NBDC to acquire 6 Bank of America branches in Sullivan County
Walton — Delaware Bancshares, Inc. announced Tuesday that its wholly owned banking subsidiary, the National Bank of Delaware County has entered into a purchase and assumption agreement to acquire six branch banking locations in Sullivan County from Bank of America.
The transaction, which is subject to regulatory approval and customary closing conditions, is expected to make NBDC Bank one of the top three deposit market share leaders in the region.
“We are excited by the opportunity to expand into Sullivan County. We anticipate our brand of community banking will resonate well with businesses and residents, as we are committed to delivering friendly and dependable service,” said James S. Stracuzzi, president and CEO of NBDC Bank.
The branch locations being purchased include Callicoon, Liberty, Monticello, Narrowsburg, Roscoe, and Wurtsboro.
“Both companies will be working closely together to ensure a smooth transition which we expect will be seamless for customers. We are particularly pleased to retain all current employees working in these branches, assuring customers that they will continue to do business with the same dedicated and friendly staff. In addition, we look forward to augmenting our management team and enhancing career opportunities for all NBDC Bank employees,” Mr. Stracuzzi emphasized.
The latest information on the transaction can be found at www.nbdcbank.com.
NBDC Bank is an independent community bank with over $260 million in total assets, operating a full-service community banking business, along with wealth management, trust and estate services through six full-service offices located in Delaware County. Originally chartered in 1890 and opened in 1891 as the First National Bank of Walton, it subsequently acquired the Bank of Andes in 1958, a branch office in Hamden in 1997, and the National Bank of Stamford, with its Roxbury branch, in 2007.
The National Bank of Delaware County name was adopted in 1958.
NBDC Bank is known for its commitment to the communities it serves by meeting the banking needs of individuals and businesses, and supporting community projects, events and charities. NBDC Bank is the sole wholly owned subsidiary of Delaware Bancshares, Inc.