First Niagara Financial Group, Inc. · Lockport, NY United States ·(NASDAQ (GS): FNFG)
Company Description
Phone: 716-625-7500
Fax: 716-625-8405
Toll Free: 800-201-6621
Rankings
- S&P 400
View First Niagara Financial Group, Inc. Locations On A US Map
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This link will open in a new window A lot of water and a few barrels have gone over Niagara Falls since First Niagara Bank was founded. Tracing its roots to 1870, the flagship subsidiary of acquisitive First Niagara Financial Group operates more than 110 branches across upstate New York, offering deposit and loan products, insurance, and investments. Commercial real estate loans comprise about 35% of the company's loan portfolio; residential mortgages are more than 30%. The company's First Niagara Commercial Bank subsidiary accepts municipal deposits. First Niagara Financial is entering Pennsylvania in a big way: It acquired more than 50 bank branches from PNC Financial in 2009, and plans to buy bank holding company Harleysville National . To read the full description, subscribe now.
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Key First Niagara Financial Group, Inc. Financials
| Company Type | Public - NASDAQ (GS): FNFG Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $384.3 |
| 2008 Employees | 1,909 |
First Niagara Financial Group, Inc. Executives
23 executives listed for First Niagara Financial Group, Inc.'s Lockport, NY location.
| Title | Name & Bio | Contact |
| Chairman | G. Thomas Bowers | Network |
| Vice Chairman | David Zebro | Network |
| President, CEO, and Director | John Koelmel | Network |
Competition
Competitive Landscape for First Niagara Financial Group, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top First Niagara Financial Group, Inc. Competitors
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