Five Star Bank Names Vito Caraccio Senior Vice President, Director Of Business Banking
July 29 2016 - 9:25AM
In a move to expand and deepen its small and mid-sized business
banking services, Five Star Bank (the “Bank”), a subsidiary of
Financial Institutions, Inc. (the “Company”) (NASDAQ:FISI), has
hired Vito Caraccio as Senior Vice President, Director of Business
Banking. In this newly-established role, Mr. Caraccio will have
oversight of small business lending, fee-based lines of
business-related cash management and merchant services. He will
also serve on the Bank’s Executive Loan Committee.
Prior to joining Five Star Bank, Mr. Caraccio
served First Niagara Financial Group as Senior Vice President,
Corporate Banking Team Leader in Rochester, N.Y. Previously, he was
Senior Vice President, Business Development Leader and Relationship
Manager for JP Morgan Chase of Western New York, and held executive
roles with KeyBank and FleetBoston Financial in Rochester, N.Y.,
the Bank of New York in White Plains, N.Y., and Chemical Banking
Corporation in New York City.
“We’re delighted to welcome Vito to Five Star
Bank,” said Martin K. Birmingham, President and Chief Executive
Officer of Financial Institutions, Inc. “His outstanding talent and
exemplary reputation as a commercial banker of the highest
integrity, energy, and passion for his customers will be a powerful
asset to Five Star’s small business lending and the community we
serve.”
Mr. Caraccio holds a bachelor of business
administration degree in finance from the University of Texas at El
Paso, and is a veteran of the United States Marine Corps. He serves
on the board of directors and as treasurer of the Veterans Outreach
Center and is a member of Rochester Rotary. He has served on the
executive boards of the Small Business Council and the Urban League
of Rochester. Additionally, he has been involved with the Greater
Rochester Chamber of Commerce, the Rochester International Business
Roundtable, the American Red Cross and United Way. He lives in
Fairport with his wife, Kristen, and their four children.
Mr. Caraccio joins Five Star Bank’s recently
announced growth-centered executive leadership structure, designed
to further accelerate its momentum serving communities across
Western New York.
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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