Key Developments: First Niagara Financial Group Inc (FNFG.O)
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$0.08 (+0.75%)
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91,275
4,320,283
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$7.08
Latest Key Developments (Source: Significant Developments)
First Niagara Financial Group Inc Declares Quarterly Dividend
First Niagara Financial Group Inc announced that Board of Directors declared a quarterly dividend of $0.08 per share on outstanding FNFG common stock. The Company's Board of Directors also declared a quarterly preferred stock dividend of $0.539063 per share on its fixed-to-floating rate perpetual non-cumulative preferred stock, Series B. Both dividends will be payable on May 15, 2013 to shareholders of record on May 3, 2013. Full Article
First Niagara Financial Group Inc Issues FY 2013 EPS Guidance Below Analysts' Estimates-Conference Call
First Niagara Financial Group Inc announced that for fiscal 2013, it is comfortable with the consensus estimate of $0.74. According to IBES Estimates, analysts on an average were expecting the Company to report EPS of $0.75 for fiscal 2013. Full Article
First Niagara Financial Group Inc Appoints Gary Crosby as Interim President and Chief Executive Officer
First Niagara Financial Group Inc announced that its Board of Directors, at its regularly scheduled March 19th meeting, appointed Gary M. Crosby, 59, to serve as interim President and Chief Executive Officer(CEO). Mr. Crosby currently is Executive Vice President and Chief Administrative and Operations Officer of First Niagara. The appointment of Mr. Crosby follows the mutually agreed upon departure of John R. Koelmel, as First Niagara's President, Chief Executive Officer and Board member, effective immediately. A special committee of the Board's independent directors has been formed to initiate a search for a permanent President and CEO. The special committee will be chaired by board member Nathaniel Woodson, and will conduct a thorough and expeditious search, considering both internal and external candidates. An executive search firm will be retained to assist in the CEO selection process. Full Article
First Niagara Financial Group Inc Declares Quarterly Dividend
First Niagara Financial Group Inc announced that the Company's Board of Directors declared a quarterly dividend of $0.08 per share on outstanding FNFG common stock. The Company's Board of Directors also declared a quarterly preferred stock dividend of $0.539063 per share on its fixed-to-floating rate perpetual non-cumulative preferred stock, Series B. Both dividends will be payable on February 15, 2013 to shareholders of record on February 8, 2013. Full Article
First Niagara Financial Group, Inc.'s First Niagara Bank N.A. Completes Acquisition Of HSBC Branch
First Niagara Financial Group, Inc.'s First Niagara Bank N.A. announced that it has completed its acquisition of the Upstate New York and Connecticut branches from HSBC Bank USA, N.A., further enhancing the bank's regional franchise to 430 branches and 6,000 professionals, serving customers throughout New York, Pennsylvania, Connecticut and Massachusetts. The Company will convert more than 100 former HSBC branches and transition all customer accounts over the weekend. Those locations will open as First Niagara branches morning, May 21, with 1,200 new team members serving 500,000 new households. Full Article
First Niagara Financial Group, Inc. Declares Quarterly Dividend
First Niagara Financial Group, Inc. announced that the Company's Board of Directors declared a quarterly dividend of $0.08 per share on outstanding FNFG common stock. The Company's Board of Directors also declared a quarterly preferred stock dividend of $0.539063 per share on its fixed-to-floating rate perpetual non-cumulative preferred stock, Series B. Both dividends will be payable on May 15, 2012 to shareholders of record on May 4, 2012. Full Article
First Niagara Financial Group, Inc. Declares Quarterly Dividend
First Niagara Financial Group, Inc. announced that the Company's Board of Directors declared a quarterly dividend of $0.08 per share on outstanding FNFG common stock. The Company's Board of Directors also declared a prorated quarterly preferred stock dividend of $0.365365 per share on its fixed-to-floating rate perpetual non-cumulative preferred stock, Series B, issued December 14, 2011. Both dividends will be payable on February 15, 2012 to shareholders of record on February 3, 2012. Full Article
First Niagara Financial Group, Inc. Announces Pricing of $300 Million Subordinated Notes Offering
First Niagara Financial Group, Inc. announced that it has priced an underwritten public offering of $300 million aggregate principal amount of its 7.25% subordinated notes due 2021, at a price to the public of 100.00% of their principal amount plus accrued interest from December 13, 2011. Goldman, Sachs & Co. served as the global coordinator, Goldman, Sachs & Co. and Sandler O'Neill + Partners, L.P. served as joint book-running managers, and BofA Merrill Lynch served as the co-manager. The offering of subordinated notes is expected to close on December 13, 2011. The net proceeds from this offering of subordinated notes, after deducting underwriting discounts and commissions and estimated offering expenses, are expected to be approximately $297.6 million. First Niagara intends to use the net proceeds from this offering of subordinated notes to consummate its previously announced acquisition of branches of HSBC Bank USA, National Association announced on July 31, 2011 and for general corporate purposes. The closing of this offering of subordinated notes is not conditioned upon the closings of the offerings of common stock that priced on December 6, 2011 or perpetual non-cumulative preferred stock that priced on December 7, 2011. Full Article
First Niagara Financial Group, Inc. Announces $300 Million Subordinated Notes Offering
First Niagara Financial Group, Inc. announced the commencement of an underwritten public offering of $300 million aggregate principal amount of its subordinated notes due 2021. Goldman, Sachs & Co. will serve as the global coordinator for the offering, Goldman, Sachs & Co. and Sandler O'Neill + Partners, L.P. will serve as joint book-running managers for the offering, and Merrill Lynch, Pierce, Fenner & Smith Incorporated will serve as the co-manager for the offering. First Niagara intends to use the net proceeds from this offering of subordinated notes to consummate its previously announced acquisition of branches of HSBC Bank USA, National Association announced on July 31, 2011 and for general corporate purposes. The closing of the subordinated notes offering is not conditioned upon the closings of the offerings of common stock that priced on December 6, 2011 or perpetual non-cumulative preferred stock that priced on December 7, 2011. Full Article
First Niagara Financial Group, Inc. Announces Pricing of $350 Million Preferred Stock Offering
First Niagara Financial Group, Inc. announced that it has priced an underwritten public offering of 14 million shares of its fixed-to-floating rate perpetual non-cumulative preferred stock, Series B, at a price to the public of $25.00 per share plus accrued dividends from December 14, 2011. Goldman, Sachs & Co. served as the global coordinator for the offering, Merrill Lynch, Pierce, Fenner & Smith Incorporated served as the physical bookrunner for the offering, Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC served as joint book-running managers for the offering, Citigroup Global Markets Inc. served as the joint lead manager, Sandler O'Neill + Partners, L.P. served as the co-manager for the offering. The offering of preferred stock is expected to close on December 14, 2011. The preferred stock has a liquidation preference of $25 per share. The net proceeds from this offering of preferred stock, after deducting underwriting discounts and commissions and estimated offering expenses will be approximately $338.8 million. First Niagara intends to use the net proceeds from this offering of preferred stock to consummate its previously announced acquisition of branches of HSBC Bank USA, National Association announced on July 31, 2011 and for general corporate purposes. Full Article
TEXT-Fitch Affs First Niagara Financial Group's IDRs at 'BBB-/F3' Following Mid-Tier Regional Peer Review
NEW YORK, February 14 (Fitch) Fitch Ratings has affirmed the long-term and short-term Issuer Default Ratings (IDRs) of First Niagara Financial Group, Inc. and its subsidiaries at 'BBB-/F3'. The Rating Outlook remains Negative. A full list of ratings follows at the end of this release. Fitch reviewed First Niagara Financial Group, Inc. as part of a peer review that included 16 mid-tier regional banks.
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