KeyCorp to Merge 3 Units into National Bank

ALBANY, - N.Y. - KeyCorp said it has received approval from the Office of the Comptroller of the Currency and the New York State Banking Department to merge three of its banks into a single, nationally chartered entity with $13 billion in assets.

The unit will be based in Albany and called Key Bank of New York. It will consolidate Key Bank of Eastern New York, Key Bank of Western New York, and Key Bank of Central New York.

Gary R. Allen, former chairman and chief executive officer of the western New York bank, was named president and CEO of the combined bank.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.