BSB Bancorp Completes Acquisition of Skaneateles Bancorp.BINGHAMTON, N.Y--(BUSINESS WIRE)--July 1, 1999-- BSB BSB Backstreet Boys BSB Bayerische Staatsbibliothek BSB British Superbikes (motorcycle racing series) BSB Bachelor of Science in Business BSB Bandar Seri Begawan (capital of Brunei) Bancorp, Inc. (Nasdaq: BSBN BSBN Baltic Sea Business Network BSBN Bu Sa Bum Nim ) today announced that it has completed its acquisition of Skaneateles Bancorp, Inc. The merger agreement with Skaneateles Bancorp was overwhelmingly approved by Skaneateles' shareholders on June 29, 1999. The merger was announced in January and received regulatory approvals earlier in June. Under terms of the agreement, Skaneateles shareholders will receive .970 BSB shares for each share of Skaneateles stock. Skaneateles shareholders will receive instructions for the exchange of stock certificates within the next few weeks. "Our partnership with Skaneateles strengthens BSB Bancorp's franchise and further extends our presence in central New York Central New York is a term used to broadly describe the central region of New York State, roughly including the following counties and cities: Cayuga County – Auburn Cortland County – Cortland Madison County – Oneida State," Alex S. DePersis, President and Chief Executive Officer of BSB Bancorp stated. "Customers of BSB and Skaneateles will benefit from having greater access and convenience through our extensive network of branch offices and ATM's. Skaneateles customers will enjoy the added benefit of BSB StoreTeller, enhanced TelephoneTeller system, PC Home Banking and an expanded offering of Loan, Deposit, Trust and Brokerage Services." "Skaneateles customers should continue to bank as they normally do," DePersis said. "BSB is working very hard to make this transition easy for all customers." All Skaneateles Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. offices will remain open as offices of BSB Bank & Trust. All branch employees will continue in their present assignments. "We are very involved in, and supportive of, the communities in which we do business," DePersis stated. "We look forward to demonstrating our commitment to these new locations." DePersis also announced that the Boards of Directors of BSB Bancorp and BSB Bank & Trust have elected John P. Driscoll and Ann G. Higbee as Directors of both BSB Bancorp and BSB Bank, filling vacancies on each Board. Both Mr. Driscoll and Mrs. Higbee served as directors of Skaneateles Bancorp and Skaneateles Savings Bank. "We are pleased to welcome these new members to our Board," DePersis said. "We also want to recognize the former Directors of Skaneateles who now form the nucleus of a new Advisory Board to help direct our activities in central New York." BSB Bancorp, Inc., which reported total assets of $1.9 billion as of March 1999, is the holding company for BSB Bank & Trust Co. BSB Bank & Trust has served the Binghamton community for 130 years, and offers full service business and retail banking services throughout southern and central New York State. BSB Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , BSB Bancorp's investment management subsidiary, offers a complete range of trust and personalized per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. investment services, in addition to securities brokerage, annuity annuity: see insurance. annuity Payment made at a fixed interval. A common example is the payment received by retirees from their pension plan. There are two main classes of annuities: annuities certain and contingent annuities. and mutual fund sales, and other traditional investment/broker activities. BSB Bancorp, Inc. and BSB Bank & Trust Co. are headquartered in Binghamton, New York This article is about the City of Binghamton, New York. For the adjacent Town of Binghamton, see Binghamton (town), New York. Binghamton is a city located in the Southern Tier of New York in the United States. It is the county seat of Broome County. and conduct business in Broome, Tioga, Chenango, Chemung, Onondaga and Oswego Counties, and adjacent areas in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of State. |
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