Up-and-Coming Fifth-Grade 'Entrepreneurs' Open the NASDAQ Stock Market on the 10th Anniversary of First Niagara's IPO
Four Students Join the Company's CEO at the NASDAQ MarketSite in Times Square After Writing Winning Essays on Businesses They Would Start to Help their Communities NEW YORK, April 14 /PRNewswire-FirstCall/ -- Four budding fifth-grade entrepreneurs opened the NASDAQ stock market with First Niagara Financial Group, Inc. (NASDAQ:FNFG) President and CEO John R. Koelmel to mark the financial services company's 10th anniversary as a public company on Monday, April 14.
Students from First Niagara's four Upstate New York regions wrote essays answering the question: "What new business would you start to help people in your community?" First Niagara selected the top essays from more than 400 submissions by fifth graders across the state. The winners and their parents received an all-expenses-paid trip to New York City, including transportation, hotel, sightseeing, and the market opening at the NASDAQ MarketSite in Times Square. In addition to the trip to New York City and attending the NASDAQ market opening, the winners earned $1,000 donations to their elementary schools from First Niagara for computer equipment, plus $250 personal savings accounts at their local First Niagara Bank branches. "The students and their winning essays reflect the character of the communities we serve," Koelmel said. "Our customers are hard-working, community minded and optimistic people who live, work and run businesses in stable and conservative markets across Upstate New York. I am very proud to have these outstanding young men and women with me in New York City to represent their hometowns as we commemorate First Niagara's 10th anniversary as a NASDAQ-listed company."
FOUR WINNING ESSAYS Lauren Juliana Litz, 11, of Niskayuna wrote of helping the environment, victims of house fires and theft, and "people who just look like they need help" by using the Web to get them unused clothes, toys and other items. "With nothing going to the landfill," she wrote, "it is a win-win situation for everyone." She would name her business People Helping Other People Save the Environment (PHOPSE). Lauren was accompanied at the NASDAQ MarketSite by parents Joseph and Holly Litz and First Niagara's Eastern New York Regional President Thomas L. Amell. Griffin Lenkiewicz, 10, of Baldwinsville thought "it would be great to have a business in our community that helped older people live independently." His grandparents inspired him to come up with Granny Gophers to "run errands for older people and help drive them to their appointments." Griffin was accompanied by parents Michael and Lynn Lenkiewicz and Central New York Regional President Gregory L. Gilroy. Brooke Testa, 11, of Rochester was so moved by her experience as a Special Olympics volunteer that she would create a "year-round sports facility for people with disabilities ... . Bringing children with disabilities and the community together through this sports facility would no longer be a special event; it would be an equal opportunity for all." Brooke was accompanied by parents William and Christine Testa and Rochester Regional President Patrick C. Burke. Bradley Schneider, 10, of Lockport doesn't have a driver's license, but knows that "people don't have enough money to continue buying gas. He wrote, "At my gas station ... people could donate items to reduce the price (they pay for) gas." The community would not only benefit from lower fuel prices, he explained, but from the low-cost clothing, toys, food, electronics and, of course, video games that he would sell. Bradley was accompanied by parents Tom and Mary Schneider and Western New York Regional President Daniel E. Cantara. FOUR WINNING MARKETS First Niagara's 10th anniversary as a public company coincides with the most challenging operating environment the banking industry has faced in more than a decade. Yet the company, a NASDAQ Financial-100 Index component, benefits from operating in four stable Upstate New York markets, maintaining disciplined credit policies and a strong capital position, and having no subprime exposure in its loan or investment portfolios. "In 10 years as a public company we've grown from a one-market bank with less than $1 billion in assets to a leading community bank and financial services company across Upstate New York with $9 billion in assets," Koelmel said. "We're building on First Niagara's market strength in the regions we serve and expanding our franchise by delivering a great customer experience through the passion, expertise and creativity of our employees. "As we approach our second decade as a public company, First Niagara will continue to fill an important gap in our markets, which we believe is underserved by both very large and very small competitors," Koelmel added. "We have the capital strength to continue to invest in our best opportunities to profitably grow the business, while maintaining the discipline that sets First Niagara apart."
ABOUT FIRST NIAGARA First Niagara Financial Group, Inc., through its wholly owned subsidiary First Niagara Bank, has assets of $9.1 billion and deposits of $6.2 billion. First Niagara Bank is a full-service, community-focused bank that provides financial services to individuals, families and businesses through 115 branches and four Regional Market Centers across Upstate New York. For more information, visit www.fnfg.com. First Call Analyst:
CONTACT: Lisa Dipietro, +1-631- 495-5020 Cell, lisa.dipietro@fnfg.com, Web site: http://www.fnfg.com/ NOTE TO EDITORS: News Desks: The students' essays, biographies, high- resolution photos of the NASDAQ market opening and rules and other information about the contest are available at http://www.fnfg.com/nasdaq.asp
2008-04-14 20:01:26 0335518 PRNEWSWIRE
HOME || Press Release Archive || © Leigh Media Corporation || Terms of Use || Privacy Policy || Publish Your Press Release Here |