Bank / Credit Union

Community Bank System receives approval for Elmira Savings Bank merger

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May 26, 2022

Community Bank System Inc. recently announced it has received regulatory approval from the Office of the Comptroller of the Currency and an application filing waiver from the Federal Reserve Bank of New York for its merge with Elmira Savings Bank, according to a press release.

With this approval, Community aims to complete its acquisition of Elmira by May 13, pending approval from the New York State Department of Financial Services.

"We are excited to receive regulatory approvals from the Office of the Comptroller of the Currency and the Federal Reserve as we move towards closing the merger on May 13, 2022. Community Bank looks forward to welcoming Elmira Savings Bank's customers and employees to our family as we work together to integrate two high-quality banks with long histories of service to their customers and communities. We are dedicated to Elmira Savings Bank's customers and both teams are working to make the transition to Community Bank as seamless as possible," Mark E Tryniski, president and CEO, Community, said in the release. "We hope that our new customers will enjoy the larger branch network and variety of financial services Community Bank and its subsidiaries have to offer."