First Niagara Commercial Finance Names New Business Development Officer for Tri-State Region

First Niagara Commercial Finance, Inc. (FNCF), the asset-based lending arm of First Niagara Financial Group, Inc. (Nasdaq: FNFG), announced today that David Raphaels has joined the bank as First Vice President and Senior Business Development Officer. In his new role, Raphaels is responsible for developing new asset-based lending relationships with companies in the Metro New York, New Jersey, Connecticut, Hudson Valley and eastern Pennsylvania markets. He reports to FNCF National Director of New Business Development Keith Broyles, and will be located in First Niagara’s Tri-State Regional Office in Nyack, NY.

“We are thrilled to have a long-time asset-based lending professional of Dave’s caliber and experience level join our team. His passion for ABL will help us drive towards achieving our business growth goals in this important market,” said Broyles.

Mr. Raphaels brings to the bank 30 years of commercial lending and business development experience. He joins First Niagara having previously held similar positions at PNC Business Credit, CIT, Wells Fargo Capital Finance and People’s United Bank. He began his banking career as an Assistant National Bank Examiner with the Office of the Comptroller of the Currency in Pittsburgh, PA.

Mr. Raphaels holds an MBA from Lehigh University in Bethlehem, PA and a BS in Finance from Rider College, Lawrenceville, NJ. He resides in Basking Ridge, NJ with his family.

First Niagara Commercial Finance provides flexible asset-based lending solutions to companies for working capital, mergers and acquisition, recapitalizations, turnarounds, and restructurings; targeting companies with borrowing needs between $5 million and $35 million. Headquartered in Dedham, MA, with additional offices in Ohio, Pennsylvania and New York, FNCF serves customers throughout the eastern half of the United States.

About First Niagara

First Niagara, through its wholly owned subsidiary, First Niagara Bank, N.A., is a multi-state community-oriented bank with approximately 410 branches, $39 billion in assets, $27 billion in deposits, and approximately 5,900 employees providing financial services to individuals, families, and businesses across New York, Pennsylvania, Connecticut and Massachusetts. For additional information on First Niagara, visit us at www.firstniagara.com, follow us on Twitter @FirstNiagara, or like us on Facebook at FirstNiagaraBank.

First Niagara Contact

Karen Crane

Corporate Communication Manager

(203) 789-2752

Karen.crane@fnfg.com

Media contact:

Juliana Wynohradnyk

Thompson & Bender Public Relations

(914) 762-1900 ext. 24

juliana@thompson-bender.com