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First Niagara reports earnings dip

First Niagara Financial Group recorded first-quarter net income of $51.4 million, down from $60.2 million a year ago.

The Buffalo-based bank had diluted earnings per share of 12 cents, compared to 15 cents a year ago.

“Our first-quarter results demonstrate our strong core business fundamentals and the progress we are making to provide a faster, easier, simpler and more secure banking experience for our customers, which will drive increased value for our shareholders,” said Gary M. Crosby, president and CEO, in a statement.