KeyCorp has reached a deal with First Niagara Financial Group to sell 18 current First Niagara branches in Erie and Niagara counties as part of its takeover of Western New York's second-largest bank.
In order to resolve antitrust concerns, KeyCorp will divest 13 branches in Erie County and five in Niagara County with a total of approximately $1.7 billion in deposits, according to the U.S. Justice Department.
The merger, which is expected to be complete by the third quarter of this year, will make Cleveland-based KeyCorp the 13th largest bank in the nation, with more than 1,000 branches across 15 states. It will also signal the end of First Niagara, a homegrown company founded in Lockport in 1870 that now has a considerable footprint across the Buffalo-Niagara region.
Here is a list of First Niagara branches that will be sold:
- 1531 Niagara Falls Boulevard, Amherst
- 3105 Niagara Falls Boulevard, Amherst
- 364 Connecticut Street, Buffalo
- 14 Lafayette Square, Downtown Buffalo
- 4435 Transit Road, Clarence
- 2070 George Urban Boulevard, Depew
- 6409 Transit Road, East Amherst
- 2300 Grand Island Boulevard, Grand Island
- 5751 South Park Avenue, Hamburg
- 1690 Sheridan Drive, Kenmore
- 1248 Abbott Road, Lackawanna
- 500 Center Street, Lewiston
- 55 East Avenue, Lockport
- 805 Main Street, Niagara Falls
- 4381 Military Road, Niagara Falls
- 690 Kenmore Avenue, North Buffalo
- 1035 Payne Avenue, North Tonawanda
- 3488 Amelia Drive, Orchard Park
On Thursday afternoon it was announced that Northwest Savings Bank will acquire those 18 branches. This message was posted on the bank's website.
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