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The merger between First Niagara and KeyBank began to take hold last week, with the loss of some services, in some cases on a temporary basis, and the planned closure of more than a few branches. The merger is resulting in considerable consolidation, including the closure of KeyBank and First Niagara branches, 12 of which are in the Lower Hudson Valley. One KeyBank branch, at Westchester Ave. The technical aspects of the merger began last week, with online bill pay halting on Thursday, First Niagara branches closing on Friday. Accounts had moved over by Tuesday morning and all the usual services, including telephone and online banking, are back up. To help smooth the transition for customers, KeyBank put together a website — Meetkeybank.
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KeyBank Personal Banking
KeyBank gets final OK on First Niagara merger
Systems and client conversion is expected during the fourth quarter of , subject to pending regulatory approval by the Office of the Comptroller of the Currency "OCC" for the merger of First Niagara Bank into KeyBank. As we begin to move forward, as one company, I am excited for the opportunities we have to accelerate our performance, drive growth and maximize long-term value for our clients, communities, employees, and shareholders. The acquisition, which was announced on October 30, , will include the addition of approximately branches in New York , Pennsylvania , Connecticut , and Massachusetts , giving Key more than 1, branches throughout its 15 state footprint. KeyCorp received regulatory approval from the Federal Reserve for the acquisition on July 12, Clients will continue to use their First Niagara accounts and other banking services until the fourth quarter, when accounts are expected to convert to KeyBank, subject to pending OCC regulatory approval.
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KeyBank, First Niagara merger: Five things to know
All First Niagara branches will close at 3 p. We look forward to showing our new customers how KeyBank will help them make better, more confident financial decisions. Key provides deposit, lending, cash management, insurance and investment services to individuals and small and mid-sized businesses in 15 states under the names KeyBank National Association and First Niagara Bank, National Association, through a network of more than 1, branches and more than 1, ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. For more information, visit www.
In the bank was rebranded as First Niagara. The bank was based in its former home county, Niagara until the s when it spread to nearby Buffalo, New York and its surrounding Erie County. Part of this growth could be attributed to the collapse of the Buffalo-centric banks Goldome and Empire of America. They were rebranded on Labor Day weekend in