First Niagara Financial Posts Q3 Loss On Charges - Quick Facts

(RTTNews) - First Niagara Financial Group, Inc. (FNFG) reported a third-quarter net loss available to shareholders of $665 million, or $1.90 per share. Results included a non-cash goodwill impairment charge of $800 million, as well as a pretax $45 million reserve to address a process issue related to certain customer deposit accounts. For the third quarter of 2013, net income available to common shareholders was $71.6 million, or $0.20 per share.

Excluding charges, operating net income available to common shareholders was $63.3 million, or $0.18 per share, for the third quarter of 2014.

On average, 15 analysts polled by Thomson Reuters expected the company to report profit per share of $0.18 for the quarter. Analysts' estimates typically exclude special items.

Operating revenues were $349 million; down 1% from the prior quarter. Analysts expected revenue of $360.43 million for the quarter.

First Niagara Financial Group, Inc. announced its Board has declared a quarterly dividend of $0.08 per share on outstanding FNFG common stock.