First Niagara/HSBC branch consolidation includes branch at Troy Music Hall

troy savings bank music hall

It's a bank. It's a music hall. It's currently both. And at the very least, will be a music hall going forward.

First Niagara has announced which bank branches it will be eliminating as part of its purchase of HSBC's upstate New York branches, first announced last August.

The bank is consolidating ten branches in the Capital Region's core counties -- split evenly between current HSBC locations and current First Niagra locations. In many cases, the branches are almost right next to each other. The list is after the jump.

On the consolidation list: the First Niagara branch in the bottom of the Troy Savings Bank Music Hall building. So, what's that mean for the music hall?

It turns out the building is a condo. And the music hall, specifically the Troy Savings Bank Foundation, owns the concert hall part of the building -- and the bank owns the bank branch portion.

"The music hall will continue to present performances, as in the past. We're booking for next year," said Leslie Cheu, the executive director of the Troy Savings Bank Foundation when we talked with her this afternoon. And Jon Elbaum, the music hall's executive director, told us the branch consolidation "doesn't change our plans at all."

Like any other condo, the owners do share the costs of maintaining common areas. And, of course, you'd always like to know who's going to be your neighbor. Cheu says the foundation doesn't have much information about what the bank plans to do with its part of the building. We have a request in with First Niagara -- when we hear back, we'll update. As the Times Union pointed out today, the building has contained a bank for more than 140 years.

First Niagara acquired the branch in the music hall building when it bought the Troy Financial Corporation in January 2004. The music hall opened in 1870 when the Troy Savings Bank built a new headquarters at the location. As the music hall's website notes: "To demonstrate the Bank's appreciation for the many years of patronage by the local citizens, the plans for the new building included a music hall on the upper floor."

Branches being consolidated

List and distances from First Niagara.

First Niagara HSBC Branch Consolidation 2.17.12

The Troy Music Hall advertises on AOA.


The Troy Savings Bank originally proposed to share space with what would have been Troy's first real city hall -- but, weirdly for Troy, the decision on a City Hall took too much time and the bank decided to move ahead:

And they've shared the space before: The Troy Savings Bank Music Hall's basement was once rented out to the Troy Bicycle Club:

It occurs to me that there are some quite lovely murals depicting bucolic early Troy inside . . . .it would be a shame to lose them. I hope someone at least documents them well.

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