Financial Institutions, Inc. Subsidiaries Courier Capital, LLC and HNP Capital, LLC Complete Merger
02 5월 2023 - 5:05AM
Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”) today
announced the completion of the merger of its wholly-owned
SEC-registered investment advisory firms on May 1, 2023, under
which HNP Capital, LLC (“HNP Capital”) merged with and into Courier
Capital, LLC (“Courier Capital”).
“This merger formally unites our Company’s two well-regarded
wealth management firms and is the next natural step in the
evolution for our investment advisory business line,” said Martin
K. Birmingham, President and Chief Executive Officer of the
Company. “In addition to supporting Courier Capital’s growth, this
merger streamlines our ability to provide innovative financial
products and services to current and prospective clients, including
those of Five Star Bank and SDN Insurance Agency, LLC.”
Financial Institutions, Inc. entered the investment advisory
space in 2016 with its acquisition of Courier Capital and further
strengthened its offering through the acquisition of Williamsville,
NY-based Robshaw & Julian Associates, Inc. in 2017. In 2018, it
announced the acquisition of HNP Capital, which expanded the
Company’s wealth management reach to the Rochester, NY market and
bolstered its retirement plan and institutional offerings.
Courier Capital President Thomas J. Hanlon commented, “Over the
past five years, the teams at Courier Capital and HNP Capital have
been collaborating and sharing best practices. We are thrilled to
join forces to provide an even stronger service offering and help
our clients achieve their unique financial goals through
independent guidance rooted in comprehensive research, deep
experience and a commitment to fiduciary excellence.”
“HNP Capital has earned a reputation as a true partner to its
clients and our team is known for its customized and consultative
approach to investment management and financial planning,” said
Senior Managing Director Rebecca L. Westervelt. “Our approach
aligns perfectly with that of Courier Capital and I firmly believe
our clients’ experiences will only be enhanced through this
merger.”
As one of the largest registered investment advisory firms in
Western New York with assets under management of approximately $2.7
billion, Courier Capital provides customized investment management,
financial planning and consulting services to individuals and
families, businesses, institutions, non-profits and retirement
plans. Learn more at www.couriercapital.com.
About Financial Institutions, Inc. and Courier Capital,
LLCFinancial Institutions, Inc. (NASDAQ: FISI) is an
innovative financial holding company with approximately $6.0
billion in assets offering banking, insurance and wealth management
products and services through a network of subsidiaries. Its Five
Star Bank subsidiary provides consumer and commercial banking and
lending services to individuals, municipalities and businesses
throughout Western and Central New York and its Mid-Atlantic
commercial loan production office serves the Baltimore and
Washington, D.C. region. SDN Insurance Agency, LLC provides a broad
range of insurance services to personal and business clients, while
Courier Capital, LLC offers customized investment management,
financial planning and consulting services to individuals and
families, businesses, institutions, non-profits and retirement
plans. Learn more at five-starbank.com and FISI-investors.com.
DisclosureCourier Capital, LLC (“Courier”) is
an SEC registered investment adviser located in Buffalo, NY,
Rochester, NY, Jamestown, NY and Pittsburgh, PA. Courier and its
representatives are in compliance with the current registration and
notice filing requirements imposed upon SEC registered investment
advisers by those states in which Courier maintains clients.
Registration does not imply a certain level of skill or training.
Investing involves gains and losses and may not be suitable for all
clients. Investment products and services are not FDIC Insured, are
not a deposit or bank guaranteed, are not insured by any Federal
governmental agency, and are subject to investment risks, including
possible loss of the principal invested. For information about
Courier, including its registration, fees and services, please
contact Courier or refer to the Investment Advisor Public
Disclosure Website (www.adviserinfo.sec.gov).
For additional information contact:Kate
CroftDirector of Investor and External Relations (716)
817-5159klcroft@five-starbank.com
Financial Institutions (NASDAQ:FISI)
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