WARSAW, N.Y.--(BUSINESS WIRE)--Jan. 25, 2006--Financial
Institutions, Inc. (NASDAQ: FISI) ("FII"), the parent company of Five
Star Bank, today announced that its Board of Directors elected Erland
E. "Erkie" Kailbourne as Chairman of the Board at its meeting
yesterday. Mr. Kailbourne joined FII's Board of Directors in December
2005, and is the retired Chairman and Chief Executive Officer of Fleet
National Bank, New York. He brings over 40 years of experience in the
financial services industry to his new role. Peter G. Humphrey will
continue as President and Chief Executive Officer of FII and Five Star
Bank.
Mr. Humphrey, noted, "The selection of an outside director as
chairman, and the separation of the role from that of chief executive
officer, is one action among several that the Board has taken over the
last two years as part of its plan to strengthen corporate governance.
Importantly, this structure is recognized as a best practice in
corporate governance by institutional investors and shareholders. I am
most pleased to have a man of Erkie's talent and experience accept the
role of Chairman."
Mr. Humphrey continued, "The separation of duties also permits me
to spend more time on the execution of our Strategic Plan and allows
me to focus on enhancing shareholder value."
Mr. Kailbourne added, "I highly value the confidence that the
board has expressed by electing me Chairman and I very much look
forward to working with them in developing policy and ensuring the
Strategic Plan is successfully achieved. I also look forward to
working with Mr. Humphrey and his Executive Management team as they
continue to expand their market activities at Five Star Bank."
ABOUT FINANCIAL INSTITUTIONS, INC.
With total assets of $2.1 billion, Financial Institutions, Inc. is
the parent company of Five Star Bank which provides a wide range of
consumer and commercial banking services to individuals,
municipalities and businesses. It has a network of 50 offices and 72
ATM's in a 10,000 square mile area of Western and Central New York
State to effectively serve its customers. FII also provides
diversified financial services to its customers and clients, including
brokerage, trust, and insurance. More information on FII and its
subsidiaries is available through the Company web site at
www.fiiwarsaw.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined
by federal securities laws. These statements may address issues that
involve significant risks, uncertainties, estimates and assumptions
made by management. Actual results could differ materially from
current beliefs or projections. There are a number of important
factors that could affect the Company's forward-looking statements,
which include the effectiveness of its consolidation, the credit
environment, the competitive environment and other factors discussed
in the Company's filings with the Securities and Exchange Commission.
The Company undertakes no obligation to revise these statements
following the date of this press release.
CONTACT: Financial Institutions, Inc.Mathew T. Murtha, 585-786-1167
mtmurtha@five-starbank.com
or
Kei Advisors LLC
Deborah K. Pawlowski, 716-843-3908
dpawlowski@keiadvisors.com
SOURCE: Financial Institutions, Inc.