Machines (ETM) for convenient customer access. Customers can talk directly to a live teller via an interactive screen while conducting many banking transactions before and after regular banking hours during the week and on Saturdays.
With a focus on expanding its commercial lending and wealth management services, BankOnBuffalo is investing over $200,000 on the build-out of offices in its regional headquarters to accommodate new hires.
BankOnBuffalo opened its first full-service branch office on February 21, 2017 on the first floor of the Electric Tower and expanded later that year by opening branch offices in Orchard Park and Williamsville. The community bank currently operates other branch offices in Akron, Amherst, Clarence, Clarence Center, Lancaster, Niagara Falls, and Wilson, as well as a private banking and wealth management service, BankOnBuffalo Investment Advisors.
Primary banking services available include consumer and business deposit accounts, real estate, commercial, industrial, residential and consumer loans and lines of credit, treasury services, online banking, mobile banking, merchant credit card processing, remote deposit, and accounts receivable handling.
As a community bank, BankOnBuffalo, a division of CNB Bank, is and will continue to be 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.