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Five Star closes deal on HSBC branches

Five Star Bank, an affiliate of Warsaw-based Financial Institutions Inc., has completed its purchase of four HSBC Bank USA, National Association retail branch locations in Orleans and Chemung counties.


“We’re proud to be growing our branch network in new and existing communities throughout the state,” said Peter G. Humphrey, president and CEO of Five Star Bank and Financial Institutions Inc.


Over the weekend, Five Star Bank planned to transition more than 12,000 new customer accounts to their community banking system. Branches in Albion, Elmira, Elmira Heights and Horseheads were to officially open for business Monday under the Five Star Bank name.


The move will make Five Star Bank the second-largest financial institution in Chemung County. In Orleans County, the acquisition of the Albion branch brings Five Star Bank’s location count to two.


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