Five Star Bank

Financial Institutions, Inc. Schedules Third Quarter 2023 Earnings Release and Conference Call

Retrieved on:

Monday, October 2, 2023

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WARSAW, N.Y., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, will release results for the third quarter ended September 30, 2023 after the market closes on October 26, 2023.

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WARSAW, N.Y., Oct. 02, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, will release results for the third quarter ended September 30, 2023 after the market closes on October 26, 2023.
Management will host an earnings conference call and audio webcast on October 27, 2023 at 8:30 a.m. Eastern Time.
The call will be hosted by Martin K. Birmingham, President and Chief Executive Officer, and W. Jack Plants II, Chief Financial Officer and Treasurer.
Within the United States, listeners may also access the call by dialing 1-833-470-1428 and providing the access code 057589.

Financial Institutions, Inc. Announces Controller Retirement and Internal Appointment

Retrieved on:

Wednesday, September 20, 2023

Over the succeeding six months the responsibilities of the Controller function will be transitioned to Sandra L. Byers, who has been promoted to Deputy Controller effective October 2, 2023.

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Over the succeeding six months the responsibilities of the Controller function will be transitioned to Sandra L. Byers, who has been promoted to Deputy Controller effective October 2, 2023.
Ms. Dumbleton has served as Controller of the Company and Bank since 2006.
She previously served as Corporate Secretary of the Company and Bank from 2013 to 2018.
She held various positions in finance, accounting and internal audit at Five Star and its predecessor banks from 1984 to 2005.

Blake Jones Named Chief Marketing Officer of Five Star Bank

Retrieved on:

Monday, September 18, 2023

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ROCHESTER, N.Y., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank (“Five Star” or the “Bank”), SDN Insurance Agency, LLC, and Courier Capital, LLC announced that Blake Jones has joined as Senior Vice President, Chief Marketing Officer of the Bank.

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ROCHESTER, N.Y., Sept. 18, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank (“Five Star” or the “Bank”), SDN Insurance Agency, LLC, and Courier Capital, LLC announced that Blake Jones has joined as Senior Vice President, Chief Marketing Officer of the Bank.
In this role, Ms. Jones will support development of the strategic framework and long-term vision for the Bank.
She will lead both marketing and analytics on an enterprise-wide basis, focusing on strategy, brand and performance marketing, and audience insights.
Ms. Jones will report to Justin K. Bigham, Executive Vice President, Chief Community Banking Officer.

Five Star Bancorp Announces Addition of San Francisco Bay Area Commercial Banking Team

Retrieved on:

Tuesday, September 5, 2023

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The Company is adding to an existing team of proven Bay Area professionals led by DJ Kurtze, Five Star Bank’s San Francisco Bay Area Region President, to execute on the acquisition and retention of new clients.

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The Company is adding to an existing team of proven Bay Area professionals led by DJ Kurtze, Five Star Bank’s San Francisco Bay Area Region President, to execute on the acquisition and retention of new clients.
Five Star expects to open a full service office in, or around, the San Francisco Financial District in the coming months.
“We are building momentum in the San Francisco Bay Area as we welcome a team of four well-respected and highly experienced professionals who will enhance our expansion efforts in the Bay Area,” said Chief Executive Officer, James Beckwith.
We have the high-tech banking solutions demanded by Bay Area customers, along with a high-touch and relationship-focused business model our customers value and trust.

KBRA Releases Surveillance Report for Five Star Bancorp

Retrieved on:

Friday, August 25, 2023

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On July 26, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Rancho Cordova, CA-based Five Star Bancorp (NASDAQ: FSBC) (“the company”).

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On July 26, 2023, KBRA affirmed the senior unsecured debt rating of BBB, the subordinated debt rating of BBB-, and the short-term debt rating of K3 for Rancho Cordova, CA-based Five Star Bancorp (NASDAQ: FSBC) (“the company”).
In addition, KBRA affirmed the deposit and senior unsecured debt ratings of BBB+, the subordinated debt rating of BBB, and the short-term deposit and debt ratings of K2 for Five Star Bank, the main subsidiary.
The Outlook for all long-term ratings is Stable.
Click here to view the report.

Five Star Bank Partners with Autobooks to Launch Tap to Pay on iPhone for Small Business Customers

Retrieved on:

Monday, August 21, 2023

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Offering Tap to Pay on iPhone empowers Five Star customers to accept payments on the go, right from our mobile banking app,” said Jeanne Stegmeier, Vice President and Small Business Leader with Five Star Bank.

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Offering Tap to Pay on iPhone empowers Five Star customers to accept payments on the go, right from our mobile banking app,” said Jeanne Stegmeier, Vice President and Small Business Leader with Five Star Bank.
“Small businesses are crucial to the economic vitality of our local communities, and we are proud to work with exceptional partners like Autobooks to help them manage the day-to-day needs of their businesses.”
Five Star small business customers can use Tap to Pay on iPhone to accept all forms of contactless payments, using only an iPhone and the Five Star Bank Digital Banking mobile app.
Customers also have the option to purchase additional features through Autobooks, including accounting tools, automated reporting and business bill pay.
Earlier this month, the Bank announced that New York State small business customers with a Five Star Bank business checking account may apply for term loans and lines of credit, for total lending exposure of up to $250,000, online at www.five-starbank.com .

Financial Institutions, Inc. Announces Quarterly Cash Dividend

Retrieved on:

Monday, August 21, 2023

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WARSAW, N.Y., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly cash dividend of $0.30 per outstanding common share.

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WARSAW, N.Y., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly cash dividend of $0.30 per outstanding common share.
The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock.
All dividends are payable October 2, 2023, to shareholders of record on September 14, 2023.

Five Star Bank Expands Small Business Lending Solutions Through Partnership with Numerated

Retrieved on:

Wednesday, August 9, 2023

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WARSAW, N.Y., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Five Star Bank (“Five Star” or the “Bank”), the wholly-owned community bank subsidiary of Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), announced an expansion to its suite of small business products and services.

Key Points:

WARSAW, N.Y., Aug. 09, 2023 (GLOBE NEWSWIRE) -- Five Star Bank (“Five Star” or the “Bank”), the wholly-owned community bank subsidiary of Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), announced an expansion to its suite of small business products and services.
Through its partnership with Numerated, Five Star is now offering digital loan origination for small businesses.
New or existing New York State small business customers with a Five Star Bank business checking account may apply for term loans and lines of credit, for total lending exposure of up to $250,000, online at www.five-starbank.com .
By leveraging the business banking fintech’s online loan origination capabilities, Five Star is expanding its suite of solutions dedicated to supporting small businesses.

Cresset Enters Joints Venture with Level 2 Development and SJG Properties, Marking the Firm’s Latest Qualified Opportunity Zone Fund Investment

Retrieved on:

Thursday, August 3, 2023

This will be the first project in Cresset’s third Qualified Opportunity Zone fund, Cresset Diversified QOZ Fund III (“Fund III”).

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This will be the first project in Cresset’s third Qualified Opportunity Zone fund, Cresset Diversified QOZ Fund III (“Fund III”).
“We are excited to partner with Cresset Partners in our Scott’s Addition Project,” said Ashley Wiltshire of SJG Properties.
Cresset’s experience in Opportunity Zone projects and their long-term investment strategy made them a natural choice as a partner in developing The Ace.
“We’re very excited to support that growth by partnering with Level 2 and SJG on The Ace Apartments project.

Financial Institutions, Inc. Announces Second Quarter 2023 Results

Retrieved on:

Thursday, July 27, 2023

Net income was $14.4 million for the second quarter of 2023, compared to $12.1 million in the first quarter of 2023 and $15.6 million in the second quarter of 2022.

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Net income was $14.4 million for the second quarter of 2023, compared to $12.1 million in the first quarter of 2023 and $15.6 million in the second quarter of 2022.
Noninterest income was $11.5 million for the second quarter of 2023, an increase of $542 thousand from the first quarter of 2023 and an increase of $106 thousand from the second quarter of 2022.
Noninterest expense was $33.8 million in the second quarter of 2023 compared to $33.7 million in the first quarter of 2023 and $32.9 million in the second quarter of 2022.
The effective tax rate was 14.4% for the second quarter of 2023, 18.7% for the first quarter of 2023, and 19.8% for the second quarter of 2022.