Guess its time to get used to a new bank...Looks like HSBC (formerly Marine Midland) is indeed being sold....Fellow Buffalo-based First Niagara Bank is buying HSBC's upstate NY branches for a reported billion dollars.
Its unclear from the story what their plans are, but it sounds like they plan to keep most branches operating. There are seven HSBC branches in Jefferson County including three in the City of Watertown.
Meanwhile in a move likely related to the expected sale, locally owned Watertown Savings Bank has launched an ad campaign aimed at getting customers to switch. The Internet ads feature access to forms needed to transfer accounts, and touts how easy the process is.
As for First Niagara, the takeover isn't expected until early 2012.
HSBC sheds U.S. branches in $1 billion First Niagara pact Reuters