'Help us have an impact': First Niagara, NewAlliance confer with New Haven community about controversial acquisition
'Help us have an impact': First Niagara, NewAlliance confer with New Haven community about controversial acquisition <span style="color: #ff0000">(video)</span>- The New Haven Register - Serving New Haven, Connecticut
By Angela Carter, Register Staff
NEW HAVEN — The rapidly growing First Niagara Bank of Buffalo, N.Y., has more than $14 billion in deposits and a $30 million foundation, and shareholders would see their annual dividend double if regulators approve a proposed acquisition of NewAlliance Bank.
But it’s taking more than strong balance sheets for top executives to sell the $1.5 billion deal to the community.
John R. Koelmel, president and chief executive officer of First Niagara Financial Group Inc.; Peyton Patterson, chairman, president and CEO of NewAlliance Bancshares Inc.; and Paul McCraven, senior vice president of community development for NewAlliance, have been meeting this week with community stakeholders and asking them how First Niagara can make the most effective impact in the region.