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First Niagara Financial Group Inc  (FNFG)
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    Sector  Financial    Industry Money Center Banks
   Industry Money Center Banks
   Sector  Financial

First Niagara Financial Group Inc's

Competitiveness


 

FNFG Sales vs. its Competitors Q4 2015



Comparing the current results to its competitors, First Niagara Financial Group Inc reported Revenue increase in the 4 quarter 2015 by 4.38 % year on year, while most of its competitors have experienced contraction in revenues by -9.53 %, achieved in the same quarter.

List of FNFG Competitors

With a net margin of 14.67 % First Niagara Financial Group Inc achieved higher profitability than its competitors.

More on FNFG Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


First Niagara Financial Group IncNet Income in the 4 quarter 2015 fell year on year by -45.56%, while most of its competitors have experienced a contraction in net income by -34.45 %.

<<  FNFG Stock Performance Comparisons


First Niagara Financial Group Inc's Comment on Competitors and Industry Peers


Our primary lending and deposit gathering areas are generally concentrated in the same areas as our branches. We face significant competition in both making loans and attracting deposits in our markets as they have a high density of financial institutions, some of which are significantly larger than we are and have greater financial resources. Competition for loans comes principally from commercial banks, savings banks, savings and loan associations, mortgage banking companies, credit unions, insurance companies, and other financial services companies. Our most direct competition for deposits has historically come from commercial banks, savings banks, and credit unions, as well as additional competition for deposits from the mutual fund industry, internet banks, securities and brokerage firms, and insurance companies, as well as nontraditional competitors such as large retailers offering bank-like products. In addition to the traditional sources of competition for loans and deposits, payment processors and other companies exploring direct peer-to-peer banking provide additional competition for our products and services. In these marketplaces, opportunities to grow and expand are primarily a function of how we are able to differentiate our product offerings and customer experience from our competitors. We offer a variety of financial services to meet the needs of the communities that we serve, functioning under a philosophy that includes a commitment to customer service and the community. We have created a customer-centric organization structure that brings our customers' needs and preferences closer to the executive team that enables us to be more responsive to our customers.


More recently, competition for loans, particularly commercial loans, has intensified given the weak economic activity within our markets and nationally. This increased competition from banks and non-banks has resulted in accelerated loan prepayments, particularly in our investor owned commercial real estate portfolio as borrowers gravitate towards financial institutions that are more willing to compete on price, loan structures or tenor. This competition is most notable in Eastern Pennsylvania and New England.


We offer a variety of financial services to meet the needs of the communities that we serve, functioning under a philosophy that includes a commitment to customer service and the community. As of December 31, 2015, we operated 392 bank branches, including 190 in New York primarily located near Buffalo, Rochester, Syracuse and Albany; 118 branches in Pennsylvania primarily located near Philadelphia, Pittsburgh, Erie, and Warren; 75 branches in Connecticut primarily located near New Haven and Hartford; and nine in Western Massachusetts primarily located near Springfield.