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Key Bank closes on First Niagara acquisition

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Posted at 8:47 PM, Jul 29, 2016
and last updated 2016-07-31 06:04:38-04

First Niagara Bank has handed the keys over to KeyBank.

KeyCorp announced Friday that it has closed its acquisition of First Niagara Financial Group.

KeyCorp says it remains business as usual for First Niagara customers for now.  In the autumn months, customers’ accounts will be switched over and First Niagara branches will either close, merge, or be re-branded.

First Niagara has a long history in Western New York.  The company began in Lockport, as the Farmers and Mechanics Savings Bank in 1870. 

The deal costs KeyCorp $4 billion.