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Five Star Bank parent says CFO Klotzbach to retire

By Eric Reinhardt

Date:

WARSAW, N.Y. — The parent company of Five Star Bank says Kevin Klotzbach will retire as CFO on March 31, 2019.

He’ll continue serving as treasurer though the end of 2019, Financial Institutions, Inc. said in a news release issued Monday.

Kevin Klotzbach will retire as CFO of Warsaw, New York–based Financial Institutions, Inc., the parent company of Five Star Bank, on March 31, 2019. He’ll continue serving as treasurer through the end of 2019. (Photo credit: Financial Institutions website)

 “It has been an honor working with Kevin and I could not have asked for a better partner with his impressive breadth of knowledge and experience in banking, finance and treasury,” Martin Birmingham, president and CEO of Financial Institutions, said in the banking company’s news release. “As chief financial officer, Kevin has put our company on a stable financial foundation characterized by strong levels of liquidity and capital. An important milestone during his tenure as CFO was the expansion of our business model through the strategic acquisition of our fee-based businesses. Kevin’s leadership, focus on strategic priorities and the timing of this announcement will ensure a smooth and orderly transition that will help us continue our focus on driving strong results on behalf of shareholders.”

Klotzbach joined Five Star Bank in 2001 as vice president and treasurer. The company promoted him to senior VP in 2005 and named him executive VP, CFO, and treasurer of Five Star Bank and Financial Institutions in April 2013.

“The past 17 years have been some of the most rewarding of my career, due in large part to the talented people I have worked alongside with at Financial Institutions, Inc. and Five Star Bank,” Klotzbach said in the news release. “As CFO for the last five years, we have accomplished a lot in support of a strong shareholder experience including diversifying our business, growing the bank and strengthening our balance sheet. While I am looking forward to having more time to fulfill personal goals, I remain fully committed to assuring that our company thrives during a thoughtful and seamless transition.”

Financial Institutions, Inc. (NASDAQ:FISI) — headquartered in the town of Warsaw in Wyoming County — provides financial services through its subsidiaries Five Star Bank, Scott Danahy Naylon, LLC, and Courier Capital, LLC. It employs about 650 people total.

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

 

Contact Reinhardt at ereinhardt@cnybj.com

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