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First Niagara Buying 57 Branches From PNC
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STEPHEN BERNARD
NEW YORK (AP) — First Niagara Financial Group Inc., parent of First Niagara Bank, said Tuesday it will acquire $4.2 billion in deposits and 57 branches in western Pennsylvania from National City Bank, a unit of PNC Financial Services Group Inc.
First Niagara will pay a deposit premium of 1.3 percent.
The acquisition is Lockport, N.Y.-based First Niagara's first expansion beyond its footprint in upstate New York. ...
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