Member News

The new directors have deep roots in Buffalo and Rochester and bring significant expertise
across investment management, technology, operations and manufacturing

WARSAW, N.Y., June 4, 2026 — Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank (the “Bank”) and Courier Capital announced the election of David P. Bovenzi and Steven C. Finch as independent directors of the Company and the Bank at the Company’s Annual Meeting of Shareholders on May 20, 2026. In addition, Andrew W. Dorn, Jr., Robert M. Glaser and Susan R. Holliday were re-elected to three-year terms.

The newly elected directors bring significant expertise across investment management,technology, operations and manufacturing, as well as public company board experience. In addition, Mr. Bovenzi and Mr. Finch have robust professional connections in the New York State metros of Rochester and Buffalo, respectively, two key growth markets for the Bank.

“We are very pleased to welcome Dave Bovenzi and Steve Finch to the Boards of Directors of both Financial Institutions, Inc. and Five Star Bank,” said Susan R. Holliday, Chair of the Boards of Directors of the Company and the Bank. “Both bring tremendous professional experiences that complement our Board’s skill set well. Dave is a seasoned investment professional with deep capital markets experience who we believe will bring valuable perspective to our Board. Similarly, we expect Steve’s significant operational leadership experience to prove valuable as we continue to execute on our long-term strategy.”

Mr. Bovenzi has served as Chief Investment Officer of Grand Oaks Capital, a family office based in Rochester, since 2016. Prior to that, he served as a Managing Director and Portfolio Manager for Bank of America Private Bank for over 20 years. Mr. Bovenzi currently serves as a Director of publicly-traded Eastman Kodak Co. (NYSE: KODK), in addition to sitting on a number of private company boards in the technology, human resources, and healthcare industries, among others.

Mr. Finch has been Principal of Avision Consulting, LLC since 2023 and spent most of his career at General Motors, including 15 years serving as a Plant Director overseeing locations in Tonawanda, NY and Flint, MI. He served as Senior Vice President of Automotive Services of AAA Western and Central New York from 2017 to 2021 and President of Manufacturing and Director of Community  Engagement for Viridi from 2021 to 2023. Mr. Finch also serves on the boards of Allient (NASDAQ: ALNT) and National Fuel Gas Company (NYSE: NFG), as well as non-profit boards in Western New York.

“Dave and Steve bring extensive leadership experience along with strong connections to Rochester and Buffalo, which are two important markets for Five Star Bank and Courier Capital,” said Martin K. Birmingham, President, CEO and Director of the Company and the Bank. “I look forward to partnering with them as we continue to execute on our strategic priorities and deepen relationships with businesses and families here in Western New York.”

About Financial Institutions, Inc.
Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company with approximately $6.3 billion in assets as of March 31, 2026, offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. 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.

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 "believe," "continue," "expect," "may," "plan," or "will." 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: changes in interest rates; inflation; changes in deposit flows and the cost and availability of funds; the Company’s ability to implement its strategic plan, including by expanding its commercial lending footprint and integrating its acquisitions; 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; legal and regulatory proceedings and related matters, including any action described in our reports filed with the SEC,; 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; and general economic and credit market conditions nationally and regionally; and the macroeconomic volatility related to the impact of a pandemic or global political unrest. Consequently, all forward-looking statements made herein are qualified by these cautionary statements and the cautionary language and risk factors included 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.