NewAlliance Bank to be bought by company in Buffalo
Posted on Thursday, August 19th, 2010 at 7:29 pm
A company in Buffalo, N.Y. will be acquiring the NewAlliance Bank in a $1.5 billion business transaction that was complete today.
The merged banks, NewAlliance Bank and First Niagara Financial Group Inc., are now one of the nation’s 25 largest banks. The NewAlliance Bank is based in Connecticut and was formed in 2004.
It now 88 branches in Connecticut and Massachusetts. The president and CEO of First Niagara announced that he is excited to join the forces and thinks that the potential to grow is tremendous.
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