Five Star Bank expects to open more branches in the Buffalo area, as part of its growth plans for the region.
"We recognize that in the future, we need to have more branches in the Buffalo market," said Martin K. Birmingham, president and CEO of the bank's Warsaw-based parent company, Financial Institutions. "We're working on our plans to develop that."
Birmingham wouldn't say how many more branches Five Star Bank would open in the region, or when, calling it a "careful investment decision."
Five Star has four branches in Erie County. Last year, the bank had deposit market share of 0.41% in the Buffalo Niagara region, ranking 10th, according to the Federal Deposit Insurance Corp.
Five Star Bank opened a branch at Fountain Plaza in early 2017, its first location within the City of Buffalo.
"We are right on plan with our expectations" for that location, Birmingham said.