Waterford Bank to open doors in February
Banker’s 36-year dream realized

Flemming

Waterford Village Bank, the first new community commercial bank chartered in Western New York in the past 70 years, received its state authorization and FDIC insurance approvals on Dec. 7, marking the “go-ahead” for the bank’s board and local investors. The bank will officially open with a temporary, full-service branch at 8411 Main St. in early 2007.

Waterford Village Bank’s successful capital campaign, which raised $10 million, was completed earlier this month, with 90 percent of the bank’s capital held by Buffalo area investors. The majority of the other 10 percent is held by Buffalo natives, some of whom now work or live in other areas of the United States, who had an interest in putting their investment to work in the Buffalo community.

“We are very grateful to the local community for their confidence in our ability to open a bank that seeks to enhance the lives of individuals and businesses in the communities that we serve,” said Kathleen Kiesel Flemming, president and CEO of Waterford Village Bank. “Our commitment is to support area businesses and individuals who want to invest in our community.

“Our team believed there was a need for a new Buffalo area community bank owned by local investors,” added Flemming. “We plan to focus on small businesses, families and professional sports athletes who desire the personal attention and special services that a bank like ours can offer. Benefits for customers are local ownership and management, short turnarounds on loan approvals, and an experienced staff that knows customers and the community.

In January, Concept Construction of Elma, will begin construction of a permanent 6,700-square-foot bank facility with three drive-through lanes and an ATM at 8411 Main St.

The building, designed by Flemming, will feature a brick and glass exterior and a clock tower on a 1.5-acre site and is expected to be completed by June. Silvestri Architects will assist on the project.