Financial Institutions, Inc. Announces Quarterly Cash Dividend
May 27 2020 - 4:05PM
Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), parent
company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”),
Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP
Capital”), announced today that its Board of Directors has approved
a quarterly cash dividend of $0.26 per outstanding common share.
The Company also announced dividends of $0.75 per share on its
Series A 3% preferred stock and $2.12 per share on its Series B-1
8.48% preferred stock. All dividends are payable July 2, 2020, to
shareholders of record on June 12, 2020.
About Financial Institutions,
Inc.
Financial Institutions, Inc. provides
diversified financial services through its subsidiaries Five Star
Bank, SDN, Courier Capital and HNP Capital. Five Star Bank
provides a wide range of consumer and commercial banking and
lending services to individuals, municipalities and businesses
through a network of more than 50 offices throughout Western and
Central New York State. SDN provides a broad range of
insurance services to personal and business clients. Courier
Capital and HNP Capital provide customized investment management,
investment consulting and retirement plan services to individuals,
businesses, institutions, foundations and retirement plans.
Financial Institutions, Inc. and its subsidiaries employ
approximately 700 individuals. The Company’s stock is listed
on the Nasdaq Global Select Market under the symbol
FISI. Additional information is available at
www.fiiwarsaw.com.
Safe Harbor Statement
This press release may contain forward-looking
statements as defined by Section 21E of the Securities
Exchange Act of 1934, as amended, that involve significant risks
and uncertainties. Statements herein are based on certain
assumptions and analyses by the Company and factors it believes are
appropriate in the circumstances. Actual results could differ
materially from those contained in or implied by such statements
for a variety of reasons including, but not limited to: the
Company’s ability to implement its strategic plan, whether the
Company experiences greater credit losses than expected, whether
the Company experiences breaches of its, or third party,
information systems, the attitudes and preferences of the Company’s
customers, the Company’s ability to successfully integrate and
profitably operate SDN, Courier Capital, HNP Capital and other
acquisitions, the competitive environment, fluctuations in the fair
value of securities in its investment portfolio, changes in the
regulatory environment and the Company’s compliance with regulatory
requirements, changes in interest rates, and general economic and
credit market conditions nationally and regionally. Consequently,
all forward-looking statements made herein are qualified by these
cautionary statements and the cautionary language in the Company’s
Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and
other documents filed with the SEC. Except as required by law,
the Company undertakes no obligation to revise these statements
following the date of this press release.
For additional information
contact:Shelly J. Doran(585)
627-1362sjdoran@five-starbank.com
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