John Koelmel, CEO of First Niagara bank is resigning from that job effective immediately, and the Board of Directors has appointed Gary Crosby as interim president and CEO.

A statement from the bank says that the change comes as a result of the mutually agreed upon departure of Koelmel. Koelmel has been CEO since 2006.

Board Chairman Thomas Bowers said the company is grateful to Koelmel for his leadership through a critical period in its history. Koelmel said in a statment that he highly values the opportunity he had to have driven First Niagara's rapid growth over the last six years.

He said that " I agree with the board that it's in the best interests of the organization under present circumstances to move forward with new leadership."

Crosby joined First Niagara in 2009, and has recently been Executive Vice President and Chief Administrative and Operating Officer.