RJ and Makay

SNL Financial’s quarterly release of the 50 biggest banks and thrifts in the U.S. by assets revealed just what a takeover can do with to a bank ranking. First Niagara Financial Group’s acquisition of NewAlliance Bancshares, Inc., worth $1.15  billion, propelled the regional bank up from number 46 to number 38 among the largest 50. First Niagara’s acquisition of NewAlliance will increase its balance sheet by 42%, plus expands its presence into Connecticut and Massachusetts.  Currently, First Niagara Financial serves upstate New York and western and eastern Pennsylvania. The deal is expected to close in the second quarter of 2011.