The future is uncertain for one of the most prominent buildings in the Village of Wellsville.
Friday, Sept. 12 is the final day of business for Community Bank at 113 N. Main St. in Allegany County’s largest village.
The branch will close for good at 3 p.m.
The bank informed customers in May that it intended to close its long-time location in the downtown business district and consolidate its services into Community Bank’s other Wellsville building at 475 N. Highland Ave.
The storied Main Street structure has been a bank for its entire existence, serving several generations of Wellsville-area residents.
The decision to close the branch was made “after a thorough assessment of how we can best serve our customers and optimize our branch network to adapt to changing banking needs,” Chief Banking Officer Jeffrey Levy explained in a letter to customers.
Community Bank has not announced its plans for the building, which it owns.
Mayor Randy Shayler, who is coincidentally leaving office the same day the branch closes, said, “Community Bank has indicated they will do whatever they can to be partners with the village government,” but no details have been discussed.
“They could lease it to someone, rent it to someone, sell it to someone, donate it to someone. They have ownership so they can do pretty much what they want to,” Shayler said.
Community Bank did not respond to requests for comment.
The Wellsville property sits on .65 acres of downtown real estate and has a total assessment of $828,900, according to Allegany County records.
Community Bank closing Belfast branch as well after Sept. 12
Sept. 12 is also the end of the line for another Community Bank branch in Allegany County. The bank is closing its office at 50 S. Main St. in Belfast and consolidating with the bank’s branch at 44 W. Main St. in Fillmore.
Belfast native Joe Curcio, a developer who has bought and rehabbed several properties on the town’s Main Street, said he has encouraged Community Bank to maintain its Belfast services, but to no avail.
Curcio said he is interested in acquiring the building, but he cautioned that it is too early to say if that will come about.
Community Bank acquired both the Wellsville and Belfast properties from Fleet Bank in 2001.
Community Bank is the primary banking institution in Allegany County after it agreed to acquire Steuben Trust Company in 2019. Following several branch closures around the county, it continues to maintain offices in Wellsville, Alfred, Belmont, Bolivar, Cuba and Fillmore.
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This article originally appeared on The Evening Tribune: Community Bank ends an era in downtown Wellsville, Belfast Sept. 12. What’s next?
Reporting by Neal Simon, Hornell Evening Tribune / The Evening Tribune
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