First Niagara Successfully Completes Conversion of HSBC Branches
BUFFALO, N.Y., May 21, 2012 (GLOBE NEWSWIRE) -- First Niagara Bank N.A.'s conversion of Upstate New York and Connecticut branches from HSBC Bank USA, N.A. was successfully completed over the weekend. This morning more than 100 former HSBC branches opened as First Niagara locations, adding $9.8 billion of deposits and $1.6 billion of performing loans. First Niagara also welcomed more than 1,200 new team members across New York and Connecticut.
"I am incredibly proud of the work our entire team did to prepare for and then complete a very smooth transition over the weekend. This is an unprecedented accomplishment, with everyone working around the clock to make it happen," said John R. Koelmel, First Niagara President and Chief Executive Officer. "We're thrilled to welcome our new customers and now be able to provide them with the same best-in-class service that so many across our footprint have been receiving from us."
"Our people and their passionate focus on the customer are what make First Niagara such a special company," said Mark Rendulic, Executive Vice President, Retail Banking. "With extended call center hours, a dedicated website, and our now expanded branch network, our team is committed to expediting the transition for our new customers so that we can focus on meeting their financial needs and making good things happen."
Customers with any questions about the transition of their accounts are encouraged to call the bank's Customer Contact Center at 1-800-421-0004, visit www.welcometofirstniagara.com or simply stop by any First Niagara branch and ask to speak to a team member during business hours.
Please visit www.firstniagara.com for a map of the First Niagara branch network.
About First Niagara
First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with nearly 430 branches, approximately $38 billion in assets, $29 billion in deposits, and approximately 6,000 employees providing financial services to individuals, families and businesses across Upstate New York, Pennsylvania, Connecticut and Massachusetts. For more information, visit www.firstniagara.com .
Certain statements in this document are "forwardlooking statements" within the meaning of the Private Securities Litigation Reform Act. Words such as "believe," "estimate," "will be," "will," "would," "expect," "anticipate," "plan," "project," "intend," "could," "should" or other similar words or expressions often identify forward-looking statements. Such statements are based on current expectations only, and are subject to certain risks, uncertainties and assumptions, many of which are beyond our control. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, including risks, assumptions and uncertainties relating to the acquired branches, completion of the transaction, regulatory approvals for the transaction, integration of the acquired branches and related operations and any required or planned divestitures and the related process, actual results, performance or achievements may vary materially from those anticipated, estimated or projected. More information about the factors that could cause actual results to materially differ is contained in our filings with the Securities and Exchange Commission. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: First Niagara Contacts Investors: Ram Shankar Senior Vice President, Investor Relations (716) 270-8623 firstname.lastname@example.org News Media: David Lanzillo Senior Vice President, Corporate Communications (716) 819-5780 email@example.comSource: First Niagara Financial Group, Inc. 2012 GlobeNewswire, Inc.