KeyCorp to sell 18 First Niagara branches

Posted at 1:21 PM, Apr 28, 2016

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.

For additional details,click here.