WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), holding company of Five Star Bank, recently announced that its board of directors approved a quarterly cash dividend of 30 cents per share of its common stock outstanding.
The banking company will pay the second-quarter dividend on July 2, to shareholders of record on June 14.
At Financial Institutions’ current stock price, the dividend yields more than 6.8 percent on an annual basis.
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Five Star Bank, based in Warsaw in Wyoming County, has about 50 retail branches located throughout Western and Central New York. Its CNY branches include offices in Auburn, Waterloo, Geneva, Ovid, Horseheads, and Elmira.
Five Star Bank last year expanded into the Syracuse market with a new commercial-loan production office at 115 Solar St. in the city’s Franklin Square area.
Financial Institutions has about $6.3 billion in assets, offering banking and wealth-management products and services.
