Five Star cleared to close Wyoming County branch

May 15, 2012 Updated May 15, 2012 at 7:08 AM EDT

By WKBW News
By Business First by Allissa Kline

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May 15, 2012 Updated May 15, 2012 at 7:08 AM EDT

Five Star Bank is set to close one of its Wyoming County offices next month now that it has received approval from the state Department of Financial Services.

The Warsaw-headquartered bank will shutter the branch at 5 S. Academy St. in Wyoming, north of Warsaw, on June 27, a bank spokesperson said. State regulators approved the closure last week, according to the department's weekly banking bulletin.

Five Star applied to permission to close the branch in February. At the time, the bank cited a drop in customers as the chief reason for wanting to end its lease at the site.

Two nearby branches in Pavilion and North Warsaw will continue to be available for customer use. Safe deposit boxes from the Wyoming branch will be moved tot he North Warsaw branch, the spokesperson said.

Five Star is the banking arm of Financial Institutions Inc. It is planning to acquire eight new branches in coming months as a result of First Niagara Financial Group Inc.'s May 18 acquisition of 195 HSBC Bank USA N.A. offices.

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