First Niagara Financial Group, Connecticut’s newest regional bank operator, reported a 55 percent increase in earnings for the first quarter, The Business Review reports.
The Buffalo-based parent of First Niagara Bank had net income of $44.9 million, or 22 cents a share, for the three months ended March 31. This compares to net income of $28.9 million, or 16 cents a share, in the first quarter of 2010.
Revenue rose 6 percent, to $225 million.
First Niagara last week finalized its $1.5 billion buyout of former NewAlliance Bancshares in New Haven.
