Question 1

What is Genesee Regional Bank?

Accepted Answer

Genesee Regional Bank (GRB) is Rochester, New York's premier community bank, serving the Greater Rochester and Central New York regions with approximately $1.3 billion in total assets. The bank specializes in commercial and business lending, residential mortgages, and personalized financial services for small to medium-sized businesses and individuals.

As the only community bank headquartered in Monroe County, GRB has established itself as a vital partner in the region's economic development, combining local decision-making with sophisticated banking capabilities. The bank operates three full-service branches throughout the Rochester metropolitan area.

Question 2

When was Genesee Regional Bank founded?

Accepted Answer

Genesee Regional Bank was founded in 1996 by local attorney Dan Gullace and entrepreneur E. Philip Saunders, who purchased the assets of Lyndon Guaranty Bank of New York. The bank was created with an absolute commitment to "Growing Rochester Together," specifically designed to support the unique banking needs of start-ups and growth companies during Rochester's economic transformation.

In the 1990s, as Rochester's largest corporations declined, the community worked to reimagine itself through entrepreneurial ventures and small businesses. Saunders, a lifelong businessman, recognized that these innovative companies needed financial services built on personal service and in-depth knowledge. GRB opened with $33 million in assets and a mission to support the small business community.

The bank celebrated its 25th anniversary in 2021, marking a quarter-century of continuous service to the Rochester community and achieving the billion-dollar asset threshold in 2022.

Question 3

Where is Genesee Regional Bank headquartered?

Accepted Answer

Genesee Regional Bank is headquartered at 919 Winton Road South in Rochester, New York, in the Monroe County area. The bank moved its corporate offices to the Linden Oaks office park in 2007, establishing a modern operational center to support its growing customer base.

The headquarters location in Rochester reflects the bank's unwavering commitment to remaining locally owned and operated, with all major decisions made in the community it serves.

Question 4

Where does Genesee Regional Bank operate?

Accepted Answer

Genesee Regional Bank operates throughout the Greater Rochester and Central New York regions through three full-service branches and specialized lending centers:

Branch Locations: The bank maintains offices in Pittsford (1835 Monroe Avenue), Greece (1450 Long Pond Road), and Irondequoit (1228 E. Ridge Road), strategically positioned to serve the eastern, western, and northern suburbs of Rochester.

Specialized Centers: GRB operates a dedicated Residential Mortgage Center at 1850 South Winton Road, Suite 200, providing expert mortgage solutions and guidance to homebuyers throughout the region.

Service Area: While physically located in the Rochester metropolitan area (Rochester, NY CBSA), the bank's lending activities and services extend throughout Monroe County and surrounding Central New York communities.

All locations offer modern banking amenities including 24/7 ATM access and night depository services for business customers.

Question 5

What services does Genesee Regional Bank offer?

Accepted Answer

Genesee Regional Bank provides comprehensive banking services tailored to businesses and individuals:

Commercial Banking: Business loans, commercial real estate financing, lines of credit, and working capital solutions with local decision-making and rapid response times.

SBA Lending: As the No. 1 Small Business Administration lender in Rochester in both 2020 and 2021, GRB specializes in SBA 7(a) and 504 loans, providing crucial financing for small business growth, equipment purchases, and real estate acquisition.

Residential Mortgages: Full-service mortgage lending with expertise in home purchases and refinancing, surpassing $450 million in mortgage originations. The dedicated Mortgage Center provides personalized guidance throughout the home-buying process.

Personal Banking: Checking accounts, savings accounts, certificates of deposit, and personal loans designed to meet individual and family financial needs.

Treasury Management: Cash management services, merchant services, and business checking solutions to streamline operations for commercial clients.

Digital Banking: Comprehensive online and mobile banking platforms enabling 24/7 account access, bill pay, mobile deposits, and transaction management from anywhere.

Paycheck Protection Program: During the COVID-19 pandemic, GRB processed over $205 million in PPP loans, including significant assistance to businesses unable to access PPP loans from their existing banks, demonstrating the bank's commitment to community support during crisis periods.

Question 6

What makes Genesee Regional Bank unique?

Accepted Answer

Genesee Regional Bank stands out through several distinctive characteristics:

Rochester's Only Community Bank: As the only community bank headquartered in Monroe County, GRB offers local decision-making and personalized service that national and regional banks cannot match. Over 25 years, many financial institutions have come and gone, but GRB remains committed to Rochester.

Small Business Champion: Consistently ranked as the top SBA lender in Rochester, GRB has facilitated millions of dollars in small business financing, directly contributing to job creation and economic diversification in the region.

Award-Winning Workplace: Recognized for the eighth time as one of the "Best Companies to Work for in New York" in 2023, and repeatedly honored on the Rochester Top 100 list, demonstrating exceptional corporate culture and employee satisfaction among its 181 team members.

Community Investment: Employees dedicate thousands of volunteer hours annually, and the bank actively supports local service providers, charitable organizations, and community initiatives. GRB works with local vendors for day-to-day operations, keeping dollars circulating in the Rochester economy.

Financial Strength: Record earnings in 2023, strong capital position, and prudent lending practices demonstrated by successfully navigating the 2008 financial crisis when many institutions failed, while continuing to lend and support clients.

Entrepreneurial Spirit: Founded to support innovation and growth companies, GRB understands the needs of entrepreneurs and provides flexible financing solutions with the agility small businesses need to thrive.

Local Leadership: Philip L. Pecora, who joined as manager of commercial banking in 2003 and became President and CEO shortly after, leads the bank with deep Rochester ties. E. Philip Saunders continues as Founder and Board Chairman, ensuring continuity of the founding vision.

Question 7

What type of financial institution is Genesee Regional Bank?

Accepted Answer

Genesee Regional Bank is a State Member Bank—a commercial bank with a state charter (converted from a national charter in 2006) that is a member of the Federal Reserve System. The bank is regulated by the Federal Reserve Board and carries FDIC Certificate Number 26333.

As a true community bank, GRB exemplifies the community banking model with local ownership, local decision-making, and deep commitment to the economic prosperity of Rochester and Central New York. The bank's commercial lending specialization reflects its strategic focus on supporting business growth and entrepreneurship in the region.

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