Financial Institutions, Inc. Completes Acquisition of HNP Capital, LLC
WARSAW, N.Y., June 01, 2018 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (Nasdaq:FISI) (the “Company”), announced today that it has completed the acquisition of HNP Capital, LLC (“HNP”). HNP is an SEC-registered investment advisory, wealth management and family office services firm based in Pittsford, New York.
HNP offers investment management, retirement plan services, alternative investments, financial planning and family office services to more than 250 clients. HNP was founded in 2009 by John R. Piccirilli, Chris Hobaica and Nick Norvell, who will continue to manage the firm’s assets after closing. As of March 31, 2018, HNP had approximately $334 million of assets under management.
HNP will operate as a subsidiary of Financial Institutions, Inc. and an affiliate of Five Star Bank, Scott Danahy Naylon and Courier Capital. Assets under management at the Company’s Courier Capital and HNP subsidiaries currently exceed $2 billion.
About Financial Institutions, Inc.
Financial Institutions, Inc. provides diversified financial services through its subsidiaries Five Star Bank, Scott Danahy Naylon, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP”). 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 throughout Western and Central New York State. Scott Danahy Naylon provides a broad range of insurance services to personal and business clients across 45 states. Courier Capital and HNP 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 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 at (585) 627-1362 or sjdoran@five-starbank.com
