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First Niagara Continues to Optimize Branch Network as Customer Banking Preferences Evolve

BUFFALO, N.Y., Oct. 17, 2014 (GLOBE NEWSWIRE) -- First Niagara Financial Group (Nasdaq:FNFG) today announced that the company will consolidate 17 branches and two off premise drive-thru locations across its four-state footprint in January 2015, as the company continues to evaluate its branch network. First Niagara has continued to invest in mobile and online banking technologies, which are now used by more than 200,000 and 500,000 of its customers, respectively. Following these changes, the company will continue to operate more than 390 branch locations across its four-state footprint.

"Across the financial services industry branch traffic, and the number of transactions handled per branch, are declining and self-service transactions are increasing. First Niagara is no different," said Mark Rendulic, First Niagara Executive Vice President, Consumer Financial Services. "A majority of customers prefer online, mobile and ATMs for simple transactions – and their use of these technologies is growing. Branches remain a critical part of our business; as customers value personal interaction for life-changing investments and more complex banking transactions. As customer preferences continue to change, we are committed to evolving our branch network and our in-branch services to keep pace with their needs."

Customers of the impacted branches will receive a written notice, sent 90 days in advance of the closing date. The majority of the receiving branches are within three miles of the closing branch. Customer accounts will be automatically moved to the receiving branch.

Team members who are impacted by these changes will either transition to new, customer-facing roles or will have an opportunity to apply for any of the more than 200 open positions within the company.

The following branches will be consolidated:

Branch Address City State Zip
Code
VESTAL PLAZA Closing 4700 Vestal Pkwy E Vestal NY 13850
Oakdale Mall Receiving 200 Oakdale Mall Johnson City NY 13790
PLAZA-ROCHESTER Closing 1 HSBC Plaza Rochester NY 14639
Downtown Rochester Branch Receiving 19 West Main Street Rochester NY 14614
SANFORD FARMS PRICE CH Closing 141 Sanford Farms Amsterdam NY 12010
Route 30 Maple Avenue Branch Receiving 4773 State Highway 30 Amsterdam NY 12010
WESTVILLE Closing 36 Fountain Street New Haven CT 6515
Woodbridge Branch Receiving 211 Amity Road Woodbridge CT 6525
VERNON TRI-CITY Closing 35 Talcottville Road Vernon CT 6066
Vernon Branch Receiving 348 Hartford Turnpike Vernon CT 6066
MANCHESTER SHOP RITE Closing 214 Spencer Street Manchester CT 6040
East Hartford Silver Lane Branch Receiving 950 Silver Lane East Hartford CT 6118
MITTINEAGUE Closing 1440 Westfield Street West Springfield MA 1089
Park Tower Branch Receiving 225 Park Avenue West Springfield MA 1089
CHICOPEE Closing 637 Front Street Chicopee MA 1013
Riverdale Branch Receiving 1063 Riverdale Street West Springfield MA 1089
HATFIELD Closing 1540 Cowpath Rd Hatfield PA 19440
North Broad Branch Receiving 1804 North Broad St Lansdale PA 19446
QUAKERTOWN Closing 224 W. Broad St Quakertown PA 18951
Trainer's Corner Branch Receiving 120 N. West End Blvd Quakertown PA 18951
ALLENTOWN Closing 1602 W. Allen St Allentown PA 18102
Cedar Crest Branch Receiving 1251 S. Cedar Crest Blvd Allentown PA 18103
SOMERTON Closing 11730 Bustleton Ave Philadelphia PA 19116
Bustleton Branch Receiving 9869 Bustleton Ave Philadelphia PA 19115
RIDGEFIELD Closing 108 Danbury Rd Ridgefield CT 6877
Norwalk Branch Receiving 79 New Canaan Avenue Norwalk CT 6850
682 - FAIRFIELD WOODS Closing 2500 Black Rock Turnpike Fairfield CT 6825
Fairfield Center Branch Receiving 1761 Post Rd Fairfield CT 6824
684 - MONROE Closing 155 Main St Monroe CT 6468
Shelton Branch Receiving 704 Bridgeport Ave Shelton CT 6484
686 - WILTON CT Closing 30 Danbury Rd Wilton CT 6897
Norwalk Branch Receiving 79 New Canaan Avenue Norwalk CT 6850
782 - HIGH RIDGE Closing 1117 High Ridge Road Stamford CT 6905
Springdale Branch Receiving 1042 Hope Street Stamford CT 6907
Drive Up Only
Sharpsburg Drive Up Closing Sixth and Main Sharpsburg PA 15215
Manchester Main Drive Up Closing 923 Main Street Manchester CT 6040

About First Niagara

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 410 branches, $39 billion in assets, $27 billion in deposits, and approximately 5,900 employees providing financial services to individuals, families and businesses across New York, Pennsylvania, Connecticut and Massachusetts. For additional information on First Niagara, visit us at www.firstniagara.com, follow us on Twitter @FirstNiagara, or like us on Facebook at FirstNiagaraBank.

CONTACT: David Lanzillo SVP, Corporate Communications (716) 819-5780 David.lanzillo@fnfg.com Oliver Hays VP, Communications Manager (716) 819-5923 Oliver.hays@fnfg.com

Source:First Niagara Financial Group, Inc.