First Niagara (FNFG) sells $3.1B of MBS with the proceeds used to pay off short-term debt. The...

|About: First Niagara Financial ... (FNFG)|By:, SA News Editor

First Niagara (FNFG) sells $3.1B of MBS with the proceeds used to pay off short-term debt. The lender expects a boost to earnings quality and consistency due to reduced prepayment risk and exposure to net interest margins. Shares +0.3% AH following a 5.7% gain in the regular session. (PR)