Monday, November 23,  10:45 pm

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First Niagara Financial Group Inc. agreed Tuesday to buy 57 western Pennsylvania branches and $4.2 billion in deposits from PNC Financial Services Group Inc. The seller had to divest them as part of an agreement to win approval for its acquisition of National City Corp.

In a joint statement, the two banks said First Niagara would pay $3.2 billion in cash and allow PNC to keep about $839 million in performing business and consumer loans. The price on the deposits represents a premium of about 1.3%.

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