KeyBank is moving its Newfane branch — just one tenth of a mile up Main Street.
Key plans to relocate the branch to 2700 Main St. from 2743 Main St. on Jan. 22, said Matthew Pitts, a Key spokesman. No jobs will be cut as a result of the change.
Key is moving into what was a Bank of America branch until it closed in 2016. Before that, the building was a FleetBoston Financial branch. The property was sold at auction last summer for about $173,000, according to documents filed with the Niagara County Clerk's Office.
Key will lease its new home in Newfane. The lease on its current building, at 2743 Main, which resembles a house, is set to expire in 2019. Key will attempt to sublease that space after the bank exits, Pitts said.
Why would a bank bother to move such a short distance? Pitts said the 2700 Main St. property offers plenty of advantages. It is compliant with the Americans With Disabilities Act and has all the modern features of a branch, including a drive-up teller window and drive-up ATM. It's also larger than the current branch, in a visible spot, and has ample parking.