KeyBank to widen reach in Buffalo area

KeyBank plans to open six new full-service branches in Western New York, including at least four locations in Erie County, over the next two years.

The 15 percent expansion in the bank’s branch network is an indication that the “Buffalo Niagara region is a strong and critical market” for the Cleveland-based bank, the company said in an announcement.

The new locations, which will open this year and in 2010, will be in West Seneca, East Amherst, Orchard Park and Grand Island. Two remaining branch sites will be announced later.

About 45 new banking jobs and an undetermined number of construction jobs will be created in the expansion project, said Sterling Kozlowski, president of the Western New York District, where the bank is the third ranked deposit-taker.

The expansion program will help Key achieve its goal of exceeding 10 percent market share, Kozlowski said.

“Western New York is an important and successful market for KeyBank,” Kozlowski said in a prepared statement. Our community bank model is certainly contributing to our growth here. For example, KeyBank increased retail banking deposits in Western New York by 7 percent over the past year.”

In the Buffalo market, KeyBank operates 40 branches, a recently upgraded call center in Amherst and nearly 1,000 employees.

The bank already has acquired four of the six new branch locations.

Those scheduled to open this year are in Wegmans Plaza on Orchard Park Road, West Seneca, and Tops Plaza at North French and Transit roads, East Amherst.

Openings in 2010 are planned for branches in Orchard Park at Union and Michael roads and in Tops Plaza on Grand Island.