Solvay Bank Sets Sights on Growth in the Mohawk Valley
02/02/2024
By: Traci DeLore ([email protected])
CNY BUSINESS JOURNAL ARTICLE By: Traci DeLore ([email protected])
SOLVAY, N.Y. — After more than 106 years of serving Central New York, Onondaga County–based Solvay Bank is pushing its reach further with its sights set on the Mohawk Valley.
In late December, the banking company announced its commercial expansion into the Mohawk Valley and the hiring of Matt Nicholl as VP, commercial-loan officer, to serve the region.
Solvay Bank President/CEO Paul Mello says the demographics of the Mohawk Valley region, including the small-business climate, are similar to Onondaga County and appealing to the bank.
“When we looked at the Mohawk Valley, we felt like it was the perfect complement,” he says. Solvay Bank already has some commercial accounts in the area, making it a natural fit.
And while there are a “lot of fine banks” that already serve the Utica–Rome region, Mello says he believes the market is big enough to support them all...