Printer Friendly

NATIONAL SAVINGS BANK OF ALBANY ACQUIRED BY KEYCORP

 ALBANY, N.Y., Feb. 26 /PRNewswire/ -- Victor J. Riley, Jr., chairman, president and chief executive officer of KeyCorp (NYSE: KEY), reported today the completion of the acquisition of National Savings Bank headquartered in Albany, N.Y.
 Based upon the approval of the transaction by the Federal Reserve Board on Jan. 19, 1993, National shareholders will receive .883 shares of KeyCorp common stock for each share of National common stock.
 The nine former National branches opened for business today as Key Bank of New York branches. Gary R. Allen, president and chief executive officer of Key Bank of New York, commented, "All of us at Key Bank of New York are extremely pleased about our expanded presence within the Capital Region. The merger of National Savings Bank into Key Bank of New York will provide National customers with a broader array of financial products and services than ever before, as well as over 300 branch offices across the state.
 "We recognize that this market expansion increases the level of responsibility of Key Bank to serve the communities of the Capital Region. We take this responsibility, as well as our new customers, very seriously."
 Key Bank of New York has assets in excess of $13 billion and serves communities across New York State through its 327-branch network.
 KeyCorp (NYSE: KEY), with assets over $30 billion, is a multi- regional bank holding company headquartered in Albany, New York. It has focused its banking expansion activities in the Northeast and Northwest. As "America's neighborhood bank," KeyCorp pursues a middle-market target concentrating its resources in cities and smaller communities of the northern tier of states, thus avoiding overcrowded marketplaces and single industry loan exposure.
 -0- 2/26/93
 /CONTACT: Lee Irving, 518-486-8579, or Susan Peterson, 518-486-8258, both of KeyCorp; or Herbert E. Knoll, Jr. of Key Bank of New York, 518-486-8253/
 (KEY)


CO: KeyCorp; National Savings Bank ST: New York IN: FIN SU: TNM

KK -- CL005 -- 0717 02/26/93 08:43 EST
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Feb 26, 1993
Words:328
Previous Article:FIRST UNION TO ACQUIRE FIRST AMERICAN METRO CORP.
Next Article:COMPANY LOYALTY NEAR-DEAD, SAID "INDUSTRY WEEK" MAGAZINE
Topics:


Related Articles
KEYCORP TO ACQUIRE NATIONAL SAVINGS BANK OF ALBANY, N.Y.
DEFINITIVE AGREEMENT REACHED FOR KEYCORP TO ACQUIRE NATIONAL SAVINGS BANK OF ALBANY, NEW YORK
KEYCORP ACQUIRES SECURITY PACIFIC BANKING OFFICES
DEFINITIVE AGREEMENT ANNOUNCED FOR KEYCORP TO ACQUIRE HOME FEDERAL SAVINGS BANK
DEFINITIVE AGREEMENT ANNOUNCED FOR KEYCORP TO ACQUIRE HOME FEDERAL SAVINGS BANK
FIRST AMERICAN BANK OF NEW YORK ACQUIRED BY KEYCORP
CLARIFICATION: KEY BANK OF WASHINGTON RELEASES CLARIFICATION ON SALE OF VACANT BRANCH PROPERTIES
KEY BANK ACQUIRES NORTHWESTERN NATIONAL BANK
FEDERAL RESERVE BOARD APPROVES KEYCORP/SOCIETY MERGER
SOCIETY NATIONAL BANK ANNOUNCES AGREEMENT TO ACQUIRE STATE HOME SAVINGS BANK

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters