Five Star Bank parent increases quarterly dividend by 4 percent

WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent of Five Star Bank, recently announced it is boosting its quarterly dividend by 4 percent.

The banking company will pay a quarterly cash dividend of 26 cents a share per common share outstanding for the first quarter, up from the 25 cents a share it paid for the fourth quarter.

Financial Institutions said it will pay the new, higher dividend on April 2, to shareholders of record on March 19.

“Today’s announcement represents our 10th consecutive year of dividend growth. The dividend increase reflects continued confidence in the Company’s outlook by our Board of Directors and management and demonstrates a strong commitment to this component of the shareholder experience,” Martin K. Birmingham, Financial Institutions president and CEO, said in a Feb. 27 statement.

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.