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Banking & Finance

Merger-related costs reduce First Niagara’s net income

First Niagara Financial Group Inc. reported net income available to shareholders of $38.9 million, or 11 cents a diluted share, for the second quarter. That’s down from $53.5 million, or 15 cents a share for the period in 2015.

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KeyCorp acquisition of First Niagara Financial Group closes

KeyCorp late Friday afternoon said it closed the deal on its acquisition of First Niagara Financial Group Inc., allowing the planned merger of KeyBank and First Niagara Bank to move forward.

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Banks ready for opportunities with big merger

This week, Five Star Bank announced it had picked up a new director of business banking, a former corporate banking leader from First Niagara Financial Group Inc. For the Rochester area, this is one example of the ripple effect emanating ...

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Branch changes planned

With KeyBank’s acquisition of First Niagara, nine branch locations in the Rochester area will be consolidated. Four First Niagara branches are slated for consolidation in October:  6687 Pittsford-Palmyra Road, Fairport  51 Public Square, Holley  19 W. Main St., Rochester  1243 ...

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Five Star Bank gears up for more expansion

Seven weeks after a proxy battle that could have led to the company’s sale, Five Star Bank is forging ahead with a reorganized leadership team that President and CEO Martin Birmingham said will “take a good organization and make it ...

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Northwest Bank parent posts Q2 loss

Northwest Bancshares Inc., the parent of Northwest Bank, announced a second-quarter net loss of $7 million, a decrease of $22.3 million compared with the same quarter last year.

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Tompkins Financial shares rise on Q2 report

Shares of Tompkins Financial Corp. rose nearly 4 percent Friday after the company reported an increase in second-quarter earnings, excluding a special item in the second quarter a year ago.

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Two recent decisions change bankruptcy landscape

This year, two recent decisions of the U.S. Supreme Court have affected core bankruptcy law principles and shaped the rights of debtors and creditors in bankruptcy. Additionally, the Supreme Court is scheduled to hear an appeal on another key bankruptcy ...

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Banks balance technology with brick-and-mortar

The ever-changing digital landscape has transformed the banking industry, creating challenges and opportunities that were foreign just a handful of years ago. “It’s all about catering to what the customer wants,” says Karen Serinis, executive vice president at Canandaigua National ...

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More opportunity for up-and-coming entrepreneurs

Even a very small loan, or “microloan,” can make a life-or-death difference to the owner of a small business or a budding entrepreneur. Unfortunately, some are barred from acquiring the funds they need. “We do have a slice of a ...

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Potential Brexit impact at least two years away

The year 1993 was a pivotal one in the entertainment world. The TV show “Friends” began filming that year and soon became a runaway success. The show launched Jennifer Aniston into mega-celebrity status. Because of her newfound fame, she came ...

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