March 29, 2017
Contact: Richard Loconte, 212-709-1691
DFS AUTHORIZES EXPANSION OF NEW YORK STATE-CHARTERED BANK
USNY to Open Bank of the Finger Lakes Branch in Yates County
Financial Services Superintendent Maria T. Vullo today announced that the New York State Department of Financial Services (DFS) has approved a branch application for a New York State-chartered bank, USNY Bank, to open a new branch in Penn Yan, Yates County.
“DFS is committed to encouraging the expansion of New York State-chartered banking institutions,” said Financial Services Superintendent Maria T. Vullo. “New York State-chartered banks offer vital resources to local communities, including access to financial services and employment opportunities, and contribute to regional economic growth while providing strong consumer protection through regulatory oversight by DFS.”
Mike Briggs, President and Chief Executive Officer of USNY Bank said, “We would like to thank Superintendent Vullo for the approval and ongoing support of DFS. We look forward to the opportunity to open a new branch office in Penn Yan under our Bank of the Finger Lakes unit so we can continue to serve the banking needs of individuals, businesses, and farms in Yates County. We have existing bank customers in the area who will be better served by a branch in Penn Yan. We’ll be putting out additional information as we get closer to opening the branch in the summer.”
DFS has approved USNY Bank’s application to open a new branch location at 100 Main Street in the Village of Penn Yan, Yates County. USNY Bank is an independently-owned, commercial bank chartered by New York State and headquartered in Geneva, New York. The Bank is an SBA Preferred Lender and FSA Certified Lender, specializing in providing banking services for small and mid-sized businesses, professional practices, agribusinesses, farms and wineries; in addition to retail lending to local consumers. USNY Bank operates two full-service banking units, Bank of the Finger Lakes at 389 Hamilton Street in Geneva, New York and Bank of Cooperstown with offices at 73 Chestnut Street in Cooperstown, New York and 34 Main Street in Oneonta, New York.