Capital Bank, a division of Chemung Canal Trust Co., will open a new, full-service branch in the Saratoga Springs/Wilton area.
According to Anders M. Tomson, president and CEO of Chemung Canal Trust Co. and division president of Capital Bank, “expanding deeper into Saratoga County has been a desire of ours for some time, but it was a matter of identifying the right facility with the right site. We are confident that this location is the perfect match.”
Capital Bank currently operates a branch in Clifton Park.
Located at 3057 Route 50, Capital Bank will lease a former First Niagara office, just on the northern edge of Wilton Plaza. The building has approximately 3,400 square feet of space and features a drive-in teller and a drive-up ATM.
Tomson said the branch will likely open during the second quarter of 2018.
“The building is large enough to allow us to make this a regional financial center, offering residential, small business and commercial lending; wealth management and brokerage services,” he said. “These services will complement our more traditional individual and commercial banking products.”
The Saratoga branch will be Capital Bank’s seventh location, and follows the announcement earlier this year that Capital Bank is building a new branch within Schenectady’s Mohawk Harbor waterfront development project. That office is scheduled to open during the first quarter of 2018.
“Saratoga County is the fastest growing county in New York state, outside of New York City and Westchester County,” Tomson said. “With a strong economic foundation, a well-diversified employment base, low unemployment, quality healthcare and educational outlets, and a plethora of cultural and entertainment venues, we believe that the residents and business community will benefit from our community banking business model, which emphasizes a ‘high touch’ approach to meeting our clients’ banking needs.”
Capital Bank, originally formed in 1995, was merged into Chemung Canal Trust Co. in 2011.
Bank officials reported assets of $1.7 billion. The company has 33 offices in 11 counties in New York state and one county in Northern Pennsylvania.