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First Niagara taking over local HSBC branches

by TSchmitt
Mon, Aug 1st 2011 08:28 am

 You will be seeing a lot more First Niagara bank branches in Western New York.

That's because the bank, which was born in Lockport, is taking over nearly 200 branches from struggling HSBC, including 60 in the Buffalo area.

The one-billion dollar deal was announced over the weekend. The transaction gives First Niagara the most branches in the Buffalo area.

According to reports, First Niagara outbid both M&T and KeyCorp for the branches. Meanwhile, HSBC is expected to announce later this morning some 30,000 playoffs worldwide.

 

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