Financial Institutions, Inc. (NASDAQ: FISI), the parent of Five Star Bank, has declared a quarterly cash dividend of 19 cents per outstanding common share.
The dividend is payable on Jan. 2, to shareholders of record as of Dec. 12.
The payment is the same amount the banking company paid last quarter, when it boosted its dividend by one penny a share from the prior quarter.
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Financial Institutions provides financial services through its subsidiaries, Five Star Bank and Five Star Investment Services, Inc. Five Star Bank has more than 50 offices in Western and Central New York. Nine of the branches are in the 16-county Central New York area, where Five Star Bank has $288 million in deposits and a 1.1 percent market share, according to FDIC data.
Five Star Investment Services provides investment advice, brokerage and insurance products and services within the same New York state markets as the bank.
Financial Institutions — headquartered in Warsaw, NY (nearly 40 miles east of Buffalo) — and its subsidiaries employ more than 600 people.
Contact Rombel at arombel@cnybj.com
