Alliance Bank Being Merged Into by Larger Bank

The Alliance Bank branch on the east side of Oswego. Photo by Stave Yablonski.
The Alliance Bank branch on the east side of Oswego. Photo by Stave Yablonski.

A bank with branches throughout Oswego County will change its name when it is merged into another bank, officials said Monday.

Alliance Bank, headquartered in Syracuse, will become NBT Bank when the deal closes and federal regulators give approval.

NBT is headquartered in Norwich and has 135 branches throughout the Northeast.  Alliance Bank has 35 branches in Central New York.  Alliance moved into Oswego County in 2006 with the purchase of Oswego County National Bank.  Alliance now has branches in Oswego, Fulton and Pulaski.

“We believe this a very unique and special opportunity to bring two strong community banking organizations together,” said NBT President and CEO Martin Dietrich in a conference call with reporters.

No branches are slated to close, Dietrich said, because the two companies do not have branches in the same community. Some workers will lose their jobs as the company merges accounting and other back-office functions, he said.

“We are, in fact, going to be a more formidable competitor, particularly on the commercial side, where our size has restrained us in some respects,” said Jack Webb, Alliance Bank’s CEO, who will remain with the merged company.

Alliance Bank has been a very visible member of the Central New York community, lending its support to many activities.  Its most visible effort is its naming rights to the county-owned baseball stadium in Syracuse, Alliance Bank Stadium.

Dietrich said it was too soon to tell whether NBT would keep the stadium’s naming rights, but  joked that he was a baseball fan and said that he did not intend to change the things that worked for Alliance Bank.