Putnam County Savings Bank Completes Purchase Of CMS Bank

The purchase was anticipated to be approximately $25.4 million, according to a previous Daily Voice article.

“PCSB is pleased to announce the completion of its merger with CMS and welcomes CMS’s customers and employees to the PCSB family,” Joseph Roberto, chairman, president, and CEO of Putnam County Savings Bank, said in a press release. “The increased branch network will allow us to expand our ‘True Local. True Banking’ way of personalized service, the cornerstone of our business philosophy, to a much broader customer base.”

With the merger, Putnam County Savings Bank owns 15 financial centers throughout the lower Hudson Valley and approximately $1.3 billion in assets, according to Roberto.

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