UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): | November 19, 2014 |
Financial Institutions, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
New York | 0-26481 | 16-0816610 |
_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
of incorporation) | File Number) | Identification No.) |
220 Liberty Street, Warsaw, New York | 14569 | |
_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
Registrants telephone number, including area code: | 585-786-1100 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On November 19, 2014, Financial Institutions, Inc. issued a press release announcing the declaration of a cash dividend of $0.20 per common share. The Company also announced dividends of $0.75 per share on Series A 3% Preferred Stock and $2.12 per share on Series B-1 8.48% Preferred Stock. All dividends are payable January 2, 2015 to shareholders of record as of December 12, 2014. A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit 99.1 Press Release issued by Financial Institutions, Inc. on November 19, 2014
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Financial Institutions, Inc. | ||||
November 19, 2014 | By: |
/s/ Kevin B. Klotzbach
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Name: Kevin B. Klotzbach | ||||
Title: Executive Vice President, Chief Financial Officer and Treasurer |
Exhibit Index
Exhibit No. | Description | |
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99.1
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Press Release issued by Financial Institutions, Inc. on November 19, 2014 |
NEWS RELEASE |
220 Liberty Street | |||
For Immediate Release |
Warsaw, NY 14569 |
Financial Institutions, Inc. Announces Increase in Quarterly Dividend
Dividend Growth: 50% Quarterly Dividend Increase in Less Than 4 Years
WARSAW, N.Y. November 19, 2014 Financial Institutions, Inc. (the Company) (NASDAQ: FISI) announced today that its Board of Directors has approved a quarterly cash dividend of $0.20 per outstanding common share, which represents a 5% increase from the most recent quarterly cash dividend. The Company also announced dividends of $0.75 per share on Series A 3% preferred stock and $2.12 per share on series B-1 8.48% preferred stock. All dividends are payable January 2, 2015 to shareholders of record as of December 12, 2014.
Martin K. Birmingham, President and Chief Executive Officer, stated, We are pleased to announce the Boards decision to increase the quarterly dividend paid to common shareholders, which underscores our confidence in the present and future earning power of the Company. This also marks the 7th time in less than four years that we have increased the dividend on our common shares. With the investments we have been making to expand our services and market presence, the increased dividend payout reflects our position for continued growth and our commitment to enhancing total return for our shareholders.
About Financial Institutions, Inc.
Financial Institutions, Inc. provides diversified financial services through its subsidiaries, Five Star Bank and Scott Danahy Naylon. Five Star Bank provides a wide range of consumer and commercial banking services to individuals, municipalities and businesses through a network of over 50 offices throughout Western and Central New York State. Scott Danahy Naylon provides a broad range of insurance services to personal and business clients across 44 states. Financial Institutions, Inc. and its subsidiaries employ over 625 individuals. The Companys stock is listed on the Nasdaq Global Select Market under the symbol FISI and is a member of the NASDAQ OMX ABA Community Bank Index. Additional information is available at the Companys website: www.fiiwarsaw.com.
Safe Harbor Statement
This news release may contain forward-looking statements, within the meaning of federal securities laws that involve significant risks and uncertainties. Statements herein are based on certain assumptions and analyses by the Company and are 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: changes in interest rates; changes in accounting principles, policies, or guidelines; changes in the Companys dividend policy; significant changes in the economic scenario: significant changes in regulatory requirements; and significant changes in securities markets. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language in the Companys 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 news release.
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For additional information contact: |
Kevin B. Klotzbach |
Executive VP, Chief Financial Officer & Treasurer |
Phone: 585.786.1130 |
Email: KBKlotzbach@five-starbank.com |