First Niagara Meets Q3 Expectations

Friday, October 23, 2015

Source: Rochester Business journal

First Niagara Financial Group Inc. on Friday reported net income available to common shareholders of $52.9 million, or 15 cents a diluted share, in the third quarter. Earnings matched analyst expectations.

That compared with a net loss of $927.6 million, or $2.65 a share, for the quarter ended September 30, 2014. The Buffalo-based holding company for First Niagara Bank said that included a $1.1 billion non-cash goodwill impairment charge and a $45 million reserve. Excluding non-recurring costs, operating net income available to common shareholders for the year-ago quarter was $66.5 million, or 19 cents a share.

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