Done Deal: KeyCorp Completes Legal Acquisition of First Niagara

Friday, July 29, 2016

Source: Buffalo Business First

KeyCorp has expanded its footprint in Western New York and elsewhere now that it has completed the legal acquisition of Buffalo-based First NiagaraFinancial Group Inc.

The Cleveland bank-holding company (NYSE: KEY) made the announcement Friday afternoon. The deal, which was announced Oct. 30, was approved by the Federal Reserve Board on July 12.

Customers won’t notice any changes until later this year, as long as the U.S. Office of the Comptroller of the Currency approves the merger of KeyBank N.A. and First Niagara Bank N.A. If the OCC signs off, the systems and client conversion will take place during the fourth quarter.

“Our teams have worked hard over the past nine months to bring our two organizations together,” KeyCorp chairman and CEO Beth Mooney said in a release. “As we begin to move forward as one company, I am excited for the opportunities we have to accelerate our performance, drive growth and maximize long-term value for our clients, communities, employees and shareholders.”

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