HSBC is getting out of the Upstate New York retail banking business and that may affect people who use the bank’s Fulton or Oswego locations.
First Niagara, a Buffalo-based bank, announced it will pay about $1 billion for all 195 of HSBC’s branches north of New York City.
But the company will not keep all the branches it buys, according to a report in the Buffalo News:
“…It also expects to sell branches in some markets that aren’t important for its strategy, such as rural markets or the North Country. Specific decisions about which branches and deposits haven’t been made…”
A map provided as part of an investor briefing shows both the existing First Niagara branches, which are located in or near Upstate’s major cities, along with the HSBC branches it is buying.
But the map does not show locations for the existing HSBC branches in Fulton, Oswego or in the North Country.
First Niagara has not said which branches it will keep and which ones it will sell or close.