First Niagara Financial Group Inc. is set to become the largest bank in Western New York with the pending purchase of 195 retail branches – including approximately 70 in the region’s eight counties – from HSBC Holdings PLC for $1 billion in cash. The deal between the two banks, expected to close in early 2012, was announced Sunday afternoon, one day before HSBC is expected to announce thousands of layoffs as part of its $3.5 billion global cost-cutting strategy. The majority of the 1,900 people who work at the 195 branches “are expected to be retained by First Niagara and other financial institutions” that buy branches that First Niagara must sell, First Niagara said Sunday…

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