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Developer Paul Iskalo had set aside the seventh floor of the Electric Tower for a tenant that could take all of the space, rather than splitting it up. The historic tower opened in 1912. And Iskalo viewed the seventh floor as "historically significant" as the building itself. The floor was home to the executive offices of the Buffalo General Electric Co., which presided…

Business

Bank on Buffalo's parent company, CNB Financial, reported a 9 percent increase in profits in the first quarter, to $7.1 million. CNB, based in Clearfield, Pa., said its income tax expense in the first quarter dropped $1.3 million, or 54 percent, due to the federal tax overhaul enacted late last year. Joseph Bower, CNB's president and CEO, said deposits and loans grew…

Business

M&T Bank's late chairman and CEO, Robert G. Wilmers, would have been 84 years old on Friday. To honor his commitment to the community, 84 M&T employees will tackle a spring cleaning project Friday afternoon, in the Buffalo Promise Neighborhood on the East Side. M&T said the volunteer activities will include landscaping, light construction, moving furnitur…

Business

M&T Bank has a huge presence inside the Larkin Center of Commerce on Seneca Street. Now, everyone will know it. The bank on Wednesday began installing a 12-foot high, 67-foot wide illuminated sign atop the building. The company performing the work, Rochester-based Premier Sign Systems, expects to finish the job on Saturday, assuming the weather cooperates. M&…

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43North has named entrepreneur Eric Reich as its new chairman, succeeding William Maggio. Reich has served on the startup competition's board for the last three years, including as its vice chairman since 2016. Reich is the co-founder of Campus Labs, which, under its original name, won the first Panasci entrepreneurship competition held by the University at Buffalo, …

Business

Bitcrusher, which makes sound effects technology for guitars, took first place in the University at Buffalo’s Henry A. Panasci Jr. Technology Entrepreneurship Competition. The team won $52,000 in startup capital and in-kind services. Bitcrusher makes a device for a guitar that allows a user to control digital sound effects directly on the instrument. It can be built int…

Business

The winners of this year's 43North business plan competition will have a shot at a bigger pool of additional funding after they spend a year in Buffalo, which could encourage more of those companies to stick around longer. The organization on Thursday launched the public application process for the contest, which pays a $1 million grand prize to the first-place finisher…

Buffalo

Evans Bank plans to open a downtown branch in the central business district this year. The bank has not yet announced a specific location, said Kevin Brady, vice president of marketing. "This area of the city is enjoying a renaissance that is expected to continue well into the future," said David J. Nasca, the bank's president and CEO, in his letter to shareholders i…

Larkin Express Logistics has opened a freight brokerage at 737 Delaware Ave. and expects to create up to 53 full-time jobs in the next five years. The newly formed company is investing nearly $700,000 at its offices, just south of Summer Street. Empire State Development Corp. is offering up to $300,000 in Excelsior Jobs Program tax credits, which are collected when a co…

Business

Where will you be working on March 29, 2028? If Jeffrey M. Werdein is still with Lake Shore Savings Bank on that date, he'll get a lump-sum payment of $1.4 million. The idea is go give Werdein, the executive vice president of Lake Shore's commercial division, an incentive to keep working at the Dunkirk-based bank. It's an unusually long deal, particularly for a sm…

Business

KeyBank will close a branch on June 22 at 1510 S. Park Ave., at Abbott Road, in South Buffalo. Customers' accounts from that branch will be transferred to a location 1.4 miles away, at 2157 Seneca St., said Matt Pitts, a Key spokesman. Key also has two other branches within 2.5 miles of the location that will close. Key owns the property at 1510 S. Park Ave. The loca…

Business

Construction of the Northland Workforce Training Center is rolling along, with the complex preparing to open in August. Project leaders and elected officials toured the East Side complex on Friday. The training center is the anchor of a Northland Corridor project valued at more than $100 million that is revitalizing the former Niagara Machine and Tool Works building. Th…

Business

Attorney Sarah H. Brennan is well-versed in a complex technology you're bound to hear more about. Brennan helps lead a practice team launched last year by Lippes Mathias Wexler Friedman, focused on cryptocurrency and blockchain technology. In the most basic terms, blockchain is the technology that enables cryptocurrency like bitcoin to function. Blockchain is commonl…

Business

Erie County Democrats want to close a loophole they say lets some contractors on county projects get work without adequately training new apprentices. They want to tighten requirements for apprenticeship programs on county-funded projects to require a graduation rate of at least 30 percent. But what appears to be a minor change in an existing law has drawn concerns f…

Business

Farm, a Depew marketing communications firm, is on the move. The firm, which changed its name from SKM Group a couple of years ago, is relocating to 4493 Walden Ave. in Lancaster, effective April 16. That will also be the new home of a sister company, Pathfinder, a business research firm formerly called Focused Marketing Associates. Farm says it has outgrown its curr…