Lake Shore Bancorp, Inc., the holding company for Lake Shore Savings Bank, announced that the bank has purchased the former First Niagara Bank branch office located at 4950 Main St. in Snyder.
The purchase only includes the building and its contents and does not include the acquisition of any loans or deposits. The bank plans to open a new branch at this location, pending receipt of regulatory approval, during the second quarter of 2013. This will be the 11th branch location for Lake Shore Savings Bank.
"We are pleased to be able to execute our strategic plan and expand our presence in Erie County," said Daniel P. Reininga, President and Chief Executive Officer of Lake Shore Savings Bank. "We will be able to provide customers in Snyder, Williamsville and the surrounding communities with an option to do their banking with a 'community bank' that has been in existence since 1891. We look forward to being able to bring our banking model to this market area and to meet the financial needs of local families and businesses by providing a superior level of personal service that differentiates us from larger banks."