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Five Star Bank parent company completes $80 million subordinated debt offering
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, announced that it has recently completed a private placement of $80 million in aggregate principal amount of fixed-to-floating rate subordinated notes (maturing in 10 years) to qualified institutional buyers and accredited institutional investors. The notes have a maturity date of Dec. […]
New York manufacturing index ends 2025 in negative territory
Respondents to the monthly Empire State Manufacturing Survey indicated unexpected contraction in the manufacturing sector with the general-business conditions index plunging 23 points to -3.9 in December. This breaks a run of several strong months, as the index had climbed 8 points to 18.7 in November, its fourth positive reading in the past five months
Casullo appointed to M&T Bank Directors Advisory Council for CNY
SYRACUSE, N.Y. — M&T Bank recently announced it has appointed David Casullo, founder and CEO of Daneli Partners, to its Directors Advisory Council for Central New York. The 11-member council meets regularly to discuss business, customer, and community impact opportunities within Central New York and provides insights to support M&T’s ongoing efforts to develop locally
New York manufacturing index dives back into negative territory in December
The general-business conditions index of the Empire State Manufacturing Survey plunged 23 points to -3.9 in December. This breaks a run of several strong months,
Pyramid Management Group secures loans for Albany properties
SYRACUSE, N.Y. — The owner and operator of Destiny USA in Syracuse says it has secured a new five-year, $193 million CMBS (commercial mortgage-backed security)
KeyCorp pays 4th quarter 2025 dividend in mid-December
KeyCorp (NYSE: KEY) — parent company of KeyBank, the No. 3 bank ranked by deposit market share in the 16-county Central New York region — has declared a quarterly cash dividend of 20.5 cents per share of its common stock for the fourth quarter of this year. The dividend is payable on Dec. 15, to
Adirondack Bank moves Little Falls branch to new location
LITTLE FALLS, N.Y. — Adirondack Bank on Dec. 8 formally opened the doors to its new Little Falls branch at 699 E. Main St., located at the corner across from Eastern Park and the Little Falls Public Library. It replaces the bank’s previous Little Falls branch, located about one-third of a mile down the road
Community Bank appoints head of business banking credit and operations
ALBANY, N.Y. — Community Bank, N.A. announced it has hired Jeff Connolly as SVP, head of business banking credit & operations. Based in Albany, Connolly will lead Community Bank’s business-banking credit efforts. He will oversee the strategic direction and execution of credit-risk management and operational processes within the business banking division for the bank’s New
Small Business Saturday, Christmas & Crafts are set for the holiday weekend
With the holiday shopping season underway, the annual Small Business Saturday is set for this Saturday, Nov. 29, and Christmas & Crafts is scheduled Friday
Destiny USA owner secures loan funding for its Albany properties
SYRACUSE, N.Y. — Pyramid Management Group of Syracuse, which operates Destiny USA, on Monday said it has secured a new five-year, $193 million CMBS loan
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