First Niagara Financial Group, Inc. (NASDAQ: FNFG) named a new treasurer Thursday.
Jeffrey Maddigan, who has been with the banking company for 19 years, assumed his new role immediately. Maddigan was previously senior director of balance sheet strategy and oversaw the team responsible for the company’s investment portfolio, wholesale funding, capital management, and product pricing.
As treasurer, Maddigan will also be responsible for interest rate risk, capital, and liquidity management. He succeeds Michael Harrington, who left First Niagara earlier this year to become executive vice president and treasurer at Susquehanna Bancshares, Inc.
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First Niagara Bank is number four in the Syracuse–area deposit market with 21 branches, more than $808 million in deposits, and a market share of 7.53 percent. The bank is also number four in the Utica-Rome metro area with nine branches, $405.9 million in deposits, and a market share of nearly 11 percent, according to the latest statistics from the Federal Deposit Insurance Corp.
First Niagara is number two in the Binghamton–area deposit market with 10 branches, more than $342.5 million in deposits, and a market share of more than 12.8 percent.
The bank has $35 billion in assets and nearly 430 branches in upstate New York, Pennsylvania, Connecticut, and Massachusetts.
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