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First Niagara Boosts NII, Bottom Line in Q1

By Eric Volkman - Apr 19, 2013 at 8:07PM

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The banking group sees increases in key financial and operational metrics.

First Niagara Financial's (NASDAQ: FNFG) results for the banking group's Q1 have been unveiled. For the quarter, the company saw a nearly 10% year-over-year rise in net interest income, to $266 million, from the $242 million in the same period of 2012. Net income available to common shareholders advanced to $59.7 million ($0.17 per diluted share), against Q1 2012's red figure of $54.8 million ($0.16).

In terms of operational line items, the company's total deposits saw a healthy increase, growing by 46% over the year-ago level, to land at $27.7 billion. The figure for total loans, meanwhile, rose 22% across the same time frame to reach just over $20 billion.

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