SOLVAY — Third-quarter profit rose 4 percent at Solvay Bank Corp. from a year earlier to $1.6 million.
The bank had total assets of $655.8 million at the end of the period, up 6.2 percent from the end of the third quarter in 2011. Total loans increased 3.5 percent to $383.8 million, mainly as a result of increased volume in commercial and industrial, residential, and indirect consumer lending areas, according to Solvay.
Deposits totaled $590.7 million at the end of the quarter, up 6.2 percent.
(Sponsored)

Small Business Accounting Errors and How to Avoid Them
Running a small business presents many challenges, which can draw your attention in multiple directions at once. Keeping track of your company’s finances is essential to its long-term success and

ESOP Benefits for Architecture and Engineering Firms
Planning an exit strategy from your successful architecture or engineering firm can be difficult at times. While there are many options to choose from, one that many companies fail to
“Our loan volume continues to grow at a modest pace given the current economic conditions,” Solvay President and CEO Paul Mello said in a news release.
Solvay Bank has eight branch offices in Solvay, Fairmount, Camillus, Liverpool, North Syracuse, Cicero, downtown Syracuse, and Westvale. The bank also owns Solvay Bank Insurance Agency, Inc.
Contact Tampone at ktampone@cnybj.com