Oct. 23, 2014, 4:35 PM
Oct. 17, 2014, 8:53 AM
- Noting more than 200K of its 500K customers now use mobile and online banking options, First Niagara (NASDAQ:FNFG) announces the consolidation of 17 branches and two off-premise drive-thru locations. Following the closings, First Niagara will continue to operate more than 390 branches across four states (410 now).
- Source: Press Release
Sep. 4, 2014, 4:10 PM
- Effective immediately, First Niagara's (NASDAQ:FNFG) Retail Banking and Consumer Finance groups will be merged into one Consumer Financial Services team to be led by EVP Mark Rendulic. Consumer Finance head Andrew Fornarola will be exiting the bank.
- Included in the new Consumer Financial Services group will be the bank's retail, wealth management, consumer direct lending, and residential mortgage businesses.
- Source: Press Release
Jul. 25, 2014, 7:35 AM
- Q2 net income of $66.2M o $0.19 per share compares to $63.6M and $0.18 one year ago.
- Net interest income of $271.8M vs. $269.4M a year ago.
- Noninterest income of $80.9M fell from $95.5M thanks to lower mortgage banking revenue.
- Annualized organic loan growth of 7% during Q2.
- Noninterest expenses of $244.1M vs. $235.2M.
- Total Risk Based capital ratio of 11.5%.
- Conference call at 10 ET
- Previously: First Niagara beats by $0.01, misses on revenue
- FNFG flat premarket
Jul. 25, 2014, 7:17 AM
Jul. 24, 2014, 5:30 PM
Jul. 23, 2014, 8:44 AM| Comment!
Apr. 25, 2014, 9:00 AM| Comment!
Apr. 24, 2014, 7:39 AM
- Operating net income available to shareholders of $60.2M vs. $59.7M one year ago.
- Net interest income of $270.7M vs. $266.1M a year ago. NIM of 3.33%. Noninterest income of $76.7M falls from $89.3M, after $7.5M HTC amortization charge. Mortgage banking revenue fell 47% Y/Y.
- Noninterest expense of $238.4M vs. $237.7M a year ago.
- Organic loan growth up 8% annualized in Q1.
- Tier 1 Common Risk Based Capital Ratio of 7.9%.
- CC at 10 ET
- Press release, Q1 results
- FNFG +0.5% premarket
Apr. 24, 2014, 7:20 AM
Apr. 24, 2014, 12:05 AM
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Apr. 23, 2014, 5:30 PM
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Apr. 9, 2014, 10:10 AM
Mar. 20, 2014, 10:54 AM
- Much of the financial sector is lit up bright green, continuing to outperform following yesterday's suggestion by the FOMC and Janet Yellen that rate hikes could come sooner than expected. XLF +1.1%, KBE +1.6%, KRE +1.6%.
- At new 52-week or even multi-year highs are JPMorgan (JPM +2.3%), Wells Fargo (WFC +1.7%), Morgan Stanley (MS +1.4%), and Bank of America (BAC +1.6%).
- Regional lenders: U.S. Bancorp (USB +1%), Huntington (HBAN +1.5%), PNC (PNC +1.3%), BB&T (BBT +1.5%), Fifth Third (FITB +1.8%), First Niagara (FNFG +2.1%).
- Leading among the life insurers are Lincoln National (LNC +1.9%), Protective Life (PL +1.6%), Manulife (MFC +1.2%), and Sun Life (SLF +1.1%).
- ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, KIE, IAT, SEF, IYG, IAK, FXO, PFI, KBWB, RKH, QABA, FNCL, FINU, KRU, RWW, KBWR, RYF, PSCF, KBWI, KBWP, KRS, FINZ
Feb. 7, 2014, 12:41 PM
- Liquidity is becoming an issue at many community and regional banks, says Sterne Agee's Matthew Kelley, noting growing loan-to-deposit ratios. Bank runs are not the worry, but keeping loan pipelines well funded is, and a number of smaller players could be acquisition targets for lenders looking to boost deposits.
- Kelley's list of 12 possibilities in the Northeast: Westfield Financial (WFD +0.1%), Century Bancorp (CNBKA -0.9%), Hudson Valley Holding (HVB +0.1%), Republic First (FRBK +1%), Metro Bancorp (METR +0.4%), Suffolk Bancorp (SUBK +3.3%), Citizens and Northern (CZNC +0.3%), Sun Bancorp (SNBC), First Niagara (FNFG +1.7%), Orrstown Financial (ORRF +0.4%), Camden National (CAC +0.5%), Cambridge Bancorp (CATC +0.2%).
- Under pressure to raise deposits? Susquehanna Bancshares (SUSQ -0.6%) - whose loan-to-deposit ratio rose to 105.5% in Q4 from 102.5% a year earlier. Investors Bancorp (ISBC) with a ratio of 120%, New York Community Bancorp (NYCB), Astoria Financial (AF +0.8%), and People's United (PBCT +0.2%).
Jan. 28, 2014, 4:19 PM| Comment!
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