The merger of New-York-based First Niagara Financial Group and Ohio-based KeyCorp has secured the green light from the shareholders of both companies.
The combined bank will manage about $99.8bn in deposits, $83.6bn in loans and operate with 1,366 branches across 15 states.
Go deeper with GlobalData
With about $135bn in assets, the combined entity will become the 13th largest commercial bank in the US.
The cash-stock deal worth about $4.1bn was announced in October 2015. The deal is expected to close during the third quarter of 2016, subject to regulatory approvals.
KeyCorp chairman and CEO Beth Mooney said: "KeyBank and First Niagara are indeed Better Together – a powerful combination that will bring a new level of capabilities and expertise to our clients; new opportunities for our employees; and even greater investment in our communities. Our integration efforts are on track, and we remain both confident in and committed to achieving the financial and growth targets of the First Niagara acquisition."
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
