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First Niagara Financial to add 500 jobs

BUFFALO — First Niagara Financial Group says it will create 500 well-paying new jobs over the next five years in New York.

The Buffalo-headquartered bank says Monday the new jobs will be located in western New York and across the rest of Upstate.

First Niagara is receiving $5.7 million in state tax credits from the Empire State Development Corp.

The company’s been growing rapidly over the past two years, with the number of braches increasing from 170 to 346. Right now, it employs about 2,500 people.

In April, First Niagara closed on its purchase of NewAlliance Bancshares and reported first-quarter profits rose 55 percent.