Banks & Credit Unions

DeWITT — Third-quarter profit slipped 8 percent at DeWitt–based Community Bank System, Inc. (NYSE: CBU) to $18.4 million, or 46 cents a share. Acquisition costs totaling $4.8 million for the period, compared with $400,000 a year earlier, helped push earnings lower.  Community Bank System has $7.6 billion in assets and more than 180 branches. The […]

Job cuts announced in October at First Niagara Financial Group, Inc. (NASDAQ: FNFG) eliminated just a few positions in Central New York. The Buffalo–based banking company cut 180 positions across its four-state footprint, but just five of the jobs were located in Central New York, according to an email from David Lanzillo, a First Niagara

KeyCorp (NYSE: KEY) remains on track to cut $150 million to $200 million in annual expenses by December 2013. The Cleveland–based banking company’s plans include closing up to 5 percent of its nationwide branch-office network, reducing staffing levels, and examining its contracts with third-party vendors, Key leaders said during a conference call Oct. 18, discussing

HSBC’s remaining businesses in upstate New York lost a major signpost when the bank sold its retail branch network in the region earlier this year. “The branch network gave us great visibility,” says Kevin Quinn, HSBC senior vice president and the new head of corporate banking for upstate New York. “I think what we learned

Higher mortgage-banking revenue, more net interest income, and a lower provision for loan losses drove profit higher at M&T Bank Corp. (NYSE: MTB) in the third quarter. Expenses also fell in the period by 7 percent from a year earlier as the integration of Wilmington Trust Corp., which M&T acquired last year, is now complete. Profit