Buffalo, New York based First Niagara Bank with branches ranging from Buffalo to downtown New Haven is being sold to Ohio based Keybank for $4 Billion. First Niagara had previously bought New Haven based. New Alliance had been created to take over the New Haven Savings Bank and merge it with the Manchester Savings Bank in 2004. Taking New Haven Savings public was hugely controversial at the time. Several weeks ago First Niagara's landmark building in New Haven was sold for $18 million to local developer Paul Denz, who said he will be renovating the structure.
Several business outlets report a deal for $45 billion is imminent. CNBC Confirms