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KeyBank, First Niagara merger to be completed this weekend

Oct 07, 2016 7:15 am

Greg Hudson is reporting in the Register-Star KeyCorp will complete its takeover of First Niagara Bank this weekend. Several of First Niagara's local branch offices will be transformed and open as KeyBank locations following the Columbia Day holiday. The $4.1 billion deal, announced last October, provided for the KeyCorp acquisition of First Niagara’s bank branches and nearly $40 billion in assets and $30 billion in deposits. The takeover will be completed with the transfer of approximately one million First Niagara accounts to the KeyBank computer system, as well as the installation of KeyBank signage and merchandise at all branches this weekend. KeyBank representatives will be available starting Tue., Oct. 11, to assist customers with replacing their ATM and debit cards. KeyBank will close 18 First Niagara locations in the Capital Region as part of the merger. The First Niagara branches in Catskill and in Ravena will close this weekend. At some future date, KeyBank branches in Copake and Greenport will be consolidated with nearby First Niagara branches. Earlier plans to close the First Niagara branch in Philmont have been abandoned. Read the full story in the Register-Star.

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