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Jan 20, 2020

Five Star Bank has bigger plans for Buffalo

Five Star Bank is making a bigger push into the city of Buffalo, with two new branches coming soon.

The bank, which is based in Wyoming County, has mainly served the Buffalo Niagara region from suburban branches.

The two new branches will probably open about a year from now, said Martin K. Birmingham, the president and CEO. One will be at 451 Elmwood Ave., where Elmwood Crossing is getting underway, and the other will be at 2222 Seneca St. in South Buffalo, near Cazenovia Park.

Both will be new facilities. Birmingham declined to say how much the bank will spend on the two branches, which still need regulators’ approval to move forward.

The two new city locations will help the bank fill in its presence geographically, joining its locations in Orchard Park, East Aurora and Amherst.

“These are logical geographical steps for us to take,” Birmingham said.

Only one of Five Star’s four Erie County branches is presently inside the city. That location, in Fountain Plaza, opened about three years ago and accounted for just 7% of Five Star’s deposits in the county as of last June 30.

“We’re very bullish and excited about Buffalo,” Birmingham said. “It has and continues to represent a significant growth market for us, relative to our modest market share.”

Published by The Buffalo News

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