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First Niagara Financial Group (FNFG) in Buffalo, N.Y., is laying off employees and shutting down branches as it seeks to retool its retail operations.
January 8 -
First Niagara Financial Group (FNFG) in Buffalo, N.Y., is laying off employees and shutting down branches as it seeks to retool its retail operations.
January 8 -
First Niagara Financial Group (FNFG) in Buffalo, N.Y., met quarterly estimates and announced a plan to invest heavily in technological improvements as it moves beyond its recent phase of rapid growth.
January 24 -
First Niagara Financial Group (FNFG) in Buffalo, N.Y., met quarterly estimates and announced a plan to invest heavily in technological improvements as it moves beyond its recent phase of rapid growth.
January 24
First Niagara Financial Group's (FNFG) first-quarter profit fell 11.7% as job cuts and branch closures increased expenses.
Net income at the Buffalo, N.Y., company was $59.4 million, or 15 cents per share, two or cents less than the average estimate of analysts polled by Bloomberg. First Niagara says its earnings per share would have been 17 cents excluding a restructuring charge.
The $38 billion-asset First Niagara in January said it would
Noninterest expenses rose 0.3% to $238.4 million, excluding the charge, in part because of technology and consulting expenses related to First Niagara's
Net interest income, after a provision for credit losses, was little changed at $245.9 million, compared with a year ago. Noninterest income fell 14% to $76.7 million, on lower deposit service charges, insurance commissions, mortgages and capital-markets income.
