First Niagara Financial Group Inc. (FNFG) reported that its first-quarter net income available to shareholders increased to $59.7 million or $0.17 per share, from $54.8 million or $0.16 per share last year.
Net interest income rose to $266.1 million from $242.4 million last year. Noninterest income was $89.3 million, compared to $69.9 million last year. The company said its first-quarter results reflect continued organic loan growth, particularly in commercial lending, positive operating leverage driven by strong focus on expense management, and strong credit quality.
On average, 15 analysts polled by Thomson Reuters expected the company to report profit of $0.17 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $360.94 million for the quarter.
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