First Niagara Financial Q4 Profit Rises - Quick Facts

(RTTNews) - First Niagara Financial Group Inc. (FNFG) reported that its fourth quarter of 2013 net income available to common shareholders increased to $70.1 million, or $0.20 per share from last year's $53.6 million, or $0.15 per share, reflecting stable net interest margin, balance sheet growth and positive operating leverage.

On an operating basis, earnings per share was $0.20 compared to $0.19 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.20 per share for the quarter. Analysts' estimates typically exclude special items.

The prior year quarter result included a $16 million pre-tax accelerated premium amortization charge on the company's Collateralized Mortgage Obligations (CMO) portfolio and $3.7 million in pre-tax acquisition and restructuring expenses incurred primarily in connection with the closing of the HSBC branch acquisition in May 2012.

Net interest income for the quarter improved to $280.3 million from the prior year's $252.3 million. Noninterest income was $89.3 million, down from $91.8 million last year.