New York

The Buffalo, N.Y., company said that the $1.5 billion purchase created a bank with over $30 billion of assets and $18 billion of deposits in Connecticut, Massachusetts, Pennsylvania and New York.

The Federal Reserve and state regulators in New York and Florida last week issued a cease-and-desist order against Banco Industrial de Venezuela.

Community National Bank in Great Neck, N.Y., said improved net interest income was instrumental in its posting a first-quarter profit of $623,000, compared with a $134,000 profit a year earlier.

State Bancorp Inc. in Jericho, N.Y., reported first-quarter results that were modestly higher from a year earlier, at $3 million.

Chemung Financial Corp. in Elmira, N.Y., has completed its acquisition of Fort Orange Financial Corp. in Albany, N.Y.

Suffolk Bancorp in Riverhead, N.Y., said Tuesday that is overhauling its lending operations after reporting a big first-quarter loss.

Intervest Bancshares Corp. in New York posted a first-quarter profit after reporting a loss a year earlier. The $2 billion-asset company reported a profit of $1.7 million, or 8 cents a share, compared with a loss of $2.9 million, or 35 cents a share, a year earlier.

Community Bank System Inc. in DeWitt, N.Y., said Monday that it has completed its acquisition of Wilber Corp.

By the end of this month the Office of Thrift Supervision wants Carver, a minority-owned bank that serves underbanked communities in New York City, to increase capital ratios by at least $20 million. Analysts, however, believe Carver may need as much as $35 million to properly repair itself.

First Niagara Financial Group has cleared the final hurdle in its bid to buy NewAlliance BancShares Inc. in New Haven, Conn.

Empower Federal Credit Union of Syracuse, N.Y., is using a secure document signing technology from Integrated Media Management.

The Federal Reserve has ordered First American International Corp. to serve as a source of strength to its Brooklyn, N.Y., bank.

Community Bank System Inc. in DeWitt, N.Y., said Monday that it has received shareholder and regulatory approval to acquire Wilber Corp.

Chemung Financial Corp. in Elmira, N.Y., has cleared one of the final hurdles in its bid to buy Fort Orange Financial Corp. in Albany, N.Y.

First Niagara Financial Group Inc. in Buffalo, N.Y., said it has hired a former Ally Financial Inc. executive as its chief financial officer.

The $958.3 million-asset company named Bruce Boyea a director. Boyea is the chairman, president and chief executive of Security Mutual Life Insurance Co. of New York.

Financial Institutions Inc. in Warsaw, N.Y., plans to raise $40 million of fresh capital through a public stock offering.

Sterling Bancorp in New York City said Friday that it plans to sell $33.6 million of common stock in a public offering.

Hudson Valley Holding Corp. in Yonkers, N.Y., said the chief of staff for former New York Gov. George Pataki has joined its board.

Carver Bancorp Inc. in New York said Monday that one of its units has received $25 million in tax credits to spur investments in low-income communities.