Financial Institutions, Inc. Announces Quarterly Dividend
August 29 2016 - 4:15PM
Financial Institutions, Inc. (the “Company”) (NASDAQ:FISI)
announced today that its Board of Directors has approved a
quarterly cash dividend of $0.20 per outstanding common
share. The Company also announced dividends of $0.75 per
share on Series A 3% preferred stock and $2.12 per share on series
B-1 8.48% preferred stock. All dividends are payable October
3, 2016 to shareholders of record as of September 12, 2016.
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 StatementThis 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 contact:
Kevin B. Klotzbach
Executive VP, Chief Financial Officer & Treasurer
Phone: 585.786.1130
Email: KBKlotzbach@five-starbank.com
Shelly J. Doran
Director - Investor and External Relations
Phone: 585.627.1362
Email: SJDoran@five-starbank.com
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