Community Bank, Elmira Savings Bank will merge
DEWITT/ELMIRA--Community Bank, N.A. and Elmira Savings Bank have announced they will merge in the first quarter of 2022, pending customary regulatory and shareholder approval. The merger will expand Community Bank's footprint by adding branches across the Central New York and Southern Tier regions.
As a full-service financial institution, Community Bank will bring expanded product offerings to Elmira Savings Bank customers, including No Closing Cost Mortgages, Carefree Checking, free online and mobile banking and a full suite of investment and financial services.
"We're excited to welcome Elmira Savings Bank's customers and employees to our Community Bank family," Community Bank's President and Chief Executive Officer Mark E. Tryniski said. "Elmira Savings Bank has a strong history of quality, local service and dedication to its customers and communities, which is the same philosophy as Community Bank. This shared philosophy and commitment to customer-focused community banking has been instrumental to our success."
Elmira Savings Bank's President and Chief Executive Officer, Thomas M. Carr, added "By combining these two great organizations, we will be able to offer customers a larger branch network and an increased level of service, including robust digital and mobile banking offerings. Community Bank, N.A. has an unwavering commitment to its customers and is a high performing institution as evidenced by Forbes 7th in the Nation ranking for its financial performance."
Community Bank System, Inc. operates more than 215 customer facilities across upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts through its banking subsidiary, Community Bank, N.A. With assets of over $14.8 billion, the DeWitt, New York headquartered company is among the country's 125 largest banking institutions.
Elmira Savings Bank reported total assets at the end of June of approximately $648.7 million. The bank has 12 branches in the Finger Lakes region of New York.