The Hudson Valley’s big local banks

Part I

Two of the more recently established brick-and-mortar bank branches in Ulster County sit on either end of the Route 9W commercial stretch in the Town of Ulster. The one on the north end, opened a few months ago by Ulster Savings Bank, is in a modestly sized building at Ulster Commons, directly opposite the state highway from Adams Fairacre Farms. Further south, on the southeast corner where Ulster Avenue splits off from Route 9W to head into Kingston, is the first Ulster County office of The Bank of Greene County, a more commodious space formerly occupied by M&T Bank and leased from it.

Both managers, Jess Davis at The Bank of Greene County and Kristin Bauer at Ulster Savings, are local, Davis living in Ulster and Bauer in Hurley. Both have worked their way up the local banking ladder, Davis working almost eleven years at Bank of America and Bauer the same length of time at Chase. Both are very active in community organizations.

The Federal Deposit Insurance Corporation (FDIC) lists the two banks as similar not only in the amount of local deposits but also in their number of branches (14 each). Both institutions trace their heritage back to the nineteenth century. Both stayed as one-office banks for most of their histories.

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