has also noticeably increased the size of its credit-sensitive
Fitch views positively that FNFG
recently restructuring its investment securities book to reduce its interest rate risk related to MBS holdings.
Although the expected deposit premium is less than FNFG
paid, it is within market expectations and recent announcements by FNFG
Fitch had affirmed the ratings of FNFG
on the acquisition announcement based on the view that this transaction could enhance FNFG
's franchise and market share in its main footprint, carried minimal credit risk, and that the proposed financing structure and capital implications were manageable within the current ratings.
's ratings could be positively affected if FNFG
is able to successfully integrate and generate incremental and profitable loan and revenue growth while continuing with its disciplined capital and liquidity management.
Although Fitch had anticipated FNFG
to continue with its 'buy and build' strategy, it heightens integration and execution risk.
also created BIZ500, developed to address the needs of growing small businesses.
Tickers featured: CBBO, FNB, FNFG
, FULT, HNBC, IBKC, LM, NPBC, SBNY, STBA, TBBK, TSFG, WL.
As of December 31, 2009, FNFG
operated 171 bank branches, including 114 branches in Upstate New York and 57 branches in western Pennsylvania.
Tickers featured: COF, FNFG
, HCBK, NYB, PBCT, SUSQ, VLY, WBS.
Tickers featured: ABNJ, AF, BAC, BKUNA, BNK, BRKL, C, CBMD, CHZ, FFFL, FNFG
, FULT, HCBK, HU, ICBC, IFCJ, ISBC, JPM, KRB, NAL, NFB, NWSB, NYB, PBCT, PFS, PFSB, PNC, RBS, ROME, SNBC, SOV, STI, TD, WB, WBS, WFC, YANB.
has not incurred any prepayment penalties relating to this debt.