Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.

SUNY appoints retiring SUNY Oswego President Stanley as interim chancellor
ALBANY, N.Y. — Retiring SUNY Oswego President Deborah Stanley is set for a new education assignment. The SUNY board of trustees on Monday announced it

SUNY Oswego to use Novelis donation for scholarships
OSWEGO, N.Y. — SUNY Oswego will use a $150,000 donation from Novelis to endow two scholarships for students in financial need. Atlanta, Georgia–based Novelis is

People news: ANCA hires new clean energy program director
SARANAC LAKE, N.Y. — The Adirondack North Country Association (ANCA) announced it has hired a new clean energy program director. Jill Henck will lead the

New York egg production drops nearly 2 percent in October
New York farms produced 148.4 million eggs in October, down 1.9 percent from 151.3 million eggs in the year-ago month, the USDA’s National Agricultural Statistics

PSC approves transfer of Scriba, Wayne County power plants to new owner
SCRIBA, N.Y. — The Nine Mile Point and James A. FitzPatrick nuclear-power plants in Scriba will soon have a new owner. The New York State

Syracuse athletics to end food, alcohol sales at Dome due to COVID
SYRACUSE, N.Y. — If you plan to attend a basketball game at the Carrier Dome soon, you can forget about getting a beer and a

Syracuse University, NYS to expand COVID-19 surveillance in wastewater
SYRACUSE, N.Y. — Syracuse University and the New York State Department of Health are partnering on an effort to study wastewater for COVID-19. Wastewater surveillance

KeyBank acquires payments company
KeyBank National Association last month announced that it has acquired XUP Payments, a B2B-focused digital-payments platform. KeyBank, a unit of Cleveland, Ohio–based KeyCorp, ranks No. 2 in deposit market share in the 16-county Central New York region. The bank says Charlotte, N.C.–based XUP’s technology “enables simple, intuitive, client onboarding and servicing experiences.” XUP has integrated
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KeyBank National Association last month announced that it has acquired XUP Payments, a B2B-focused digital-payments platform.
KeyBank, a unit of Cleveland, Ohio–based KeyCorp, ranks No. 2 in deposit market share in the 16-county Central New York region.
The bank says Charlotte, N.C.–based XUP’s technology “enables simple, intuitive, client onboarding and servicing experiences.” XUP has integrated its technology with processors, 3rd-party risk tools, customer-relationship management systems, and other fintech services.
Key says it was an early investor in XUP and notes that this acquisition follows a partnership between the two companies that “transformed” Key’s merchant payments capabilities.
KeyBank did not disclose any transaction terms in its Nov. 22 acquisition announcement.
The bank plans to leverage XUP Payments’ technology to enhance the experience across its commercial product line and advance Key’s broader “embedded banking strategy.” The acquisition is the latest in a series of Key alliances with fintech companies to offer improved payments and banking services to bank clients.
Earlier this year, Key acquired AQN Strategies to enhance its data-analytics capabilities, and in 2019, it purchased Laurel Road’s digital student-loan refinance platform. Previously, Key formed strategic partnerships with AvidXchange, BillTrust, and Bill.com among others, to boost its fintech offerings for clients and prospects.
“We’ve long embraced the software innovation that’s sweeping through the financial services industry, and the acquisition of XUP allows us to continue to be a leader in this space,” Ken Gavrity, head of enterprise payments & analytics at KeyBank, contended in a release. “XUP’s highly experienced team has accelerated us on the journey to build connectivity across our systems, our partners, and our customers, to make it easy to do business with Key.”
KeyBank’s roots trace back nearly 200 years to Albany. It has a network of about 1,000 branches and 1,300 ATMs in 15 states.

Arctic Bear Heating, Plumbing, Air & Water Treatment moves to Vestal
VESTAL, N.Y. — Arctic Bear Heating, Plumbing, Air & Water Treatment recently moved its headquarters to Vestal after outgrowing its previous space in the town of Union. Arctic Bear is now located in a 6,500-square-foot space at 612 Vestal Pkwy W., which was previously used for a marble distribution facility and then stood vacant for
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VESTAL, N.Y. — Arctic Bear Heating, Plumbing, Air & Water Treatment recently moved its headquarters to Vestal after outgrowing its previous space in the town of Union.
Arctic Bear is now located in a 6,500-square-foot space at 612 Vestal Pkwy W., which was previously used for a marble distribution facility and then stood vacant for several years.
As the business continues to grow and to serve more of Broome County’s residents, the new, larger location will allow for continued expansion and the offering of additional services, Arctic Bear said in a news release.
The company had previously occupied 1,000 square feet at the address of 213 S. Kelly Ave., Endicott (town of Union).
Arctic Bear and the Greater Binghamton Chamber of Commerce held a ribbon cutting on Dec. 15 to “break in the new location, and to highlight the opportunity for small businesses to continue expanding in Broome County,” per the release.
Arctic Bear offers heating, cooling, water treatment, and plumbing services to the Greater Binghamton area and beyond.

M&T Bank to pay increased quarterly dividend for Q4 on Dec. 31
M&T Bank Corporation (NYSE: MTB) recently announced that it has declared a quarterly cash dividend of $1.20 per share on its common stock for the fourth quarter. The dividend is up 10 cents, or 9 percent, from the $1.10 per share that the banking company paid shareholders in the third quarter. M&T Bank will pay
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M&T Bank Corporation (NYSE: MTB) recently announced that it has declared a quarterly cash dividend of $1.20 per share on its common stock for the fourth quarter.
The dividend is up 10 cents, or 9 percent, from the $1.10 per share that the banking company paid shareholders in the third quarter.
M&T Bank will pay the new dividend on Dec. 31, to shareholders of record at the close of business on Nov. 30.
M&T Bank Corp. is a financial-holding company headquartered in Buffalo. Its main banking subsidiary, M&T Bank, operates branches in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia, and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.
M&T Bank has about 45 branches and employs about 450 people in its Central New York region, which covers Onondaga, Cayuga, Seneca, Oswego, Jefferson, Lewis, Madison, Oneida, and Herkimer counties. Its regional headquarters is located at 250 South Clinton St. in downtown Syracuse.
Stay up-to-date on the companies, people and issues that impact businesses in Syracuse, Central New York and beyond.