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First Niagara Financial Group Inc. (NASDAQ:FNFG) stock decline

Boston, MA 10/04/2013 (wallstreetpr) – In Thursday’s trading, First Niagara Financial Group Inc. (NASDAQ:FNFG) dropped by 0.86%. The shares opened at a price of $10.41, climbed to an intraday high of $10.42 and dipped to a close of $10.33. Approximately 3.10 million shares were traded on Thursday while an average volume of 3.55 million shares were traded over a 30 day period. The 52-week low of the company’s shares is $7.08 and its 52-week high is $11.02. First Niagara Financial Group Inc. (NASDAQ:FNFG) has a market capitalization of $3.80 billion.

 About the company

First Niagara Financial Group Inc. (NASDAQ:FNFG) was incorporated on 19 July 2002. It provides a variety of retail as well as commercial banking and other financial-services via First Niagara Bank, its 100%-owned bank subsidiary. First Niagara Financial Group Inc. (NASDAQ:FNFG) is a bank-holding company. At 31 December 2012, it had $27.7B of deposits. It is a nationally-chartered regional bank that provides financial-services to families, individuals and businesses. It provides retail business and consumer and customers with various banking services. These include commercial and residential real-estate loans, commercial-business loans, consumer-loans, wealth-management products, and commercial and retail deposit products.

In addition, it offers insurance-services via a 100%-owned bank subsidiary. As of 31 December 2012, it conducted its business via 205 full service branches situated across Upstate NY, 129 full service branches located in Pennsylvania, 85 branches located in Connecticut plus 11 branches located in Western Massachusetts. These included numerous financial-services offices. On 18 May 2012, it acquired 137 full service-branches from HSBC Bank USA, National Association and its affiliates in the Buffalo, Rochester, Albany, Connecticut Syracuse and Downstate New York banking markets.

 Lending Activities

First Niagara Financial Group Inc. (NASDAQ:FNFG) main lending activity is the origination of different commercial business as well as real estate loans. It is also engaged in providing residential mortgage-loans to retail and commercial customers who are largely located within the company’s primary service and market areas.

Published by Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

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