Average User Rating:
1 star rating based on 2 reviews.

First Niagara Bank

555 Patroon Creek Blvd.
Albany, NY 12206
800-421-0004
www.fnfg.com

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First Niagara was founded as a community bank more than 139 years ago in Lockport, N.Y., located 30 miles from Buffalo, where they remain headquartered. Today, they are a financial services company committed to the same community-oriented philosophy yet they are able to serve a greater number of customers with added products, services and convenience. They offer personal and commercial banking, investment and insurance products primarily through banking centers, ATMs and several financial services subsidiaries throughout New York State. Their customers also have the convenience of advanced telephone and online banking.

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See Rates for: Checking | Savings | Money Market | CD

First Niagara Bank Checking Account Rates

Apy	Min	Max	Product
0.03%	$100k	-	Pinnacle Checking
0.03%	$25k	-	PinnaclePlus Checking

First Niagara Bank Savings Account Rates

	Apy	Min	Max	Product
	0.01%	$200	-	Statement Savings

First Niagara Bank Money Market Rates

Apy	Min	Max	Product
0.35%	$100k	-	PinnaclePlus Money Market w/ Bonus
0.30%	$100k	-	PinnaclePlus Money Market
0.30%	$100k	-	Pinnacle Money Market

First Niagara Bank CD Rates

	Apy	Min	Max	Product
	0.20%	$5k	-	30 Month eCD

Rates updated: 2/10/2012

Data for Q3 2011

Institution Statistics

First Niagara Bank, National Association
OTS #	17945
FDIC Certificate #	16004
BankRate Report	View
Year Established	1870
Employees	4712
Primary Regulator	OCC
Assets and Liabilities
Assets	$31.15 billion
Loans	$16.33 billion
Deposits	$20.07 billion
Equity Capital	$4.00 billion
Loan Loss Allowance	$112.75 million
Unbacked Noncurrent Loans	$217.10 million
Real Estate Owned	$9.39 million
Historic Data - September 2010
Assets	$20.82 billion
Equity Capital	$2.58 billion
Loan Loss Allowance	$94.53 million
Unbacked Noncurrent Loans	$146.65 million
Real Estate Owned	$8.62 million
Profit Margin - Quarterly
Net Interest Margin	3.79%
Return on Assets	0.71%
Return on Equity	5.63%
Interest Income	$776.48 million

Institution Health

Overall Score:

5 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 First Niagara Bank had $226.49 million in non-current loans and owned real-estate with $4.11 billion in equity and loan loss allowances on hand to cover it. This gives First Niagara Bank a Texas Ratio of 5.50% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for First Niagara Bank held steady from 5.65% as of September 30, 2010 to 5.50% as of September 30, 2011, resulting in a positive change of 2.63%.This indicates that the balance sheet and financial strength for First Niagara Bank has held steady in recent periods.
Deposit Growth
In the past year, First Niagara Bank has increased its total deposits by $6.53 billion, resulting in 48.23% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Niagara Bank has shown is excellent.
Capitalization
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Niagara Bank has $31.15 billion in assets with $4.11 billion in equity, resulting in a capitalization level of 13.21%, which is excellent.

First Niagara...A Nightmare!!!
1 stars

- dave9354 - Friday, September 23, 2011 - 5:55 AM

After receiving a flyer in the mail, I opened an e-checking account with the promise of a 100.00 bonus. It has been a week since they ACH transfered my initial funding to open the account. The funds were withdrawn from my external account the next day but they were never deposited into the new account. After repeated calls to the bank, no one seems to know where the money went!!! The csr tells me she will check on the problem and call me back. No one returns my call. I have wasted a great deal of my time calling the bank and no one can find my money!! When I call the bank they just pass me on to another csr with no results!! This bank has the worst customer service I have ever seen in my life!!

You'll Get Better Service Burying A Tin Can In The Back-Yard
1 stars

- js - Friday, December 9, 2011 - 3:36 PM

Hands down the worst bank I have ever had the displeasure of dealing with. The down fall was immediate when First Niagra bought my old bank (Harleysville National)... First Niagra "automatically changed accounts to different types" started charging monthy service fees, and minimum balance fees on account that previously had none... the service at the branch level was poor too, tellers and managers just shrug and rol their eyes "that's just how it is" this bank changed my accounts started charging fees and when confronted about it... they kept the fees and threatened to turn me over to collections for the negative balance on one of my accounts (YES they charged enough in "new" fees to run my account into the negative. There Idea of customer service was to keep the money and offer to forget about the negative balance.... I would not ever consider doing business with this bank again... EVER

If I could have given a 1/2 star I would have