Friday, October 30, 2015

More Change Coming

For those of us whose bank accounts started out with Hudson City Savings Institution, the bank that was founded in Hudson in 1850 at 230 Warren Street (where Cafe Le Perche is now), moved upstreet to 560 Warren Street in 1910 (now owned by the Columbia County), became Hudson River Bank & Trust in 1998 when the bank converted from mutual to stock ownership, and then became First Niagara in 2015 when the bank was sold, another change is coming.

The Times Union reported this morning that First Niagara Financial Group, headquartered in Buffalo, has been purchased for $4.1 billion in cash and stock by KeyCorp, the banking firm that started out in Albany but is now headquartered in Cleveland.

KeyBank used to have a branch in Hudson, at 544 Warren Street, but now the nearest branch is in Greenport, on Fairview Avenue, just a stone's throw--literally--from the Greenport branch of First Niagara.

The Times Union article speculates, "It is unlikely that KeyBank would want to keep 70 branches in the region, which would be much more than any one bank in the region has had at any one time over the past 20 years." It points out that there are at least fourteen instances in the Capital Region market where KeyBank and First Niagara branches were within less than a mile from each other. There's even an interactive map to show those locations. The map, however, does not extend to Greenport.


  1. Hudson River Bank & Trust was a great bank that most unfortunately ended, being replaced by First Niagara which turned out to be absolutely horrible, but Key Bank surpasses all that in ineptitude and shoddy behavior.

    Everyone should run for the hills ASAP or support our local banks Greene County or Kinderhook Union or a credit union !!!

    1. I'm not so sure about your list (which anyway left off Trustco).

      When I went to Greenport to pay my taxes at the Bank of Greene County, I discovered that I'd forgotten a document.

      That was right before the bank closed on a Friday. But when I returned to Greenport the following day, which was the day after everyone's tax was due, I was instructed by the same individual that her bank could not accept late payments.

      Thanks a load! (duh).