NOW IS THE TIME: "The sooner we [invest internally], the better. Otherwise, you risk falling further behind and ... saddled with a lot more integration costs," Gary Crosby, First Niagara's CEO, says.

Bucking Industry Trend, First Niagara Looks to Spend

CEO Gary Crosby believes new technology will help the Buffalo, N.Y., company generate revenue more in line with being a large financial institution. But his $250 million investment pledge didn't sit well with investors who were hoping for cost-cutting.

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