First Niagara Bank
First Niagara Bank reported total assets of $32.9 bn at Q3 2016, its last Call Report before it merged into KeyBank National Association. Its common equity tier 1 ratio was 11.11%, and an estimated 31.46% of domestic deposits were uninsured. Source: FDIC Call Report data, cross-checked against FFIEC filings.
- Return on equity (ROE): down 5.70 pp on Q2 2016, to -0.10%
- Total assets: down 17.5% on Q2 2016, to $32.9 bn
- Uninsured share of domestic deposits: up 2.48 pp on Q2 2016, to 31.46%
Ranks compare banks in our US coverage that report each metric. Sparklines: the last ten years. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Overview
What stands out about First Niagara Bank?
Its largest one-quarter change in total assets since Q1 2016 was -17.5% between Q2 2016 and Q3 2016, a quarter with no merger or acquisition in the FDIC history. Against its six size peers, its efficiency ratio stands out most: 91.90% at Q3 2016, above the peer median of 56.87%.
How large is First Niagara Bank?
At Q3 2016 the bank held $32.9 bn of assets. Deposits were $27.3 bn and net loans and leases $23.0 bn, a loan-to-deposit ratio of 84.03%. Securities of $5.5 bn made up 16.8% of assets.
Total assets fell 17.7% between Q1 2016 and Q3 2016, from $40.0 bn.
How much of its funding is uninsured?
An estimated 31.46% of domestic deposits were above the FDIC insurance limit at Q3 2016, +2.48 pp from the previous quarter.
Key facts, Q3 2016
| Metric | Value | Change from a year earlier | US rank |
|---|---|---|---|
| Total assets | $32.9 bn | not available | |
| Total deposits | $27.3 bn | not available | |
| Net loans and leases | $23.0 bn | not available | |
| Bank equity capital | $4.4 bn | not available | |
| Common equity tier 1 (CET1) ratio | 11.11% | not available | |
| Tier 1 leverage ratio | 8.47% | not available | |
| Return on equity (ROE) | -0.10% | not available | |
| Net interest margin | 0.68% | not available | |
| Uninsured share of domestic deposits | 31.46% | not available | |
| Unrealized gain/loss on held-to-maturity securities | Gain of $1.1 mn | not available | |
| Noncurrent loans to total loans | 1.22% | not available | |
| Net charge-offs to average loans | 0.01% | not available |
US rank: rank among the banks in our coverage reporting each metric, 1 = highest unless marked 1 = lowest.
Balance sheet
Total assets, deposits and net loans, quarterly, Q1 2016 to Q3 2016.
- Total assets $32.9bn
- Deposits $27.3bn
- Net loans $23.0bn
Capital and securities
The common equity tier 1 (CET1) ratio was 11.11% at Q3 2016. Since Q1 2016 it has ranged from 10.73% (Q1 2016) to 11.11% (Q3 2016). At Q3 2016 the tier 1 leverage ratio was 8.47% and the total risk-based capital ratio 11.26%. The median CET1 ratio of the size peers listed below was 11.81% at Q3 2016.
Held-to-maturity securities had an unrealized gain of $1.1 mn at Q3 2016, measured as fair value minus amortized cost, equal to 0.0% of bank equity capital. Available-for-sale securities showed an unrealized gain of $3.6 mn at Q3 2016.
Capital ratios
- Total capital 11%
- CET1 11%
- Tier 1 leverage 8.5%
Unrealized gains and losses on securities
- Available for sale $4mn
- Held to maturity $1mn
Profitability and loan quality
Return on equity was -0.10% for the year to Q3 2016, annualized, with a return on assets of -0.01% and a net interest margin of 0.68%. The efficiency ratio, noninterest expense as a share of revenue as the FDIC defines it, was 91.90%. Net income for the year to Q3 2016 was -$3.4 mn. The median return on equity of its size peers was 10.07% for the same period.
Noncurrent loans, those 90 days or more past due or no longer accruing interest, were 1.22% of total loans at Q3 2016. Net charge-offs for the year to date were 0.01% of average loans, annualized.
Profitability
- Return on equity -0.1%
- Net interest margin 0.7%
- Return on assets 0.0%
Compared with banks of similar size
The six banks ranked closest to First Niagara Bank by total assets at Q3 2016, three above and three below where possible.
Among the seven banks in the table at Q3 2016, First Niagara Bank is 4th by total assets. Its CET1 ratio of 11.11% compares with a peer median of 11.81%, its tier 1 leverage ratio of 8.47% compares with a peer median of 8.91%, and its return on equity of -0.10% compares with a peer median of 10.07%.
| Bank | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|
| Citizens Bank of Pennsylvania | $35.8 bn | 12.86% | 5.16% | 36.78% | |
| E*TRADE Bank | $35.6 bn | 36.67% | 13.85% | 10.17% | |
| East West Bank | $33.2 bn | 11.28% | 12.81% | 50.07% | |
| First Niagara Bank | $32.9 bn | 11.11% | -0.10% | 31.46% | |
| First-Citizens Bank & Trust Company | $32.8 bn | 12.35% | 8.06% | 35.77% | |
| BOKF | $32.7 bn | 10.65% | 8.20% | 57.06% | |
| Barclays Bank Delaware | $31.2 bn | 10.62% | 11.94% | 5.17% | |
Q3 2016. Peer median (the six banks, excluding this one): CET1 11.81%, return on equity 10.07%. Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Last eight quarters
First Niagara Bank, as reported in its Call Reports.
From Q1 2016 to Q3 2016, total assets fell 17.7% to $32.9 bn, deposits fell 9.0% to $27.3 bn and bank equity capital rose 0.1% to $4.4 bn. Over the same period its full-time equivalent staff went from 5,322 to 4,867 and its offices went from 408 to 390.
| Metric | Q1 2016 | Q2 2016 | Q3 2016 |
|---|---|---|---|
| Total assets | $40.0 bn | $39.9 bn | $32.9 bn |
| Total deposits | $30.1 bn | $29.5 bn | $27.3 bn |
| Bank equity capital | $4.4 bn | $4.5 bn | $4.4 bn |
| Common equity tier 1 (CET1) ratio | 10.73% | 10.86% | 11.11% |
| Return on equity (ROE) | 5.57% | 5.60% | -0.10% |
| Uninsured share of domestic deposits | 30.20% | 28.98% | 31.46% |
| Full-time equivalent employees | 5,322 | 5,255 | 4,867 |
| Number of offices | 408 | 408 | 390 |
Source: FDIC BankFind Suite (Call Report data), cross-checked against FFIEC Call Report filings. Calculations: EconoMonitor.
Mergers and acquisitions
Figures before and after each event are not like for like.
- . Merged into KeyBank National Association (FDIC certificate 17534).
Source: FDIC BankFind API, institution history. Moves of more than 25% in one quarter are checked against that history in our review.
Identifiers and sources
- FDIC certificate
- 16004
- Federal Reserve RSSD ID
- 517900
- Head office
- Buffalo, New York
- Holding company
- KEYCORP (as reported to the FDIC)
- Holding company RSSD ID
- 1068025
- EconoMonitor ID
- EMB-US-000071
Frequently asked questions
What were First Niagara Bank's total assets?
$32.9 bn at Q3 2016, according to its Call Report as published by the FDIC.
Is First Niagara Bank the same as its holding company?
No. This page covers the FDIC-insured bank (certificate 16004). Its holding company, KEYCORP (as reported to the FDIC), reports separately to the Federal Reserve and, if its shares are listed, to the SEC.
How often is this page updated?
Every quarter, after First Niagara Bank files its Call Report and the FDIC publishes it. This page shows Q3 2016, loaded on 19 October 2026; any sentence that uses an earlier quarter names it.
Where can I check these numbers?
In the FDIC BankFind Suite record for certificate 16004, and in the Call Reports filed under RSSD ID 517900 at the FFIEC Central Data Repository.
Sources and definitions
Definitions, Call Report fields and formulas for each metric: Bank equity capital, Common equity tier 1 (CET1) ratio, Deposits in domestic offices, Efficiency ratio, Full-time equivalent employees, Loan-to-deposit ratio, Total loans and leases (gross), Net loans and leases, Net charge-offs to average loans, Net income (year to date), Net interest margin, Noncurrent loans to total loans, Number of offices, Return on assets (ROA), Return on equity (ROE), Available-for-sale securities (amortized cost), Available-for-sale securities (fair value), Held-to-maturity securities (amortized cost), Held-to-maturity securities (fair value), Total securities, Tier 1 leverage ratio, Total assets, Total deposits, Total equity capital, Total risk-based capital ratio, Uninsured share of domestic deposits, Estimated uninsured deposits, Unrealized gain/loss on available-for-sale securities, Unrealized gain/loss on held-to-maturity securities.
Checks for this release: Check A (database against the FDIC download) passed, Check B (FDIC against FFIEC Call Report filings) passed.
Source: FDIC BankFind Suite (Call Report data). EconoMonitor is not affiliated with or endorsed by the FDIC. FDIC BankFind Suite API.
Source: FFIEC Central Data Repository (Call Reports). EconoMonitor is not affiliated with or endorsed by the FFIEC. FFIEC Central Data Repository, Public Data Distribution.
Data and analysis only, not financial advice. The FDIC and the FFIEC do not endorse EconoMonitor. See the disclaimer and methodology.