Marine Midland Bank, a unit of HSBC Holdings PLC, said it has completed its acquisition of First Federal Savings and Loan Association of Rochester.
Last August Marine Midland, owned HSBC Holdings PLC, London, said it would pay CT Financial Services Inc. $620 million for the thrift.
The state Banking Department approved the deal Feb. 13, as the Federal Reserve Board had done Feb. 3.
Marine Midland had $23 billion of assets before the purchase.
First Federal has $7.1 billion of assets, $4.3 billion of deposits, and 79 branches in New York. The bank said First Federal branches would convert to Marine Midland systems by August 1997.
"Teams from all areas of Marine Midland and First Federal worked on plans for the integration for several months, and we are confident the process will move along on schedule over the next few months," said James Cleave, Marine Midland's president and chief executive officer. Mr. Cleave is also chief executive of the bank's immediate parent, HSBC Americas Inc.