First Niagara Bank is a regional bank that serves mid-Atlantic area. The bank offers banking products, services and expertise. First Niagara Bank was founded in1870 and now it has 340 Branches and 500 ATMs. The bank is based in Buffalo, N.Y.
Recent news, First Niagara Bank long-term investment-grade ratings has been cuted by Moody's Investors Service. The outlook reflects First Niagara's solid track record of acquiring and integrating banks and its significant capital position, said Moody's. The downgrade also reflects the risks associated with possibly more acquisitions in the near future.
First Niagara's shares dropped 36 cents, or 2.6 percent, to $13.64 in afternoon trading. But, the bank said in August that it planned to buy NewAlliance for $14.09 per share. The deal, valued at $1.15 billion, was funded with cash and stock. The deal will result in substantial loan growth and higher risk of defaults.
As a regional bank, First Niagara has specialized expertise in retail and commercial banking, international banking solutions, capital markets, wealth management, risk management and insurance. So far, the bank always tries to satisfy its costumers. For more information about First Niagara services and products, visit its website at www.fnfg.com. You’ll get useful information about this bank at the site.
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