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FNFG - is a screaming buy at 13!

|Includes: First Niagara Financial Group Inc. (FNFG), PNC

This bank is doing great, and does not need TARP. But that is not why it's a BUY, it's actually because of the sweet deal they are getting by acquiring the 57 branches, and $4 billion in deposits, becoming available when PNC Financial takes over National City Bank. This deal will close in September 2009, and this bank is even looking for more assets to take over as it raises capital. Not to mention they have a nice dividend. This is what the CEO says “I have never been more proud to report on our progress,” Koelmel said. “To say we’re on a real high is an understatement. We’re absolutely clicking on all cylinders.”

Disclosure: Long FNFG