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CA-Based Bank Buys Fleet Branch, Plans Midtown Move

NEW YORK CITY-City National Bank will acquire a Fleet Bank branch in Newburgh NY, in order to establish a New York presence. Once the deal closes, the branch will be relocated to Midtown.

By Glen Thompson | Updated on July 30, 2002

NEW YORK CITY-A California-based bank is making its first out-of-state expansion with the acquisition of a Fleet National Bank branch in Newburgh, NY. Later this week, the company will move its operation to Midtown.

City National Corp., parent company of City National Bank, has signed a definitive agreement to acquire Fleet’s Newburgh branch. The deal is expected to close in the fourth quarter of 2002, at which point City National will pick up stakes and move to an upper floor of an as-yet-undisclosed Midtown office property. The purchase price has not been released.

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