316:
513:
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38:
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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.
414:
281:. 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
327:
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
632:
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
611:
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
333:. 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,
633:
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
590:
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.
628:
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
586:, 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
351:
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.
915:
1331:
706:
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520:
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
1291:
418:
253:. 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.
438:
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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
242:
919:
528:
at six and five percent, respectively. First
Niagara retained all National City employees at the acquired branches in the Pittsburgh and
634:
446:
1296:
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604:
738:
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901:
465:
issues in the area. (Even after the sale was completed, PNC retained a market-leading 46% share in the Pittsburgh market, with
1167:
544:
509:. Before the deal was announced, First Niagara was thought to be interested only in the Erie-area National City branches.
716:
552:
796:"Lockport Savings Bank Enters the Insurance Market; Savings Bank Agrees to Acquire Warren-Hoffman & Associates"
406:
and officially took over those branches on September 8 after the signs were changed over from National City during
286:
646:
497:
for the branches. Fifth Third, Huntington, & FNB had existing branches in the market, while JPMorgan Chase's
344:. This created a bank with $ 19.7 billion in assets, 254 branches and approximately $ 13.7 billion in deposits.
320:
134:
637:
required First Niagara to divest itself of 26 branches. First Niagara ended up spinning off 64 branches; 37 to
571:
548:
466:
442:
370:
270:
250:
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525:
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564:
403:
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in 1967. In 2000 the bank was rebranded as First Niagara. The bank was based in its former home county,
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490:
426:
366:
341:
278:
871:
331:
814:"Troy Financial buy makes First Niagara prominent player - 2003-08-18 - The Business Review (Albany)"
642:
608:
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458:
399:
359:
964:
817:
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533:
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as a means of entering the insurance business. First Niagara, in 2000, acquired Albion Bancorp of
529:
454:
297:
192:
94:
1103:
537:
274:
140:
1212:
17:
984:
711:
501:& Key were in adjacent territories, and Wells Fargo was in the process of expanding its
482:
348:
309:
305:
301:
293:
948:
461:—PNC and National City were number 1 and 2 in market share, respectively—and had potential
1271:
681:
494:
365:
On October 30, 2015, First Niagara Bank agreed to be acquired by KeyCorp. 18 branches in
758:
512:
37:
587:
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48:
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financial services company in an all-stock transaction valued at approximately
1236:
663:
470:
450:
1276:
916:"KeyCorp to sell 18 First Niagara branches to Northwest - Strictly Business"
876:
462:
407:
378:
84:
620:
On July 31, 2011, First Niagara announced it would purchase from UK-based
413:
560:
506:
340:
In April 2010, First Niagara Financial Group acquired Pennsylvania-based
653:
638:
486:
437:
PNC, which had acquired National City in late 2008 with money from the
124:
114:
80:
76:
743:
575:
62:
961:"National City Bank Transition to First Niagara Complete - kdka.com"
551:
was sold to Emclaire Financial Group while the other three (one in
511:
412:
314:
200:
652:
On October 30, 2015, First Niagara Bank agreed to be acquired by
308:. In 2005, First Niagara acquired Hudson River Bank and Trust in
872:"Sabres Announce HSBC Arena Name Change to First Niagara Center"
621:
1259:
457:
to competitors, since the two banks had significant overlap in
354:
On August 25, 2011, First Niagara bought the naming rights for
300:. In 2003, First Niagara acquired the Bank of Finger Lakes in
225:
761:. United States Federal Reserve, National Information Center
1191:"First Niagara completes purchase of Harleysville National"
347:
In August 2010, First Niagara announced its acquisition of
1057:"PNC Sells Branches to First Niagara, Marquette (Update1)"
570:
On August 4, 2009, First Niagara agreed to take over the
985:
http://www.usdoj.gov/opa/documents/branches-divested.pdf
949:
http://kdka.com/business/PNC.First.Niagara.2.978660.html
858:"First Niagara to buy NewAlliance in $ 1.5 billion deal"
833:"First Niagara Agrees to Buy Rival Hudson River Bancorp"
31:
First Niagara Bank, N.A. (First Niagara Financial Group)
831:
Newswires, Yolanda E. McBrideDow Jones (2 April 2004).
304:. In 2004, First Niagara acquired Troy Savings Bank in
599:
On July 27, 2009, First Niagara agreed to acquire the
547:
that PNC had to divest. Of those four, one branch in
319:First Niagara's former headquarters located in the
220:
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198:
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146:
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109:
101:
90:
72:
54:
44:
1163:"First Niagara Bank appealing to college students"
543:First Niagara was outbid for the four branches in
289:to bring the total number of bank branches to 22.
759:"Top 50 holding companies (HCs) as of 06/30/2013"
394:On April 7, 2009, First Niagara agreed to buy 57
27:American bank based in Buffalo, NY, United States
998:"Smaller banks aiming to raise profiles locally"
516:First Niagara branch footprint as of March 2013.
1013:
1011:
616:HSBC deal expands presence in northeastern U.S.
292:In 2002, First Niagara acquired Cayuga Bank of
8:
1332:Defunct companies based in Buffalo, New York
532:areas, and established a regional office in
30:
441:after National City suffered losses in the
328:largest bank in the Buffalo-Niagara region
36:
29:
1327:American companies disestablished in 2016
896:
894:
449:to sell 50 National City branches in the
273:until the 1990s when it spread to nearby
1142:Sabatini, Patricia (September 5, 2009).
505:operations by way of its acquisition of
453:area and 11 more branches in and around
184:Mark Rendulic (Executive Vice President)
707:"First Niagara replaces Koelmel as CEO"
697:
182:Greg Norwood (Chief Financial Officer)
1292:American companies established in 1870
1260:First Niagara Banking official website
1108:: CS1 maint: archived copy as title (
1101:
996:Fitzpatrick, Dan (September 9, 2007).
944:
942:
940:
938:
936:
739:"The World's Largest Public Companies"
180:Joe Saffire (Executive Vice President)
1144:"First Niagara arrives in Western Pa"
1123:Sabatini, Patricia (August 4, 2009).
1018:Sabatini, Patricia (March 21, 2009).
243:Federal Deposit Insurance Corporation
7:
1037:Sabatini, Patricia (April 8, 2009).
283:Warren-Hoffman & Associates Inc.
1161:Jeff Blumenthal (August 14, 2012),
1020:"FNB won't buy National City units"
705:Epstein, Jonathan (19 March 2013).
635:United States Department of Justice
447:United States Department of Justice
263:Farmers and Mechanics' Savings Bank
1317:Defunct banks of the United States
1039:"PNC sells National City branches"
178:Gary M. Crosby (President and CEO)
25:
1193:. American City Business Journals
1189:Blumenthal, Jeff (9 April 2010).
605:Harleysville National Corporation
1125:"First Niagara gets Sheetz ATMs"
782:"Lockport Savings builds empire"
666:
419:Cranberry Township, Pennsylvania
1302:Banks based in New York (state)
1265:First Niagara corporate profile
1063:. April 7, 2009. Archived from
780:Hartley, Tom (April 21, 1997).
469:in a distant second at 13%.) A
559:, including the branch inside
1:
1312:2016 mergers and acquisitions
1168:Philadelphia Business Journal
545:Crawford County, Pennsylvania
296:and Cortland Savings Bank in
18:First Niagara Financial Group
1322:Banks disestablished in 2016
358:in Buffalo, renaming it the
247:regional banking corporation
265:and was then re-branded as
1348:
902:"About Key | KeyBank"
439:$ 700 billion bailout plan
417:A First Niagara branch in
261:It was founded in 1870 as
1297:Banks established in 1870
1213:"Branches to be divested"
572:automatic teller machines
135:Larkin Terminal Warehouse
35:
1307:Niagara County, New York
467:Citizens Financial Group
443:subprime mortgage crisis
1237:"Press Release Archive"
1148:Pittsburgh Post-Gazette
1129:Pittsburgh Post-Gazette
1043:Pittsburgh Post-Gazette
1024:Pittsburgh Post-Gazette
1002:Pittsburgh Post-Gazette
526:First Commonwealth Bank
499:retail banking division
565:Marquette Savings Bank
517:
445:, was required by the
434:
404:PNC Financial Services
375:Northwest Savings Bank
335:First Niagara Pavilion
324:
206:$ 40.02 billion (2016)
1277:Photos of original HQ
595:Harleysville National
578:locations throughout
515:
491:Huntington Bancshares
427:Pennsylvania Turnpike
416:
342:Harleysville National
318:
267:Lockport Savings Bank
1067:on October 24, 2012.
580:Western Pennsylvania
459:Western Pennsylvania
400:Western Pennsylvania
360:First Niagara Center
277:and its surrounding
837:Wall Street Journal
630:Marine Midland Bank
624:nearly half of its
555:, the other two in
534:Downtown Pittsburgh
429:. This is a former
385:21st century growth
212:Number of employees
148:Number of locations
138:726 Exchange Street
32:
1270:2007-02-15 at the
518:
435:
325:
298:Cortland, New York
239:First Niagara Bank
193:Financial services
95:Lockport, New York
1171:, bizjournals.com
719:on 13 August 2014
622:HSBC Holdings plc
538:11 Stanwix Street
408:Labor Day Weekend
275:Buffalo, New York
251:Buffalo, New York
249:headquartered in
236:
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141:Buffalo, New York
16:(Redirected from
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1084:. Archived from
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748:
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724:
715:. Archived from
712:The Buffalo News
702:
676:
671:
670:
669:
483:Fifth Third Bank
371:Niagara Counties
349:NewAlliance Bank
310:Hudson, New York
306:Albany, New York
302:Geneva, New York
294:Auburn, New York
232:
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40:
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21:
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1079:"Archived copy"
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682:Bank of Holland
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563:) were sold to
495:FNB Corporation
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647:Five Star Bank
643:Community Bank
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475:JPMorgan Chase
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574:(ATMs) at 95
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431:National City
428:
425:just off the
424:
423:U.S. Route 19
420:
415:
411:
409:
405:
401:
397:
396:National City
390:National City
389:
384:
382:
380:
376:
373:were sold to
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228:.firstniagara
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19:
1240:. Retrieved
1231:
1219:. Retrieved
1207:
1197:19 September
1195:. Retrieved
1184:
1175:September 9,
1173:, retrieved
1166:
1156:
1147:
1137:
1128:
1118:
1093:. Retrieved
1086:the original
1073:
1065:the original
1060:
1051:
1042:
1032:
1023:
1001:
991:
980:
969:. Retrieved
965:the original
955:
924:. Retrieved
920:the original
910:
881:. Retrieved
875:
866:
852:
840:. Retrieved
836:
826:
818:the original
808:
799:
790:
775:
765:19 September
763:. Retrieved
753:
742:
733:
721:. Retrieved
717:the original
710:
700:
687:M&T Bank
674:Banks portal
651:
619:
603:-area-based
601:Philadelphia
598:
584:M&T Bank
582:, replacing
569:
542:
519:
503:Eastern U.S.
436:
398:branches in
393:
364:
355:
353:
346:
339:
326:
321:LCo Building
291:
282:
266:
262:
260:
238:
237:
201:Total assets
163:Mid-Atlantic
131:Headquarters
113:Acquired by
97:May 11, 1870
45:Company type
645:, and 8 to
522:Dollar Bank
479:Wells Fargo
279:Erie County
167:New England
158:Area served
1286:Categories
1242:9 February
1221:9 February
1095:2013-10-23
971:2009-09-09
926:2016-06-06
693:References
549:Titusville
471:dark horse
451:Pittsburgh
356:HSBC Arena
323:, Buffalo.
287:Albion, NY
174:Key people
1061:Bloomberg
883:25 August
557:Meadville
463:antitrust
381:reasons.
379:antitrust
245:-insured
121:Successor
85:Insurance
57:Traded as
1268:Archived
1104:cite web
842:22 April
723:20 March
660:See also
641:, 19 to
561:Wal-Mart
507:Wachovia
189:Products
73:Industry
802:. 1998.
654:KeyCorp
639:KeyBank
540:tower.
487:KeyBank
433:branch.
271:Niagara
257:History
221:Website
125:KeyBank
115:KeyBank
102:Defunct
91:Founded
81:Finance
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493:, and
421:along
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216:~5,000
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1199:2013
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885:2011
877:WBEN
844:2019
767:2013
725:2013
609:US$
530:Erie
524:and
455:Erie
377:for
369:and
367:Erie
230:.com
152:~390
110:Fate
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