Five Star Bank Announces Measures To Support Customers, Associates And Communities Affected By COVID-19

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WARSAW, N.Y. , March 23, 2020 (GLOBE NEWSWIRE) -- Five Star Bank (the "Bank"), subsidiary of Financial Institutions, Inc. (FISI) - Get Report (the "Company"), today announced measures enacted to mitigate the impact of the COVID-19 virus on its customers, associates and communities.

"We have put several measures in place, so we may operate safely and effectively while offering all of the comprehensive banking, investment, and insurance services our customers have come to depend on.  We have also developed a series of solutions to support our customers and allow them to focus on their health and safety."

For consumer customers, effective today and continuing through April 30, 2020, the Bank will be waiving early CD penalty fees for withdrawals up to $20,000 (limited to one penalty-free withdrawal per CD account); eliminating all insufficient funds (overdrafts) and returned item fees; eliminating all Pay by Phone fees; waiving all late fees; offering the opportunity for monthly mortgage, home equity loan or home equity line payment relief; offering the opportunity to defer unsecured consumer loans or lines of credit and secured consumer loans and lines of credit payments; and offering unsecured personal loans up to $5,000, up to 60 months at 2.95% APR subject to credit approval (additional terms and conditions may apply).

Business customers are being faced with challenging and unique circumstances. Five Star Bank's relationship bankers are highly skilled in providing tailored financial solutions designed to meet the specific, individual needs of each business and they are actively reaching out to each business customer to understand how the Bank can help, given each unique business circumstance.  

The Bank's partners at Courier Capital, LLC, HNP Capital, LLC and SDN Insurance® will be in contact with investment and insurance customers in the coming days to discuss how they can help them maintain their financial well-being.

During the week of March 16 th, Five Star Bank took necessary steps to protect the health and safety of associates, customers and communities by maximizing social distancing and implementing a work-from-home policy for many associates. Branch locations were also limited to drive-thru windows wherever possible.

Five Star Bank continues to remain accessible to customers during this temporary shift to a new normal. Customers can access the Bank through branch drive-thrus, via the web through NetTeller, via mobile devices through AirTeller or through the Call Center. They can access cash with no-surcharge fee through any Five Star Bank ATM, as well as multiple alternative locations. Customers can find the closest surcharge-free ATM or branch at

The Bank also implemented non-essential business travel and visitor restrictions that reduce or eliminate in-person meetings, events, conferences and training sessions. Associates continue to provide personalized service by utilizing technology to host meetings via phone or video conference.

Five Star Bank believes it is well-positioned to provide customers necessary support during these challenging times based on its diversified business model, strong levels of capital and liquidity, historically strong asset quality metrics and a disciplined risk management and underwriting process. Financial Institutions, Inc. and Five Star Bank have investment grade ratings from Kroll Bond Rating Agency.

About Five Star Bank and Financial Institutions, Inc.

Five Star Bank provides a wide range of consumer and commercial banking and lending services to individuals, municipalities, and businesses through a network of more than 50 offices throughout Western and Central New York State. Additional Five Star Bank information is available at and on Twitter, Instagram and Facebook.

Five Star Bank, SDN Insurance Agency, LLC ("SDN"), Courier Capital, LLC ("Courier Capital") and HNP Capital, LLC ("HNP Capital") are subsidiaries of Financial Institutions, Inc. SDN provides a broad range of insurance services to personal and business clients. Courier Capital and HNP Capital provide customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. Financial Institutions, Inc. and its subsidiaries employ approximately 700 individuals. Financial Institutions, Inc. stock is listed on the NASDAQ Global Select Market under the symbol FISI. Additional information is available at

Safe Harbor Statement

This press release may contain forward-looking statements as defined by Section 21E of the Securities Exchange Act of 1934, as amended, that involve significant risks and uncertainties. In this context, forward-looking statements often address our expected future business and financial performance and financial condition, and often contain words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "see," "will," "would," "estimate," "forecast," "target," "preliminary," or "range." Statements herein are based on certain assumptions and analyses by the Company and factors it believes are appropriate in the circumstances. Actual results could differ materially from those contained in or implied by such statements for a variety of reasons including, but not limited to: the Company's ability to implement its strategic plan, whether the Company experiences greater credit losses than expected, whether the Company experiences breaches of its, or third party, information systems, the attitudes and preferences of the Company's customers, the Company's ability to successfully integrate and profitably operate SDN, Courier Capital, HNP Capital and other acquisitions, the competitive environment, fluctuations in the fair value of securities in its investment portfolio, changes in the regulatory environment and the Company's compliance with regulatory requirements, changes in interest rates, and general economic and credit market conditions nationally and regionally. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language in the Company's Annual Report on Form 10-K, its Quarterly Reports on Form 10-Q and other documents filed with the SEC. Except as required by law, the Company undertakes no obligation to revise these statements following the date of this press release.

Contact:Shelly J. Doran   (585) 627-1362 or