Financial Institutions, Inc. Announces New, Growth-Centered Executive Structure for Five Star Bank
July 20 2016 - 4:36PM
In recognition of its current success, and in anticipation of
future growth, Five Star Bank (the “Bank”), a subsidiary of
Financial Institutions, Inc. (the “Company”) (NASDAQ:FISI), has
introduced a new organizational structure designed to further
accelerate its momentum serving communities across Western New
York.
- William Kreienberg, Executive Vice President, has been named
Chief Administrative Officer in addition to his existing role of
General Counsel and Chief Risk Officer for Five Star Bank. Prior to
joining Five Star Bank, Mr. Kreienberg was a partner with Harter
Secrest & Emery LLP.
- Jeffrey Kenefick, Executive Vice President, has been named
Chief Community, Commercial and Strategic Development Executive
responsible for identifying and building strategic relationships to
enhance revenue generating opportunities for the organization.
- Charles Guarino, Senior Vice President, has been named Chief
Retail Lending Executive. Mr. Guarino, a 21-year employee of
Five Star Bank, will have oversight of sales, underwriting and
collection activities within the bank’s indirect lending and
mortgage banking divisions.
- Joseph Dugan has joined the Bank as Senior Vice President,
Retail Growth and Profitability Executive. Prior to joining Five
Star Bank, Mr. Dugan served as Executive Vice President of Customer
Value Management for Canandaigua National Bank. At Five Star Bank,
he will oversee the retail branch network, marketing and the
customer banking center.
- The Bank is currently recruiting for a Chief Corporate
Development Executive, a position responsible for commercial
lending, merchant services, and our insurance and wealth management
subsidiaries.
Also continuing to serve on the senior
leadership team of the Bank are Kevin Klotzbach, CFO and Treasurer,
Paula Dolan, Director of Human Resources and Enterprise Planning
and Michael Burneal, Chief Information Officer.
“As Five Star Bank succeeds, it’s important that
our leadership structure continue to evolve in order to better
serve our customers and continue to provide enhanced value for our
shareholders,” said Marty Birmingham, President and CEO of
Financial Institutions, Inc. “These appointments strengthen an
already outstanding senior leadership team, reinforcing our
community bank heritage and achieving our goals of providing a
great place to work for our employees, great products and services
for our communities and customers, and excellent results for our
shareholders.”
In March, the Bank announced plans to move its
regional administrative center from Pittsford, N.Y. to 100 Chestnut
Street in Rochester, N.Y. which has been re-named Five Star Bank
Plaza. Approximately 150 employees, including the Bank’s regional
executive team, will move into the site by April 2017. The center
will include the Bank’s new branch concept, a Financial Solutions
Center, in the lobby of the building and a co-location of
information technology.
About Financial Institutions,
Inc.
Financial Institutions, Inc. provides
diversified financial services through its subsidiaries, Five Star
Bank, Scott Danahy Naylon and Courier Capital. Five Star Bank
provides a wide range of consumer and commercial banking services
to individuals, municipalities and businesses through a network of
over 50 offices and more than 60 ATMs throughout Western and
Central New York State. Scott Danahy Naylon provides a broad range
of insurance services to personal and business clients across 44
states. Courier Capital provides 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 and is a member
of the NASDAQ OMX ABA Community Bank Index. Additional
information is available at the Company’s website:
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 are 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, the Company’s
ability to redeploy investment assets into loan assets, 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 Scott Danahy Naylon and Courier Capital, 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, general economic and
credit market conditions nationally and regionally, and costs
associated with responding to the demands of an activist
shareholder. 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:
Investors:
Kevin B. Klotzbach
Executive Vice President, Chief Financial Officer & Treasurer
Phone: 585.786.1130
Email: KBKlotzbach@five-starbank.com
Jordan Darrow
Darrow Associates
Phone: 512-551-9296
Email: jdarrow@darrowir.com
News Media:
Brandonne Rankin
McDougall Communications
Phone: 585.313.3683
Email: brankin@mcdougallpr.com
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