Financial Institutions announces common stock offering, no amount given

Financial Institutions (FISI), parent company of Five Star Bank and Courier Capital, announced today that it has launched an underwritten public offering of shares of its common stock. The company intends to use the net proceeds from this offering for general corporate purposes which may include a balance sheet restructuring through the repositioning of a substantial portion of our available-for-sale debt securities portfolio to support continued growth as well as the repayment of indebtedness. Keefe, Bruyette & Woods, Inc., A Stifel Company is serving as the sole bookrunner for the offering, and Piper Sandler & Co. is acting as the co-manager.