First Niagara Financial Group (FNFG) Reports In-Line Q3 EPS
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First Niagara Reports Third Quarter 2014 Results
October 24, 2014 5:59 AM EDTThird Quarter Highlights:
GAAP net loss available to common shareholders per share of $1.90. Operating earnings of $63.3 million or $0.18 per diluted share before the impact of two items: Non-cash pre-tax goodwill impairment charge of $800 million Non-cash goodwill impairment is an accounting loss and does not impact future profitability $45 million reserves to address a process issue related to certain customer deposit accounts Average loans increased 9% annualized QOQ, driven by both commercial and consumer loan categories Average commercial business (C&I) loans increased 9% QOQ Average consumer loans increased 13% QOQ led by... More