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Five Star Bank parent boosts dividend

By Journal Staff


PHOTO CREDIT: Five Star Bank website

WARSAW, N.Y. — Financial Institutions, Inc.,(NASDAQ: FISI), parent of Five Star Bank, recently announced that its board of directors approved a quarterly cash dividend of 25 cents a share.

That’s up 1 cent, or 4.2 percent, from the most recent quarterly cash dividend. The dividend is payable on April 2, to shareholders of record on March 15.

“We are pleased to announce the Board’s decision to increase the quarterly dividend to common shareholders. Today’s increase reflects confidence in the Company’s performance and outlook and reflects our commitment to increasing shareholder return,” Martin K. Birmingham, president and CEO of Financial Institutions, said in a news release.

Five Star Bank, based in Warsaw in Wyoming County, has more than 50 branches throughout Western and Central New York. Its CNY branches include offices in Auburn, Geneva (2), Seneca Falls, Elmira (2), and Horseheads.

Financial Institutions and its subsidiaries employ about 700 people.

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