First Niagara Reports First Quarter 2014 Results

Date Posted: April 24, 2014

First Quarter Highlights:
  • Operating Earnings of $0.17 per diluted share, excluding restructuring charges
    • GAAP Earnings of $0.15 per diluted share
  • Revenues flat YOY excluding Historic Tax Credit (HTC) asset amortization
    • Net interest income increased 2% YOY driven by balance sheet growth
    • Fees, excluding HTC amortization, decreased 6% YOY driven by lower mortgage banking and capital markets revenues
  • Organic loan growth continues, with average loans up 8% annualized QOQ
    • Average commercial business and real estate loans increased 9% QOQ
    • Momentum in average indirect auto loans continues with $160 million increase
  • Strong credit quality maintained
    • NCOs decreased to 0.36% of average originated loans in the first quarter of 2014
    • Nonperforming originated loans to originated loans decreased 11 basis points QOQ
  • Successful launch of remote deposit capture mobile feature in January 2014
    • Transactional deposits averaged 36% of deposits, up from 32% a year-ago

Contacts

Ram Shankar
Senior Vice President,
Investor Relations

(716) 270-8623

ram.shankar@fnfg.com

 

Media Contact

David Lanzillo
1-716-819-5780
david.lanzillo@fnfg.com

Download file

Download fact sheet
How do I open this file?

Please Note:

Public relations officers are available for media inquiries only.

For customer and sales inquiries, please call 1-800-421-0004

 
 
cancel

Customize Your Experience.

By providing your ZIP code, we can customize our content to display the rates, products, locations and Mortgage Consultants in your area. Alternately, you can continue without ZIP code.