305:
502:
657:
27:
601:
company of
Harleysville National Bank also operates East Penn Bank, Millennium Wealth Management and Cornerstone Companies. First Niagara maintained all Harleysville National and East Penn branches, and the Pennsylvania company's growing commercial banking and wealth-management business. Harleysville had over 1,100 employees. The deal was completed on April 9, 2010.
403:
270:. Part of this growth could be attributed to the collapse of the Buffalo-centric banks Goldome and Empire of America. Most of this growth was from the recruitment of new customers, as opposed to the purchase of other firms' assets. Although, in 1998 the bank did purchase the regional insurance brokerage firm
316:
In
September 2007, it was announced that First Niagara was to purchase Great Lakes Bancorp, parent company of Greater Buffalo Savings Bank. The price to purchase the 16 branch bank was $ 153 million. With the nearly $ 900 million of assets of the Great Lakes Bancorp, First Niagara became the fourth
621:
before being re-branded to HSBC Bank USA in the late 1990s. The deal included US$ 15 billion in deposits, US$ 2.8 billion in loans, and US$ 4.3 billion in assets under management. The deal also nearly doubled First
Niagara's branch network to about 450 branches, US$ 38 billion in assets, and US$ 30
600:
237,000,000 or $ 5.50 per share, allowing First
Niagara its first access to the Philadelphia market. The deal provided First Niagara with $ 5.6 billion in assets, including $ 3.6 billion in loans and $ 4.1 billion in deposits in 83 bank branches in nine Eastern Pennsylvania counties. The parent
322:. In April 2009, First Niagara acquired 57 of the 61 of National City branches in Erie and Pittsburgh, Pennsylvania. They were rebranded on Labor Day weekend in 2009. In conjunction with the expansion into Pittsburgh, First Niagara bought the naming rights for a concert venue,
622:
billion in deposits. Pending regulatory approval, the deal will close in early 2012. Investors had complained that HSBC had spread itself too thinly, with roughly 95 million customers and 300,000 employees in 87 markets. As a result of the acquisition, the
579:
from First
Niagara itself, though people using the ATMs may still be charged a foreign ATM fee from their primary financial institution if they charge such fees. The ATM's were later replaced by PNC across Sheetz's footprint.
617:
branch network, including 195 branches for a price of US$ 1 billion. Of these, six branches in New York City suburbs, and six in
Connecticut; most of these branches had been part of Buffalo-based
575:, which doesn't have any bank branches in the region. The ATMs, which officially become First Niagara ATMs at the same time First Niagara took over the former National City branches, will be
340:
of
Connecticut. The stock holders approved the merger in December 2010 and the transaction closed on April 15, 2011. This provided First Niagara with over 340 branches and 500 ATMs.
904:
1320:
695:
1315:
509:
First
Niagara, which had been eyeing an expansion into Pittsburgh for some time, was immediately ranked third in market share at 8%, ahead of the longer-established
1280:
407:
242:. Its parent company, First Niagara Financial Group, Inc. was the 44th-largest bank in the United States with assets of over $ 37.1 billion as of June 30, 2013.
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candidate, the sale to First
Niagara was considered a surprise, considering that PNC was also in negotiations with much larger banks such as
231:
908:
517:
at six and five percent, respectively. First
Niagara retained all National City employees at the acquired branches in the Pittsburgh and
623:
435:
1285:
1295:
593:
727:
1151:
890:
454:
issues in the area. (Even after the sale was completed, PNC retained a market-leading 46% share in the Pittsburgh market, with
1156:
533:
498:. Before the deal was announced, First Niagara was thought to be interested only in the Erie-area National City branches.
705:
541:
785:"Lockport Savings Bank Enters the Insurance Market; Savings Bank Agrees to Acquire Warren-Hoffman & Associates"
395:
and officially took over those branches on September 8 after the signs were changed over from National City during
275:
635:
486:
for the branches. Fifth Third, Huntington, & FNB had existing branches in the market, while JPMorgan Chase's
333:. This created a bank with $ 19.7 billion in assets, 254 branches and approximately $ 13.7 billion in deposits.
309:
123:
626:
required First Niagara to divest itself of 26 branches. First Niagara ended up spinning off 64 branches; 37 to
560:
537:
455:
431:
359:
259:
239:
784:
545:
514:
1179:
553:
392:
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in 1967. In 2000 the bank was rebranded as First Niagara. The bank was based in its former home county,
1074:
1053:
770:
491:
479:
415:
355:
330:
267:
860:
320:
803:"Troy Financial buy makes First Niagara prominent player - 2003-08-18 - The Business Review (Albany)"
631:
597:
568:
447:
388:
348:
953:
806:
618:
522:
419:
384:
151:
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304:
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as a means of entering the insurance business. First Niagara, in 2000, acquired Albion Bancorp of
518:
443:
286:
181:
83:
1092:
526:
263:
129:
1201:
973:
700:
490:& Key were in adjacent territories, and Wells Fargo was in the process of expanding its
471:
337:
298:
294:
290:
282:
937:
450:—PNC and National City were number 1 and 2 in market share, respectively—and had potential
1260:
670:
483:
354:
On October 30, 2015, First Niagara Bank agreed to be acquired by KeyCorp. 18 branches in
747:
501:
26:
576:
463:
37:
1274:
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986:
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411:
235:
55:
45:
821:
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510:
467:
155:
596:
financial services company in an all-stock transaction valued at approximately
1225:
652:
459:
439:
1265:
905:"KeyCorp to sell 18 First Niagara branches to Northwest - Strictly Business"
865:
451:
396:
367:
73:
609:
On July 31, 2011, First Niagara announced it would purchase from UK-based
402:
549:
495:
329:
In April 2010, First Niagara Financial Group acquired Pennsylvania-based
642:
627:
475:
426:
PNC, which had acquired National City in late 2008 with money from the
113:
103:
69:
65:
732:
564:
51:
950:"National City Bank Transition to First Niagara Complete - kdka.com"
540:
was sold to Emclaire Financial Group while the other three (one in
500:
401:
303:
189:
641:
On October 30, 2015, First Niagara Bank agreed to be acquired by
297:. In 2005, First Niagara acquired Hudson River Bank and Trust in
861:"Sabres Announce HSBC Arena Name Change to First Niagara Center"
610:
1248:
446:
to competitors, since the two banks had significant overlap in
343:
On August 25, 2011, First Niagara bought the naming rights for
289:. In 2003, First Niagara acquired the Bank of Finger Lakes in
214:
750:. United States Federal Reserve, National Information Center
1180:"First Niagara completes purchase of Harleysville National"
336:
In August 2010, First Niagara announced its acquisition of
1046:"PNC Sells Branches to First Niagara, Marquette (Update1)"
559:
On August 4, 2009, First Niagara agreed to take over the
974:
http://www.usdoj.gov/opa/documents/branches-divested.pdf
938:
http://kdka.com/business/PNC.First.Niagara.2.978660.html
847:"First Niagara to buy NewAlliance in $ 1.5 billion deal"
822:"First Niagara Agrees to Buy Rival Hudson River Bancorp"
20:
First Niagara Bank, N.A. (First Niagara Financial Group)
820:
Newswires, Yolanda E. McBrideDow Jones (2 April 2004).
293:. In 2004, First Niagara acquired Troy Savings Bank in
588:
On July 27, 2009, First Niagara agreed to acquire the
536:
that PNC had to divest. Of those four, one branch in
308:First Niagara's former headquarters located in the
209:
199:
187:
177:
161:
145:
135:
119:
109:
98:
90:
79:
61:
43:
33:
1152:"First Niagara Bank appealing to college students"
532:First Niagara was outbid for the four branches in
278:to bring the total number of bank branches to 22.
748:"Top 50 holding companies (HCs) as of 06/30/2013"
383:On April 7, 2009, First Niagara agreed to buy 57
16:American bank based in Buffalo, NY, United States
987:"Smaller banks aiming to raise profiles locally"
505:First Niagara branch footprint as of March 2013.
1002:
1000:
605:HSBC deal expands presence in northeastern U.S.
281:In 2002, First Niagara acquired Cayuga Bank of
8:
1321:Defunct companies based in Buffalo, New York
521:areas, and established a regional office in
19:
430:after National City suffered losses in the
317:largest bank in the Buffalo-Niagara region
25:
18:
1316:American companies disestablished in 2016
885:
883:
438:to sell 50 National City branches in the
262:until the 1990s when it spread to nearby
1131:Sabatini, Patricia (September 5, 2009).
494:operations by way of its acquisition of
442:area and 11 more branches in and around
173:Mark Rendulic (Executive Vice President)
696:"First Niagara replaces Koelmel as CEO"
686:
171:Greg Norwood (Chief Financial Officer)
1281:American companies established in 1870
1249:First Niagara Banking official website
1097:: CS1 maint: archived copy as title (
1090:
985:Fitzpatrick, Dan (September 9, 2007).
933:
931:
929:
927:
925:
728:"The World's Largest Public Companies"
169:Joe Saffire (Executive Vice President)
1133:"First Niagara arrives in Western Pa"
1112:Sabatini, Patricia (August 4, 2009).
1007:Sabatini, Patricia (March 21, 2009).
232:Federal Deposit Insurance Corporation
7:
1026:Sabatini, Patricia (April 8, 2009).
272:Warren-Hoffman & Associates Inc.
1150:Jeff Blumenthal (August 14, 2012),
1009:"FNB won't buy National City units"
694:Epstein, Jonathan (19 March 2013).
624:United States Department of Justice
436:United States Department of Justice
252:Farmers and Mechanics' Savings Bank
1306:Defunct banks of the United States
1028:"PNC sells National City branches"
167:Gary M. Crosby (President and CEO)
14:
1182:. American City Business Journals
1178:Blumenthal, Jeff (9 April 2010).
594:Harleysville National Corporation
1114:"First Niagara gets Sheetz ATMs"
771:"Lockport Savings builds empire"
655:
408:Cranberry Township, Pennsylvania
1291:Banks based in New York (state)
1254:First Niagara corporate profile
1052:. April 7, 2009. Archived from
769:Hartley, Tom (April 21, 1997).
458:in a distant second at 13%.) A
548:, including the branch inside
1:
1301:2016 mergers and acquisitions
1157:Philadelphia Business Journal
534:Crawford County, Pennsylvania
285:and Cortland Savings Bank in
1311:Banks disestablished in 2016
347:in Buffalo, renaming it the
236:regional banking corporation
254:and was then re-branded as
1337:
891:"About Key | KeyBank"
428:$ 700 billion bailout plan
406:A First Niagara branch in
250:It was founded in 1870 as
1286:Banks established in 1870
1202:"Branches to be divested"
561:automatic teller machines
124:Larkin Terminal Warehouse
24:
1296:Niagara County, New York
456:Citizens Financial Group
432:subprime mortgage crisis
1226:"Press Release Archive"
1137:Pittsburgh Post-Gazette
1118:Pittsburgh Post-Gazette
1032:Pittsburgh Post-Gazette
1013:Pittsburgh Post-Gazette
991:Pittsburgh Post-Gazette
515:First Commonwealth Bank
488:retail banking division
554:Marquette Savings Bank
506:
434:, was required by the
423:
393:PNC Financial Services
364:Northwest Savings Bank
324:First Niagara Pavilion
313:
195:$ 40.02 billion (2016)
1266:Photos of original HQ
584:Harleysville National
567:locations throughout
504:
480:Huntington Bancshares
416:Pennsylvania Turnpike
405:
331:Harleysville National
307:
256:Lockport Savings Bank
1056:on October 24, 2012.
569:Western Pennsylvania
448:Western Pennsylvania
389:Western Pennsylvania
349:First Niagara Center
266:and its surrounding
826:Wall Street Journal
619:Marine Midland Bank
613:nearly half of its
544:, the other two in
523:Downtown Pittsburgh
418:. This is a former
374:21st century growth
201:Number of employees
137:Number of locations
127:726 Exchange Street
21:
1259:2007-02-15 at the
507:
424:
314:
287:Cortland, New York
228:First Niagara Bank
182:Financial services
84:Lockport, New York
1160:, bizjournals.com
708:on 13 August 2014
611:HSBC Holdings plc
527:11 Stanwix Street
397:Labor Day Weekend
264:Buffalo, New York
240:Buffalo, New York
238:headquartered in
225:
224:
130:Buffalo, New York
1328:
1237:
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1234:
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1222:
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1140:
1128:
1122:
1121:
1109:
1103:
1102:
1096:
1088:
1086:
1085:
1079:
1073:. Archived from
1072:
1064:
1058:
1057:
1042:
1036:
1035:
1023:
1017:
1016:
1004:
995:
994:
982:
976:
971:
965:
964:
962:
961:
952:. Archived from
946:
940:
935:
920:
919:
917:
916:
907:. Archived from
901:
895:
894:
887:
878:
877:
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857:
851:
850:
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837:
836:
834:
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811:
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805:. Archived from
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774:
766:
760:
759:
757:
755:
744:
738:
737:
724:
718:
717:
715:
713:
704:. Archived from
701:The Buffalo News
691:
665:
660:
659:
658:
472:Fifth Third Bank
360:Niagara Counties
338:NewAlliance Bank
299:Hudson, New York
295:Albany, New York
291:Geneva, New York
283:Auburn, New York
221:
218:
216:
192:
29:
22:
1336:
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1331:
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1329:
1327:
1326:
1325:
1271:
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1261:Wayback Machine
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1089:
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1077:
1070:
1068:"Archived copy"
1066:
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721:
711:
709:
693:
692:
688:
684:
671:Bank of Holland
661:
656:
654:
651:
607:
586:
552:) were sold to
484:FNB Corporation
381:
376:
248:
213:
202:
188:
172:
170:
168:
164:
148:
138:
128:
126:
94:October 7, 2016
48:
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12:
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5:
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1243:External links
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996:
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809:on 2004-05-10.
794:
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761:
739:
719:
685:
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679:
678:
673:
667:
666:
650:
647:
636:Five Star Bank
632:Community Bank
606:
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585:
582:
577:surcharge-free
464:JPMorgan Chase
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1080:on 2012-02-22
1076:
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1060:
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1047:
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1038:
1033:
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1022:
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922:
911:on 2016-05-30
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789:Business Wire
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615:HSBC Bank USA
612:
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591:
583:
581:
578:
574:
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566:
563:(ATMs) at 95
562:
557:
555:
551:
547:
543:
542:Conneaut Lake
539:
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469:
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437:
433:
429:
421:
420:National City
417:
414:just off the
413:
412:U.S. Route 19
409:
404:
400:
398:
394:
390:
386:
385:National City
379:National City
378:
373:
371:
369:
365:
362:were sold to
361:
357:
352:
350:
346:
341:
339:
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327:
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217:.firstniagara
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47:
42:
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36:
32:
28:
23:
1229:. Retrieved
1220:
1208:. Retrieved
1196:
1186:19 September
1184:. Retrieved
1173:
1164:September 9,
1162:, retrieved
1155:
1145:
1136:
1126:
1117:
1107:
1082:. Retrieved
1075:the original
1062:
1054:the original
1049:
1040:
1031:
1021:
1012:
990:
980:
969:
958:. Retrieved
954:the original
944:
913:. Retrieved
909:the original
899:
870:. Retrieved
864:
855:
841:
829:. Retrieved
825:
815:
807:the original
797:
788:
779:
764:
754:19 September
752:. Retrieved
742:
731:
722:
710:. Retrieved
706:the original
699:
689:
676:M&T Bank
663:Banks portal
640:
608:
592:-area-based
590:Philadelphia
587:
573:M&T Bank
571:, replacing
558:
531:
508:
492:Eastern U.S.
425:
387:branches in
382:
353:
344:
342:
335:
328:
315:
310:LCo Building
280:
271:
255:
251:
249:
227:
226:
190:Total assets
152:Mid-Atlantic
120:Headquarters
102:Acquired by
86:May 11, 1870
34:Company type
634:, and 8 to
511:Dollar Bank
468:Wells Fargo
268:Erie County
156:New England
147:Area served
1275:Categories
1231:9 February
1210:9 February
1084:2013-10-23
960:2009-09-09
915:2016-06-06
682:References
538:Titusville
460:dark horse
440:Pittsburgh
345:HSBC Arena
312:, Buffalo.
276:Albion, NY
163:Key people
1050:Bloomberg
872:25 August
546:Meadville
452:antitrust
370:reasons.
368:antitrust
234:-insured
110:Successor
74:Insurance
46:Traded as
1257:Archived
1093:cite web
831:22 April
712:20 March
649:See also
630:, 19 to
550:Wal-Mart
496:Wachovia
178:Products
62:Industry
791:. 1998.
643:KeyCorp
628:KeyBank
529:tower.
476:KeyBank
422:branch.
260:Niagara
246:History
210:Website
114:KeyBank
104:KeyBank
91:Defunct
80:Founded
70:Finance
66:Banking
54::
733:Forbes
565:Sheetz
482:, and
410:along
230:was a
205:~5,000
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714:2013
598:US$
519:Erie
513:and
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