Financial Institutions, Inc. Announces Acquisition of Robshaw & Julian Associates, Inc.

–  Williamsville, New York Investment Advisor Acquired by Courier Capital, LLC Subsidiary 

         –  Increases Assets Under Management to Approximately $1.6 Billion

WARSAW, N.Y., Aug. 31, 2017 -- Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), parent company of Five Star Bank, Scott Danahy Naylon, LLC and Courier Capital, LLC (“Courier Capital”), announced that Courier Capital acquired Robshaw & Julian Associates, Inc. (“Robshaw & Julian”), an investment advisor based in Williamsville, New York, earlier today.

Robshaw & Julian was established in 1979 as an independently owned investment advisor, registered with the Securities & Exchange Commission. At closing, the firm’s assets under management were approximately $175 million. Stephen R. Robshaw and James P. Julian, the prior owners of Robshaw and Julian, are now officers of Courier Capital, where they will continue to manage the former Robshaw & Julian portfolios.  

“This transaction furthers our strategy to increase fee-based noninterest income and diversify our revenues,” said Martin K. Birmingham, President and Chief Executive Officer of the Company. “Steve Robshaw and Jim Julian are very well-respected investment advisors in the Buffalo market and they have built a terrific portfolio that will continue to be managed by them within the Courier Capital franchise. We welcome them to our organization and look forward to a very successful relationship.”

Thomas J. Hanlon, Executive Vice President and Chief Operating Officer of Courier Capital added, “We are very pleased that the Robshaw & Julian team has joined us at Courier Capital. Steve and Jim are experienced investment professionals and they have demonstrated an investment philosophy and commitment to client service consistent with our principles here at Courier. Our firms are a really good fit for each other.”    

“We never really considered joining any other firm,” said Mr. Robshaw. “We have long admired Courier Capital’s investment philosophy, strategies and team of investment professionals. Jim and I firmly believe that they will continue to serve our clients’ best interests long beyond our tenure.”

About Financial Institutions, Inc.

Financial Institutions, Inc. provides diversified financial services through its subsidiaries Five Star Bank, Scott Danahy Naylon, LLC (“SDN”) and Courier Capital, LLC (“Courier 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 more than 50 offices and 70 ATMs throughout Western and Central New York State. SDN provides a broad range of insurance services to personal and business clients across 45 states. Courier Capital provides 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 650 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
[email protected]