WASHINGTON — The Federal Reserve said it has approved a Buffalo, N.Y., company's request to become a bank holding company.
The Fed on Friday said it approved the application of First Niagara Financial Group Inc.
First Niagara had requested to become a bank holding company by acquiring Harleysville National Corp.
First Niagara is a savings and loan holding company that owns First Niagara Bank. Company assets total $14.6 billion.
Harleysville has assets of $5.2 billion. It controls Harleysville National Bank and Trust Company.
