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8-K - LIVE FILING - FINANCIAL INSTITUTIONS INC | htm_54961.htm |
Exhibit 99.1
Financial Institutions, Inc.
FOR IMMEDIATE RELEASE
Financial Institutions, Inc. Announces Withdrawal of
Common Stock Offering
WARSAW, N.Y. May 18, 2017 Financial Institutions, Inc. (NASDAQ:FISI) (the Company), the parent company of Five Star Bank, Scott Danahy Naylon, LLC and Courier Capital, LLC, today announced that it has withdrawn its previously announced underwritten public offering of $40.0 million of its common stock. The offering was withdrawn because of the unstable conditions in the U.S. capital markets over the last several days, which the Company believes are not conducive to completing a successful public offering at this time.
About Financial Institutions, Inc.
Financial Institutions, Inc. provides diversified financial services through its subsidiaries Five
Star Bank, Scott Danahy Naylon, LLC (SDN) and Courier Capital, LLC (Courier 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 and 60 ATMs throughout
Western and Central New York State. SDN provides a broad range of insurance services to personal
and business clients across 45 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 650 individuals. The Companys stock is listed on the Nasdaq Global Select Market
under the symbol FISI. Additional information is available at www.fiiwarsaw.com.
Forward-Looking Statements
Statements contained in this press release which are not historical facts constitute
forward-looking statements within the meaning of the Private Securities Litigation Reform Act of
1995. Similarly, statements that describe the objectives, plans or goals of the Company are
forward-looking. These forward-looking statements can generally be identified as such by the
context of the statements, including words such as believe, expect, anticipate, plan,
may, would, targeting, intend, outlook, estimate, guidance and other similar
expressions, whether in the negative or affirmative. These forward-looking statements involve
significant risks and uncertainties. All forward-looking statements made herein are qualified by
the cautionary language in the Companys Annual Report on Form 10-K and other documents filed with
the SEC. These documents contain and identify important factors that could cause actual results to
differ materially from those contained in our projections or forward-looking statements. Except as
required by law, the Company assumes no obligation to update any information presented herein.
###
For additional information contact: |
Shelly J. Doran
(585) 627-1362
sjdoran@five-starbank.com