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Banks & Credit Unions

Charges yield lower net income at First Niagara

Charges related to collateralized mortgage obligations and job cuts helped push profit lower at First Niagara Financial Group, Inc. in the fourth quarter. Net income available to common shareholders at Buffalo–based First Niagara (NASDAQ: FNFG) totaled $53.5 million, or 15 cents a share, for the period. That’s down from $58.5 million, or 19 cents a

INVESTMENT Q&A

Editor’s note: The Investment Q&A feature will appear regularly in the Banking & Wealth Management special reports of The Central New York Business Journal, spotlighting area investment professionals and their views on the markets and investments. In this issue, Jim Burns, president of J.W. Burns & Company in DeWitt, chatted with Adam Rombel, editor-in-chief, via

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New president takes over at Geddes Federal

GEDDES — Growing the customer base in the Manlius area is one of the top priorities for the new president at Geddes Federal Savings and Loan Association. Brian DuMond took over leadership at Geddes Federal effective at the start of 2013. He succeeds William Hemmerlein, who retired at the end of 2012. DuMond joined Geddes

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