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KeyBank on track to acquire HSBC branches

Cleveland-based KeyBank National Association is on track to acquire 37 retail banking branches owned by HSBC Bank in Rochester and Buffalo.

The closing is expected to occur on July 13, with KeyBank acquiring 26 branches in the Buffalo area and 11 in and around Rochester, bringing to 99 the total number of KeyBank branches in those markets. The acquisition will add approximately $2.4 billion in deposits and $400 million in loans.

“Western New York and Rochester are attractive markets for us,” said Beth Mooney, chairman and CEO of KeyCorp.

During conversion weekend and for several weeks afterwards, KeyBank will have additional staff in its branches and call centers; extended branch hours will also be offered in all locations in these markets on Tuesdays, Thursdays and Saturdays for an unspecified time.

HSBC customers have been mailed a welcome kit with all of the information they need to have a seamless transition to becoming a KeyBank customer. For additional information, visit www.key.com.