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First Niagara Buying 57 Branches From PNC

Stock quotes in this article: CTBK  

LOCKPORT, N.Y. (AP) — First Niagara Financial Group is acquiring $4.2 billion in deposits and 57 branches from National City Bank, a unit of PNC Financial Services Group.

First Niagara will pay a deposit premium of 1.3 percent.

Pittsburgh-based PNC Financial was forced to sell the branches in western Pennsylvania as part of an agreement with regulators when it acquired National City last fall. ...

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