December 16, 2020
SUPERINTENDENT LACEWELL ANNOUNCES DFS APPROVES NEW BANK BRANCH
Alden State Bank to Open and Operate New Branch in Erie County, New York
Superintendent of Financial Services Linda A. Lacewell today announced that the New York State Department of Financial Services (DFS) has approved the application of Alden State Bank to open and operate a new branch office in East Amherst, Town of Clarence, Erie County.
“In the midst of a pandemic, access to banking services is now more important than ever,” said Superintendent Lacewell. “With DFS approval, Alden State Bank will be able to expand its footprint and provide greater financial services to Erie County residents.”
With the new additional branch office, Alden State Bank will operate 3 branch offices located in Erie County, New York. As of September 30, 2020, Alden State Bank had a total asset of $402.8 million.
“Alden State Bank thanks the NYSDFS for its timely approval of our application to open a branch in Clarence,” said Steven J. Woodard, President and CEO of Alden State Bank. “This helps put us one step closer to getting the Transit Road office opened.”
Alden State Bank expects to open its East Amherst branch in second half of 2021.