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Community Bank celebrates new loan processing center

Community Bank on Wednesday held a grand opening of its loan processing facility in the Town of Allegany, in conjunction with the DeWitt-based bank’s annual shareholders meeting at the nearby St. Bonaventure University campus.

More than 100 employees work at the 35,000 square foot facility. Community Bank moved into the center in February, the end of a lengthy process to identify a new, expanded location in the Olean area for those operations.

Nicholas DiCerbo, the board chairman, said Community Bank is poised to go from $500 million in assets in 1984 to more than $8 billion in assets, once a planned merger with Oneida Savings is expected to be completed in July.

DiCerbo, in a statement, said the new loan processing center reflects the bank’s “ongoing commitment to Western New York, especially the greater Olean area.”