Bailout Bank Bio: Alliance Financial

Jan 7, 2009 | 2 min read | Print Article

Update

The company recently announced that it had re-purchased its preferred stock from the Treasury Department. Alliance paid $27.2 million to reclaim the stock. The repurchase amount includes accumulated interest and dividends.
Updated 6-5-09

Alliance Financial Corporation is a financial holding company of Alliance Bank, which provides financial services from 29 customer service facilities in the New York counties of Cortland, Madison, Oneida, Onondaga, Oswego, and from a Trust Administration Center in Buffalo, New York. The company is based in Syracuse, New York. Alliance Financial received $26.9 million from the Treasury Department through its Capital Purchase Program, in exchange for senior preferred stock and related warrants, on December 16, 2009. The company returned the funds in full on May 13, 2009.

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Bailout Bank Bio: Alliance Financial


Federal Equity Investment	$26.9 million
Total Revenue	$92.34 million
Net Income	$9.48 million
Number of Employees	335
Corporate Headquarters	Syracuse, New York
Business Sector	Financial
Officers and Directors	Jack H. Webb, Chairman of the Board, Chief Executive Officer J. Daniel Mohr, Chief Financial Officer, Treasurer John H. Watt Jr., Executive Vice President, Director Donald H. Dew, Director Charles E. Shafer, Director Charles H. Spaulding, Director Donald S. Ames, Director Samuel J. Lanzafame, Director
Corporate Website	http://www.alliancefinancialcorporation.com
Executive Compensation	Alliance Financial Corporation