BMO Financial and BNP Paribas have announced a commercial agreement and new cross-border framework to enhance coverage and access to a global network.
They will also enter into a comprehensive leasing services partnership. As part of this collaboration agreement, both banks will continue to provide and expand on international services offered to clients.
The agreement follows BNP Paribas’s sale of Bank of the West to BMO which closed on 1 February 2023. This cross-border commercial agreement will ensure continuity of services for commercial banking clients and a focus on existing international commercial clients shared between BNP Paribas and Bank of the West. The agreement will also seek to boost future referrals for clients looking to access BNP’s extensive multi-country European and Asian presence and /or BMO’s deep, and now expanded network in the US and Canada.
The advantages of the partnership
BMO will retain the Bank of the West Multinational Client Platform team to deliver world-class service to new referrals and continuity for Bank of the West’s international clients.
BMO and BNP Paribas will also create a significant player in the equipment finance space through a trans-Atlantic partnership between BNP Paribas Leasing Solutions and the BMO Vendor Finance division. This collaboration will offer new and existing vendor partners access to end-to-end asset financing services including floorplan financing, point of sale and vendor leasing solutions.
BMO’s other partnerships
In December 2022, BMO partnered with FISPAN to enable BMO Online Banking for Business clients’ direct access to banking from Enterprise Resource Planning (ERP) or accounting system. By integrating payments, reporting and reconciliation with these systems, clients are enabled to perform and manage their business transactions in a more simple and efficient way.
Earlier, in November 2022, BMO partnered with virtual card and spend management platform Extend to add a set of payments functionality to BMO Corporate Cards.Following the already existing Mastercard partnership, North America-based BMO Commercial Bank clients will be enabled to make use of Extend’s mobile and desktop app to create, send, and manage virtual cards for simplified payment and reconciliation processes.
Five Star Bank Expands its Commercial Lending Franchise in Central New York with New Syracuse Office
Located at
Five Star Bank’s
Larry Alampi has over 20 years of banking experience and serves as Commercial and Industrial Banker, assisting companies with their depository and borrowing needs. He previously worked at HSBC, First Niagara andKeyBank , and most recently served as Business Development Manager forCH Insurance . A graduate ofLe Moyne College , he is also a loan committee member of theGreater Syracuse Business Development Corp. Thomas Breed , who has more than 30 years of local banking experience, serves as Commercial and Industrial Banker, assisting companies with all of their depository and borrowing needs. He previously worked forKeyBank , First Niagara,Citizens Bank andJP Morgan Chase Bank and is a graduate ofSyracuse University .Andrew March serves as Commercial Real Estate Banker. The 34-year banking veteran joined Five Star from Solvay Bank and spent the majority of his career in theCentral New York banking space at institutions includingBerkshire Bank , M&T Bank,KeyBank ,Community Bank and more. He is a graduate ofClarkson University .Sara Smith serves as a Senior Portfolio Manager for the team, handling the service needs of commercial clients throughoutCentral New York and beyond. Smith, who previously worked at First Niagara andKeyBank , is a graduate ofSUNY Oswego and the class of 2016 of Leadership Greater Syracuse.
“As part of Five Star Bank’s continued growth and evolution, we’ve expanded beyond our historic rural Upstate New York footprint to serve metros like
Chief Commercial Banking Officer
The
About
For additional information contact:
(585) 584-1549
pakennard@five-starbank.com
media@five-starbank.com
W. Jack Plants II
Chief Financial Officer and Treasurer
(585) 498-2919
wjplants@five-starbank.com
Source:
2023 GlobeNewswire, Inc., source
SYRACUSE, N.Y., Jan. 24, 2023 (GLOBE NEWSWIRE) — Five Star Bank (the “Bank”), a wholly-owned subsidiary of Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), today announced its expansion into the Syracuse market with a new commercial loan production office in the city’s historic Franklin Square.
Located at 115 Solar Street, the new office provides the Bank with entrance into Onondaga County, expanding its Upstate New York footprint to 15 counties throughout Western New York, the Southern Tier and the Finger Lakes region.
Five Star Bank’s Syracuse office will be home to a three-person Commercial and Industrial team led by Central New York Regional President and Commercial and Industrial Executive Alison K. Miller, as well as a Commercial Real Estate Banker who will report to Finger Lakes/Southern Tier Regional President and Commercial Real Estate Executive Craig J. Burton.
- Larry Alampi has over 20 years of banking experience and serves as Commercial and Industrial Banker, assisting companies with their depository and borrowing needs. He previously worked at HSBC, First Niagara and KeyBank, and most recently served as Business Development Manager for CH Insurance. A graduate of Le Moyne College, he is also a loan committee member of the Greater Syracuse Business Development Corp.
- Thomas Breed, who has more than 30 years of local banking experience, serves as Commercial and Industrial Banker, assisting companies with all of their depository and borrowing needs. He previously worked for KeyBank, First Niagara, Citizens Bank and JP Morgan Chase Bank and is a graduate of Syracuse University.
- Andrew March serves as Commercial Real Estate Banker. The 34-year banking veteran joined Five Star from Solvay Bank and spent the majority of his career in the Central New York banking space at institutions including Berkshire Bank, M&T Bank, KeyBank, Community Bank and more. He is a graduate of Clarkson University.
- Sara Smith serves as a Senior Portfolio Manager for the team, handling the service needs of commercial clients throughout Central New York and beyond. Smith, who previously worked at First Niagara and KeyBank, is a graduate of SUNY Oswego and the class of 2016 of Leadership Greater Syracuse.
“As part of Five Star Bank’s continued growth and evolution, we’ve expanded beyond our historic rural Upstate New York footprint to serve metros like Buffalo, Rochester and now Syracuse,” said Five Star Bank President and CEO Martin K. Birmingham. “This expansion supports our focus on driving credit-disciplined loan growth by bringing our style of community banking, with local leadership and local decision-making, to businesses throughout Central New York.”
Chief Commercial Banking Officer Kevin B. Quinn commented, “Alison and her team have done a tremendous job of building relationships throughout the Finger Lakes region from our Auburn branch location. Solidifying our presence in Syracuse with this new commercial office allows us to build on the solid activity we’ve achieved to-date there and support our continued growth and success in this important market.”
The Syracuse office is the second commercial loan production office that Five Star Bank has launched in the past year. In February 2022, the Bank announced the addition of a team of experienced commercial banking officers to launch a commercial platform to serve the Baltimore and Washington, D.C. region.
Five Star Bank worked with Sutton Real Estate Company on the execution of the long-term lease of 2,200 square feet at the Lofts at Franklin. The Bank also partnered with MacKnight Architects and MCK Building Associates, Inc. on design and renovations of the space.
About Financial Institutions, Inc. and Five Star Bank
Financial Institutions, Inc. (Nasdaq: FISI) is an innovative financial holding company with approximately $5.5 billion in assets offering banking, insurance and wealth management products and services through a network of subsidiaries. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through its Western and Central New York branch network and its Mid-Atlantic commercial loan production office serving the Baltimore and Washington, D.C. region. SDN Insurance Agency, LLC provides a broad range of insurance services to personal and business clients, while Courier Capital, LLC and HNP Capital, LLC offer customized investment management, consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com.
For additional information contact:
Pamela A. Kennard
Investor Relations Analyst
(585) 584-1549
pakennard@five-starbank.com
media@five-starbank.com
W. Jack Plants II
Chief Financial Officer and Treasurer
(585) 498-2919
wjplants@five-starbank.com