KeyCorp CFO: First Niagara 'Exceeding on all Fronts'
Tuesday, October 25, 2016
Source: Buffalo Business First
First Niagara Financial Group Inc.’s book of business continued to grow over the past 12 months, even as the company prepared to be acquired by KeyCorp.
In fact, First Niagara's growth in customers, households, deposits and loan balances is beyond what KeyCorp officials expected.
“They were able to continue to grow that franchise despite the fact that this merger was going on,” KeyCorp chief financial officer Donald Kimble said Tuesday during the bank’s quarterly conference call with investors. “You combine that with the expense (savings) we realized in the third quarter and that was earlier than what we expected as well. So it feels like and it shows that they’re exceeding on all fronts.”