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Business

KeyBank's new branch at Delavan and Grider isn't quite ready to open, but prospective customers keep tugging on the front door, assuming that it is. Employees pop out and invite the confused customers to come back on Monday, which is opening day. A paper sign attached to the door conveys the same message. Meanwhile, an ATM on the property is already running, and had 30 …

Business

KeyBank's new East Side branch is getting ready to open next month, and its neighbors are noticing. "They are emailing us pictures of the branch progress," said Kawanza A. Humphrey, Key's regional corporate responsibility officer. "Our awning went up (this week) and we immediately got a picture from a community member." The new branch is a visible piece of the five-y…

Business

KeyCorp.'s commercial real estate lending division has provided a $45.8 million loan to Hamister Group to refinance debt on the Orchard Heights senior housing property in Orchard Park. KeyBank Real Estate Capital originated the fixed-rate, 15-year loan for the 162-unit property at 5200 Chestnut Ridge Road, which was constructed in 1992 and renovated in 2016. It includes…

Business

KeyBank plans to open its new East Side branch on June 3, the latest sign of the renewed interest banks have taken in that part of the city. The full-service branch will revive part of a former Rite Aid at East Delavan Avenue and Grider Street. Key is adding the East Side location at a time when many banks, including Key, have shut branches elsewhere. But Beth E. Moo…

Buffalo

A group of 10 banks and local philanthropic foundations – including M&T Bank Corp. and the Ralph C. Wilson Jr. Foundation – are pledging more than $8 million to support nonprofit organizations working on Buffalo's East Side, building off the state's recent commitment of $50 million to benefit the same impoverished areas. The partnership is creating a pooled investme…

Business

KeyCorp chair and CEO Beth Mooney had total pay of $10.1 million in 2018, according to a regulatory filing. Her pay package for the year included a base salary of $1.2 million, and a long-term incentive award of $6.4 million. The Cleveland-based bank's regional headquarters is in Larkinville. Key acquired First Niagara Bank in 2016, and ranks second locally in deposi…

Business

Buford Sears was looking to rejuvenate his banking career when he moved to Buffalo in 1992. By then, the West Virginia native had spent 13 years working for Atlanta-based banks. But his career had stalled amid mergers. "I had this sort of hotshot rocketship career path that was very much plateaued out," he said. That would change. Sears took a job with M&T Ban…

Business

KeyBank chairman and CEO Beth E. Mooney will serve as the next chair of the board of directors of the Cleveland Clinic, taking over for Robert E. Rich Jr. Rich, the chairman of Rich Products Corp., has served as chair for 11 years. Mooney will take over as chair on May 6. She has served on the clinic's board since 2006. Key's Northeastern regional headquarters is in Lar…

Business

Don't look for KeyCorp to make another banking acquisition anytime soon, according to one of its top executives. "We're not seeing a need to go out there and do other bank acquisitions to support our franchise or gain additional market share that way," said Donald Kimble, Key's chief financial officer, at an RBC Capital Markets conference on Tuesday. "That's not a prior…

Business

KeyBank has provided $12.1 million in financing for Elim Townhomes on Holden Street in Buffalo. The 2-acre property will feature 30 townhome units, available to households earning 50 percent of the area's median income. Key's financing consists of a $5.4 million construction loan and $6.7 million in 9 percent tax equity to Belmont Housing Resources for Western New Yo…

Business

KeyBank has started to convert part of a shuttered Rite Aid into a new full-service branch on the East Side. Key is aiming to open the branch, at the intersection of East Delavan Avenue and Grider Street, by late May, said Gary Quenneville, Key's regional executive for upstate New York. The lead contractor is RP Oak Hill, which has handled a number of branch-related …

Business

KeyBank will close a branch at 50 E. Main St. in Westfield, in Chautauqua County, on April 26. Key owns the property, said Matt Pitts, a Key spokesman. The Main Street branch had the smallest amount of deposits among Key's five Chautauqua County branches last year, according to Federal Deposit Insurance Corp. statistics. Key ranked second in deposit market share in t…

Business

As banks try to grab more deposit market share and attract more business clients, they are scooping up experienced personnel from competitors and giving them new roles. Big players in the region are also hiring and promoting new people to important roles, eager to keep their edge over their competitors. Here is a look at one up-and-comer at area banks; click here to see mo…

Business

Kawanza A. Humphrey always had an interest in the community development side of banking. She is putting her passion to work at a notable moment for KeyBank. Humphrey is helping to oversee a community benefits plan that so far has poured $290 million worth of loans and investment into Western New York. Key is now in the third year of its five-year benefits plan, which em…

Business

KeyBank expects to close branches at a faster clip this year. "You'll actually see us step that up this year over last year," said Christopher Gorman, vice chairman and president of banking, in a Thursday conference call. Last year, Key closed 38 branches across its network. "We feel like we're pretty good at it," Gorman said. "As we went through First Niagara and we…