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First Niagara's top accountant Ciroli resigns, interim named

Rochester Business Journal
July 29, 2014

The top accountant at First Niagara Financial Group Inc. has resigned, the Buffalo-based company announced in a regulatory filing.

James Ciroli—senior vice president and corporate controller, and principal accounting officer since February—will take an executive position with a financial institution beyond First Niagara’s geographic footprint, the filing states.

Brian Dempsey, the bank’s director of finance accounting, will replace Ciroli as controller and principal accounting officer on an interim basis until a permanent replacement is found, the filing states.

Ciroli joined First Niagara as controller and principal accountant in November 2009. Before that, he was senior vice president and assistant controller at Huntington Bancshares Inc. in Columbus, Ohio.

Dempsey also joined First Niagara in November 2009, as first vice president and corporate reporting manager, the filing states. He became director of finance accounting in January 2013 and was responsible for all external reporting.

First Niagara last Friday reported net income of $66.2 million, or 19 cents per diluted share, for the second quarter. That is up 4 percent from $63.6 million, or 18 cents a share from a year ago. Earnings beat analyst estimates by a penny.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email

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