October 1, 2009 (FinancialWire) — First Niagara Financial Group, Inc. (NASDAQ: FNFG) said it has raised $460.1 million through a public offering by issuing 38.341 million shares of common stock, including 5.001 million shares due to the exercise of the underwriters’ over-allotment option.

The net proceeds of the offering were around $441.5 million. Keefe, Bruyette & Woods, Inc. and Sandler O’Neill + Partners, L.P. acted as joint book- running managers for the offering.

With the latest offering, First Niagara has raised nearly $1 billion of equity capital since the fourth quarter of 2008, including two stock offerings in April 2009 and October 2008, raising $380 million and $115 million, respectively.

Lockport, New York-based First Niagara Financial provides financial services through 170 branches and five regional market centers across Upstate New York and Western Pennsylvania.

Earlier in the year, First Niagara launched the acquisition of Harleysville National and its $5.6 billion in assets and 83 branches in the Philadelphia area.

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