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Five Star Bank plans expansion in Amherst

Five Star Bank will add office space in Amherst, another sign of its ambition to grow in the Buffalo Niagara region.

Five Star plans to open a residential mortgage office in Sheridan Meadows Corporate Park, a Uniland Development property on Sheridan Drive near Transit Road. It won't be a bank branch.

Five Star earlier this year opened a downtown branch at 40-50 Fountain Plaza. Executives with Five Star's Warsaw-based parent, Financial Institutions, have said they want to step up the bank's presence in the region, in light of the market disruption caused by KeyBank's deal for First Niagara Bank.

Five Star has a team of 16 residential mortgage employees based in offices in back of the Fountain Plaza branch, but they have outgrown that space, said Shelly Doran, a bank spokeswoman.

Five Star needs approval from the state Department of Financial Services before it can open the Amherst office, so the opening date has not been determined, Doran said.

The mortgage office will be in a different part of the same building at 6255 Sheridan Drive as Robshaw & Julian, an investment adviser Five Star's parent company recently acquired.

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