KeyCorp (KEY) Receives Regulatory Approval to Acquire First Niagara Bank

September 22, 2016 3:23 PM EDT

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KeyCorp (NYSE: KEY) announced today that it has received regulatory approval from the Office of the Comptroller of the Currency (OCC) for the merger of First Niagara Bank into KeyBank. KeyCorp acquired First Niagara Bank on August 1, 2016 pursuant to its merger with First Niagara Financial Group.

Conversion of First Niagara systems and clients to KeyBank is scheduled to take place over Columbus Day Weekend, October 7-11, 2016. All First Niagara branches will close at 3 p.m. Friday, October 7, with branches reopening as KeyBank branches on Tuesday, October 11.

"As we bring KeyBank and First Niagara together, at every turn we have worked to make this transition as smooth as possible," said Beth Mooney, KeyCorp CEO and Chair. "I am proud that our two companies have worked so well together to meet our commitments to customers, communities, employees, and shareholders. We look forward to showing our new customers how KeyBank will help them make better, more confident financial decisions."

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