Alliance Bank to replace branch office in Manlius

CNY Business Journal (1996+), Oct 17, 2003 by Dickinson, Casey J

MANLIUS - Alliance Bank will build a new branch on Route 92 in the Town of Manlius to replace its current branch at 201 Fayette St. Construction will begin in the spring, and the 2,900-square-foot branch is scheduled to open during the summer. Alliance will sell its old Manlius branch when the new location opens.

The new branch is part of a threebranch, Onondaga County expansion plan, says Joseph Russo, vice president of marketing and investor relations for Alliance Financial, the bank's parent company.

The new branch site is near the intersection of Enders Road and a Nice N Easy Grocery Shoppe is also scheduled for construction on the site. Alliance will lease the property from Nice N Easy, says Russo.

Alliance plans to have its new branches completed within the next year. The bank has yet to award building contracts, says Russo.

Alliance has Onondaga County branches in downtown Syracuse, Manlius, Lyndon Comers, Fairmount, and Baldwinsville. Each of the new branches will employ approximately five, says Russo.

Last month, Alliance announced a 2,400-square-foot Cicero branch to be located on Route 11 next to Wegmans' Cicero store near the intersection of Caughdenoy Road. The branch will have drive-up service and a 24-hour ATM. Alliance will lease property from Widewaters Associates. The banking company has yet to tally its final construction and leasing costs for either announced branch, says Russo.

One of the new branches will feature a commercial-banking and small-business center, says Russo. Alliance is still negotiating for the third Onondaga County site in this expansion. The same contractor may construct all three branches.

Formed in 1999, Alliance merged Oneida Valley National Bank and First National Bank of Cortland. The two banks' history stretches back for 150 years. Alliance has 18 branches and more than 250 employees. Headquartered in both Cortland and Oneida, its executive offices are in downtown Syracuse. Alliance posted approximately $7 million in net income on $49.5 million in 2002 revenues. The company launched an investment subsidiary in August.