Savings bank

Community Bank System Receives Approval for Elmira Savings Bank Merger

Community Bank System Inc. recently announced that it has received regulatory approval from the Office of the Comptroller of the Currency and a filing waiver from the Federal Reserve Bank of New York for its merger 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 pleased 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 customers and employees of ‘Elmira Savings Bank in our family as we work together to integrate two high quality banks with a long history of serving their customers and communities.We are dedicated to the customers of Elmira Savings Bank and both teams work to to make the transition to Community Bank as seamless as possible,” Mark E Tryniski, President and CEO of Community, said in the statement. “We hope our new customers will appreciate the extensive branch network and variety of financial services that Community Bank and its subsidiaries have to offer.”

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