Financial Institutions, Inc. Announces Pricing of Common Stock Offering

Core Viewpoint - Financial Institutions, Inc. has announced a public offering of 4,000,000 shares of common stock at a price of $25.00 per share, aiming to raise approximately$95.0 million in net proceeds after underwriting discounts and commissions [1][2]. Group 1: Offering Details - The public offering consists of 4,000,000 shares priced at $25.00 each, with expected proceeds of around$95.0 million [1]. - The underwriters have a 30-day option to purchase an additional 600,000 shares at the same public offering price [1]. - The offering is expected to close on or about December 13, 2024, subject to customary conditions [3]. Group 2: Use of Proceeds - The net proceeds from the offering will be used for general corporate purposes, including balance sheet restructuring and repayment of indebtedness [2]. Group 3: Company Overview - Financial Institutions, Inc. is a financial holding company with approximately $6.2 billion in assets, providing banking and wealth management services through its subsidiaries [6]. - Its Five Star Bank subsidiary offers consumer and commercial banking services across Western and Central New York [6]. - Courier Capital, LLC provides customized investment management and financial planning services [6].