Five Star Bank parent announces new officers

Financial Institutions, Inc. (NASDAQ: FISI), the parent of Five Star Bank, has named Kevin B. Klotzbach as chief financial officer and executive vice president in addition to his current role as treasurer, effective immediately.

In addition, the banking company has appointed Michael D. Grover, CPA, to the newly established post of chief accounting officer.

Karl F. Krebs, who has served as CFO since October 2009, will remain with the company through a brief transition period, the firm said.

Klotzbach has served as senior vice president and treasurer of Five Star Bank since 2001. From 1999 to 2001, he was the chief investment officer at Greater Buffalo Savings Bank. Earlier in his career, he held various executive, portfolio management and risk-management positions with KeyBank, Empire Federal Savings Bank, and Merrill Lynch Asset Management. A native of Western New York, he holds a bachelor’s degree in economics from Buffalo State College.

Grover most recently was senior vice president, financial reporting and tax for Five Star Bank, which he joined in 1999 as a senior accountant. A longtime Western New York resident, he previously held public accounting positions with Battaglia, Andrews and Moag, which is now Freed Maxick, and KPMG. He earned his bachelor’s degree in accounting from SUNY Geneseo.

Financial Institutions, Inc., which has $2.7 billion in total assets, and Five Star Bank are headquartered in the town of Warsaw in Wyoming County. Five Star Bank serves Central New York through branch offices in Horseheads, Elmira, Elmira Heights, Geneva (3 branches), Waterloo, Ovid, and Auburn.