First Niagara Completes National City Deal
LOCKPORT, N.Y. (AP) First Niagara Financial Group Inc. said Tuesday it has completed its purchase of a set of National City branches in western Pennsylvania.
The deal gives First Niagara 57 new branches, another $3.9 billion in deposits and $757 million in existing loans. The branches are in or near Pittsburgh, Warren and Erie, Pa. Additionally, National City bought $150 million in 12 percent senior notes due Sept. 10, 2014, from First Niagara. National City Bank is a subsidiary of the PNC Financial Services Group Inc. PNC shares added 14 cents to $40.60 in morning trading. First Niagara shares rose 18 cents to $12.71 in morning trading.- Loading Comments...
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