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8-K - LIVE FILING - FINANCIAL INSTITUTIONS INC | htm_45862.htm |
NEWS
For Immediate Release
Contact: Karl F. Krebs, Chief Financial Officer
220 Liberty Street, Warsaw, N.Y. 14569
(585) 786-1125
kfkrebs@fiiwarsaw.com
Financial Institutions, Inc. Declares Cash Dividend
WARSAW, N.Y., August 22, 2012 Financial Institutions, Inc. (NASDAQ: FISI) (the Company) announced today that its Board of Directors has declared a quarterly cash dividend of $0.14 per share of outstanding common stock. 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 2, 2012 to shareholders of record on September 12, 2012.
Our strong capital position, as well as our confidence in the opportunities for future growth, underlie our decision to declare this level of quarterly cash dividend payouts to shareholders, said Peter G. Humphrey, President and Chief Executive Officer of Financial Institutions, Inc. and Five Star Bank. Weve increased our quarterly cash dividend three times since the start of 2011, reflecting our desire to reward shareholders with increasing and highly competitive returns on their FISI stock.
About Financial Institutions, Inc.
With over $2.6 billion in assets, Financial Institutions, Inc. provides diversified financial
services through its subsidiaries, Five Star Bank and Five Star Investment Services, Inc. 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 70 ATMs in Western
and Central New York State. Five Star Investment Services provides brokerage and insurance products
and services within the same New York State markets. Financial Institutions, Inc. and its
subsidiaries employ over 600 individuals. The Companys stock is listed on the NASDAQ Global
Select Market under the symbol FISI. Additional information is available at the Companys website:
www.fiiwarsaw.com.
Safe Harbor Statement
This press release may contain forward-looking statements as defined by federal securities laws.
These statements may address issues that involve significant risks, uncertainties, estimates and
assumptions made by management. Actual results could differ materially from current beliefs or
projections. There are a number of important factors that could affect the Companys
forward-looking statements which include its ability to implement its strategic plan, its ability
to redeploy investment assets into loan assets, whether it experiences greater credit losses than
expected, the attitudes and preferences of its customers, its ability to successfully integrate
recently acquired bank branches and profitably operate newly opened bank branches, the competitive
environment, fluctuations in the fair value of securities in its investment portfolio, changes in
the regulatory environment and general economic and credit market conditions nationally and
regionally. For more information about these factors and other factors that could affect the
Companys forward-looking statements, please see the Companys Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q on file with the SEC. All of these factors should be carefully
reviewed, and readers should not place undue reliance on these forward-looking statements. Except
as required by law, the Company undertakes no obligation to revise these statements following the
date of this press release.
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