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KeyBank to close Youngstown branch

KeyBank will close a branch in Youngstown in June.

The final day of business for the branch, at 421 Second St., will be June 1. Customers' accounts will be transferred to a branch at 2547 Youngstown-Lockport Road in Ransomville, about seven miles away, on June 4.

"KeyBank’s decision to consolidate this branch is purely a business decision based on customer traffic and should in no way be perceived as a negative reflection on Youngstown or the performance of the employees Key has here," said Matt Pitts, a Key spokesman.

Key is working with employees of the Youngstown branch to determine where there is a fit for them elsewhere, Pitts said.

The Youngstown branch had $35 million in deposits as of last June, according to a one-day snapshot provided annually by the Federal Deposit Insurance Corp. The total was down 3.3 percent from June 2016, when the location was a First Niagara branch.

The $35 million in deposits in June 2017 accounted for 3 percent of Key's deposit total for all of Niagara County.

Key owns the Youngstown property, which previously operated under the First Niagara, HSBC and Marine Midland Bank banners.

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