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First Niagara is a banking and financing company that was established in western New York in the late 1800s At first the bank was known as Farmers and Mechanics Savings Bank but was then re-branded as Lockport Savings Bank in the late 1960s then switched yet again to First Niagara forty years later Within the past couple of years First Niagara has acquired major acquisitions including Harleysville National in Pennsylvania New Alliance in Connecticut and HSBC branches in upstate New York thus making them a viable component in the banking industry These mergers and acquisitions are considered horizontal same entities of business are being combined From their first development in Western New York to the increasing areas in the northeast their growth is only in the birth stages Thus their workforce is continually increasing with close to 500 banks and over 7000 employees In order to maintain the continuing increased workforce especially in rhe recent times of mergers and acquisitions the Human Resource department need to align their goals with the strategic objectives set by the company The acquisitions and merger period began in the late 1990s with the purchase the regional insurance brokerage firm Warren-Hoffman Associates Inc as a means of entering the insurance business While the bank entered into a new sector First Niagara did not expand their branches until almost twenty years later In 2007 the bank purchased Great Lakes Bancorp parent company of Greater Buffalo Savings Bank The acquisition of the Buffalo bank expanded their already geographical location of western New York with the 16 new branches and became the fourth largest bank in the region In order to compete with the various other banks in the area First Niagara decided to expand their geographical reach to other states while relatively close in the Erie region of Pennsylvania First Niagara began acquiring 57 out of 61 of the branches owned by National City in western Pennsylvania and 254 branches
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