Financial Institutions, Inc. Announces Completion of Landmark Group Acquisition
– Rochester, New York Insurance brokerage firm was acquired by SDN Insurance Agency, Financial Institutions’ insurance subsidiary
– Kelly M. Shea and Christopher K. Shea will lead Rochester insurance operations
WARSAW, N.Y., Feb. 02, 2021 (GLOBE NEWSWIRE) — Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), parent company of Five Star Bank (the “Bank”), SDN Insurance Agency, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”), announced that the acquisition of assets of Landmark Group (“Landmark”) by the Company’s insurance subsidiary SDN was completed on February 1, 2021.
A staple of the Rochester community since 1984, Landmark was an independent insurance brokerage firm delivering insurance, surety and risk management solutions across many business sectors including construction, manufacturing, real estate and technology, as well as individual personal insurance. Landmark Founder and Chairman Kelly M. Shea and President Christopher K. Shea remain with SDN to lead SDN’s Rochester operations and continue their long-term relationship with current clients.
“This acquisition will expand our insurance business in Rochester and the Finger Lakes region, an important growth market for us,” said Martin K. Birmingham, President and Chief Executive Officer of the Company. “Kelly and Chris are highly respected, their philosophies are consistent with ours, and they have a very strong commitment to their clients. We welcome them and their entire team to our organization and look forward to working together to build momentum for our insurance line of business.”
About Financial Institutions, Inc.
Financial Institutions, Inc. provides diversified financial services through its subsidiaries Five Star Bank, SDN, Courier Capital and HNP Capital. Five Star Bank provides a wide range of consumer and commercial banking and lending services to individuals, municipalities and businesses through a network of approximately 45 offices throughout Western and Central New York State. 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 600 individuals. The Company’s stock is listed on the Nasdaq Global Select Market under the symbol FISI. Additional information is available at www.fiiwarsaw.com.
For additional information contact:
Shelly J. Doran
(585) 627-1362 or [email protected]
