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US First Niagara Financial Group seeks to become bank holding company

Posted on: Fri, 27 Nov 2009 10:00:00 EST

Symbols: FNFG

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Nov 27, 2009 (M2 PRESSWIRE via COMTEX) --
FNFG | Quote | Chart | News | PowerRating -- 27 November 2009 - US First Niagara Financial Group (NASDAQ: FNFG), the
thrift holding company for First Niagara Bank, has filed with the
Federal Reserve Board to get a status of a bank holding company, the
company said today.

Via the move, the thrift holding enterprise seeks to become more
flexible and to strengthen its development through takeovers of both
thrifts and commercial banks.

First Niagara is currently allowed to operate thrift institutions only.

The conversion into a bank holding company would not affect First
Niagara's staff.

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