First Niagara Financial Group Inc. (FNFG) Friday released the financial results for the third quarter ended 30th September 2012, reporting net income available to common shareholders, on GAAP basis, for the quarter was $50.8 million, or $0.14 per diluted share, lower than net income, on GAAP basis, of $57.0 million, or $0.19 per share, reported for the corresponding quarter last year.
Operating net income available for shareholders, on non-GAAP basis, for the third quarter was $66.5 million, or $0.19 per diluted share, lower than operating earnings of $73.6 million, or $0.25 per diluted share, reported for the same quarter last year.
On average, 16 analysts polled by Thomson Reuters expected earnings per share of $0.18 for the third quarter. Analysts' estimates typically exclude one-time items.
Net interest income for the third quarter, after provision for credit losses, increased to $247.4 million from $221.1 million reported for the year-ago quarter, while total noninterest income increased to $96.9 million from $68.7 million in the prior-year period. Analysts estimated revenues of $365.99 million for the quarter.
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