Seeking Alpha

KeyCorp (KEY -1.2%) scoops up 37 branches in northern New York, with $2.4B in deposits, for a...

KeyCorp (KEY -1.2%) scoops up 37 branches in northern New York, with $2.4B in deposits, for a deposit premium of $110M. KEY’s new branches are from First Niagara (FNFG +0.8%), which bought them from HSBC; the government had told First Niagara, now the biggest bank in upstate NY, it would have to sell at least 26 HSBC branches.
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