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First Niagara Financial Group, Inc. (FNFG)
Banking Financial Services Conference
November 13, 2012 11:20 a.m. ET
John Koelmel -- President and CEO
Greg Norwood -- CFO
Previous Statements by FNFG
» First Niagara Financial Group's CEO Discusses Q3 Results - Earnings Call Transcript
» First Niagara's CEO Presents at Barclays Capital Global Financial Services Conference (Transcript)
» First Niagara Financial Group's CEO Discusses Q2 2012 Results - Earnings Call Transcript
Okay. Thank you very much, Erica. It’s good to be here for our first time. So, thank you very much for the invite and hosting us. Right, I think the same last year, we were going to act together to save some capital into effectively funded that last transaction. So, it’s a pleasure to be here this time around and continue to impart our views to, how we are navigating the new model obviously, so starts of continuing discussion, feel I had two more days, today we’re the challenges are on past entity continuing. But as always we enjoy the challenge and think that the winners would be more readily identified as a result and their confident that are positioned profile and performance in the years ahead we’ll again positively differentiate us from the pack.
My comments today went off a little bit or just over America, we’ll further what you have heard from us throughout 2012. The essences are very much like the business we’ve built and the footprint within which we operate given that this is the first time in my tenure that the company is now completely and totally focused on running the business we already have, we are sure all of them are excited to execute or further deliver real value for all of our constituents.
So, let me start by giving you a quick little recap of how we look at, who we are today. The business we’ve built with confidence that resolve that the Northeast is the right place to be, strong demographics, both commercial and retail, resilient economically with the right density, to be efficient and effective, can’t win if you’re a mile wide and an inch deep. So, now that we are very deliberate not to spread ourselves too far geographically instead focused on building out of footprint that we kind of efficiently leveraged.
We will add with our commercial team that was a very conscious decision. Our initial focus five or six years ago was on small or middle market businesses and the meltdown occurred in ‘08, ’09, we are able to well positioned to stepping further not only at that level, but also to move up market and compete very effectively against much bigger competition.
Our teams been punching above the weight as I’d like to say over since winning more then their share of the customer battles and so it’s life for the commercial market pipe continues to grow at industry leading level in spite of a stagnate toward best low growth overall market.
With a string of acquisition, we also now have a very solid retail distribution system more then 420 branches across four states with the benefit of HSBC transaction and market leading presence across Upstate New York. Again progressively competing although more effectively to take retail market share acquire new customers deepen relationships like the say win hearts and minds and then share wallet.
It’s all I would say we’re other then growing up as a full service commercial bank, no question. As you’ll see in a moment we’ve continued to have both capacity and competency with these transactions and we've to fully realize our potential within this environment and particular spells real opportunity everywhere we do business.
On wavering and consistent focus on the customer, throughout the crisis in ‘08, ‘09 has earned us incredible confidence wherever we do business. Our favorability ratings are very high, we help make good things happen, we’re real difference makers and a highly valued and positioned as a result that mean, the first Niagara brand is stronger than ever. That’s the outcome of assembling one of the best teams in the business, we accelerated a growth path to be around, we needed to been there, done that team; sure we continue to develop our legacy talent. But we recruited a team of leaders and managers from competitors across the country and around our region that are excited they have the opportunity to help us building grow our business and ensure our position for success both today and tomorrow.
And we haven’t got ahead of ourselves, ran out of worst keys, we’re in very good standing with our regulators and have a very scalable business model all because of the team we’ve assembled.
But consolidate of the footprint with franchises has well positioned as we are is terrific as the team perform, you know, we’ve been to deliver even better results to do that by totally focusing on the business we have today, being all the more effective and efficient with all that we do, create that operational excellence, and let’s talk about to deliver solid consistent and improve results and returns.