Northwest buys 18 First Niagara branches in Buffalo area
Northwest Bancshares Inc. reported Friday that its subsidiary, Northwest Savings Bank, has signed an agreement to purchase 18 branches of First Niagara Bank in western New York state.
Northwest, based in Warren, Pa., reported that it will receive about $1 billion in cash in the deal. Northwest will thus expand its footprint in western New York and push it to No. 4 in deposit market share in the Buffalo area.