Bank on Buffalo plans to open its fifth branch at 827 Hopkins Road in Amherst, at a former First Niagara Bank location.
The branch, near Klein Road, was closed by KeyBank after the two banks merged in October 2016. Prior to First Niagara, it was an HSBC branch.
Part of the location's appeal was that it was in a place "not densely populated with other bank branches," said Martin Griffith, Bank on Buffalo's president. And when it was still operating as a First Niagara branch in 2016, the location had about $20 million more in deposits than another former First Niagara branch that Bank on Buffalo has taken over at 5190 Sheridan Drive in Amherst, he said.
Bank on Buffalo, a division of Pennsylvania-based CNB Financial, has applied to regulators for approval for the branch. The bank hopes to open the branch within six months of receiving regulatory approval and after renovating the property, Griffith said.
Bank on Buffalo will lease the location from Plaza Group, which bought the vacant branch in October for $410,000, according to county property records.
In early 2017, Northwest Bank had considered opening a branch at the location but later scuttled the idea.