BUFFALO — The board of directors of First Niagara Financial Group, Inc. (NASDAQ: FNFG) announced it has appointed James R. Boldt as a director of the company and its subsidiary First Niagara Bank, N.A.
Boldt is chairman and CEO of Computer Task Group, Inc. (NASDAQ: CTG), a Buffalo–based international information-technology services firm that generated $424 million in revenue in 2012. He also serves as a director and the chairman of the audit committee of the board of directors of Sovran Self Storage, Inc. (NYSE: SSS), a Williamsville–based real-estate investment trust.
“We’re pleased to have a Western New Yorker with Jim’s decades of public company management and financial expertise joining First Niagara’s Board,” G. Thomas Bowers, chairman of Buffalo–based First Niagara, said in a news release. “Jim’s experience as a CFO, CEO and independent director is invaluable, and we look forward to benefitting from his contributions to the First Niagara Board as the bank executes its strategy for maximizing shareholder value through continued organic growth and enhanced efficiency and effectiveness.”
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With Boldt’s addition, First Niagara’s board has nine members.
First Niagara’s newest board member has served as CEO of CTG since 2001. He joined that firm as vice president of finance and chief financial officer in 1996.
Previously, he served as corporate vice president of finance, chief financial officer, and secretary of Pratt & Lambert United, Inc., where he spent 20 years as a finance and accounting executive until its merger with the Sherwin-Williams Company in 1996.
Boldt began his career with Deloitte & Touche and received his CPA certificate in 1975. He earned a master of business administration degree with a concentration in finance from Canisius College in Buffalo, and an additional concentration in applied information systems analysis at the State University of New York (SUNY) at Buffalo. He graduated cum laude from Niagara University with a bachelor’s degree in accounting.
First Niagara is a multi-state regional bank with about 420 branches, approximately $37 billion in assets, $27 billion in deposits, and about 6,000 employees across upstate New York, Pennsylvania, Connecticut, and Massachusetts.
First Niagara ranks number four in the Syracuse metro area deposit market with 21 branches, more than $808 million in deposits, and a deposit market share of more than 7.5 percent, according to June 30, 2012 statistics from the FDIC, the latest available.
The bank is also number four in the Utica–Rome market with nine branches, $406 million in deposits, and a market share of about 11 percent.
The bank is number two in the Binghamton market with 10 branches, $342.5 million in deposits, and a market share of 12.8 percent.
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