First Niagara Q1 Earnings Down, Misses Estimates

(RTTNews) - First Niagara Financial Group, Inc. (FNFG) reported lower earnings for the first quarter of 2014.

The net income available to common shareholders amounted to $51.9 million, or $0.15 per share compared with $59.7 million or $0.17 per share during the year-ago period.On average, 15 analysts polled by Thomson Reuters expected earnings per share of $0.17 for the quarter. Analysts' estimates typically exclude one-time items. Total net interest income increased to $270.7 million from $266 million, last year. However, total non-interest income was down to $76.7 million from last year's $89.3 million. Analysts estimated revenues of $363.18 million for the quarter. The company's estimated consolidated Total Risk Based capital and Tier 1 Common Risk Based capital ratios were 11.6 percent and 7.9 percent respectively.