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Local HSBC branches sold to First Niagara

By ANDREW DONOVAN

UTICA, N.Y. (WKTV) - HSBC has sold 195 Upstate New York branches to First Niagara, including six local branches.

The HSBC branches included in the sale are located in Utica, Rome, Whitesboro, New Hartford, Barneveld and Lowville.

There will be no changes to customer accounts or branches until after the transaction is completed, and the two companies are working to ensure a smooth transition. Once the transition takes places, no customer action is necessary, according to company officials.

Information has not been released as to if any local jobs could be affected. An announcment by First Niagara says the company will research any branches that are no longer necessary. The statement said, "First Niagara expects to divest certain branches in selected locations that are outside its strategic focus."

“We are very pleased to acquire such a high-quality franchise that gives us an optimal footprint in Upstate New York.” said First Niagara President and Chief Executive Officer John R. Koelmel.

Governor Andrew Cuomo released a statement Sunday saying, "This purchase is good news for New York because First Niagara is a New York company that has a record of growth and creating jobs in upstate New York and with this deal it is showing that it is poised to continue and expand this important commitment to our state and our workforce."

Locations Affected:
Utica - 1125 Mohawk Street, Utica
Rome - 1708 Black River Blvd, Rome
New Hartford - 5 New Hartford Shopping Ctr, New Hartford
Whitestown - 131 Oriskany Blvd, Whitestown
Barneveld - Route 12 N Barneveld
Lowville - 7550 S. State St, Lowville (Lewis County)

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