Rochester Business Journal

• Money Managers
  Information was provided by individual money management firms that responded to an email or fax survey. Ranked by total assets managed locally as of Dec. 31, 2012
• Bonadio & Co. to acquire Vermont company
  Bonadio & Co. LLP will acquire a bank internal auditing business in Vermont, its first out-of-state acquisition, the Perinton-based accounting firm said Tuesday.
• Five Star Bank parent sees profit decline in Q1
  Financial Institution Inc. shares were down nearly 2 percent Thursday midday after the company announced a decline in net income for the first quarter and missed analysts’ earnings estimates by 2 cents.
• Northwest Bancshares reports net income up 8%
  Northwest Bancshares Inc., parent of Northwest Savings Bank in the Rochester market, on Monday reported a rise in net income in the first quarter.
• Lyons National to open Canandaigua office
  Lyons National Bank will open an office in Canandaigua on Monday, officials announced Thursday.
• Workshop scheduled for bank board directors
  The Office of the Comptroller of the Currency has scheduled a workshop in Syracuse in May to provide information on participation requirements of bank boards.
• First Niagara CEO Koelmel resigns
  John Koelmel, who guided First Niagara Financial Corp. on a multi-state expansion over the last four years, has resigned as president and CEO, bank representatives announced late Tuesday afternoon.
• Bonadio, Freed Maxick among largest U.S. accounting firms
  Two accounting firms with a significant presence in Rochester are among the 100 largest nationally on the annual list released this week by Accounting Today.
• Kodak loss in January 40% lower than a year ago
  Eastman Kodak Co. on Thursday reported a net loss of $58.1 million in January on sales of $127.9 million for its companies in bankruptcy. Its loss from continuing operations totaled $57.2 million.
• First Niagara adds options for small businesses
  First Niagara Financial Group Inc. said Tuesday it has added two checking options for small businesses.
• Manning & Napier sees profit rise slightly in fourth quarter
  Manning & Napier Inc. on Wednesday reported quarterly economic net income of nearly $25 million, or 28 cents a share, up 1 percent from $24.7 million a year ago matching Wall Street estimates on a per-share basis.
• Community Bank sees dip in Q4 net income
  The parent of Community Bank N.A. reported quarterly net income of $18.8 million, or 47 cents a share, down 1 percent from a year ago.
• First Niagara profit dips in Q4
  First Niagara Financial Group Inc. on Wednesday reported an 8.5 percent drop in net income for the fourth quarter.
• Northwest Bancshares sees profit rise in Q4
  Northwest Bancshares Inc., parent of Northwest Savings Bank in the Rochester market, Tuesday reported a profit of $16.3 million, or 18 cents a share, in the fourth quarter.
• First Niagara to make pre-tax adjustment
  First Niagara Financial Group Inc. will adjust its pre-tax earnings by $16 million, or 3 cents a share, to accelerate premium amortization on its collateralized mortgage obligations, the bank announced Wednesday.
• M&T Bank Q4 profit surges
  M&T Bank Corp., the market share leader in deposits in Rochester, recorded big growth in the fourth quarter.
• Credit union to open in site donated by First Niagara
  Lexington Avenue Federal Credit Union plans to open a second location in former HSBC Bank USA N.A. offices donated by First Niagara Financial Group Inc., officials announced Tuesday.
• Generations Bank plans new headquarters
  Generations Bank is in the final stages of purchasing property in Seneca Falls for its new headquarters.
• Region's CPAs expect little change in conditions
  Some 71 percent of CPAs from the Rochester area surveyed say business conditions in New York will be unchanged in 2013, with 16 percent predicting a decline, a trade association poll found.
• Reports: Bausch & Lomb hires Goldman to explore sale
  Bausch & Lomb Inc. appears to be on the market. The Wall Street Journal and Bloomberg report the company has hired investment bank Goldman Sachs Group Inc. to explore a sale after receiving informal expressions of interest from several large health care companies. The articles cite unnamed people familiar with the matter. The eye-care company reportedly is hoping to command a price of at least $10 billion.

RBJ Headlines

• IP law group to honor Welch Allyn engineer
• COMIDA OKs tax breaks for facility for eHealth Technologies
• Transcat shares climb on higher sales, profits
• Burns ranks among world's most powerful women
• Cuomo pitches business tax-free zones near SUNY schools