Financial Institutions (FISI) Approves $5 Million Stock Buyback Plan
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Financial Institutions, Inc. (Nasdaq: FISI) announced that the Company's Board of Directors approved on June 25, 2008 a $5,000,000 stock repurchase program that will expire on June 25, 2009.
Erland E. "Erkie" Kailbourne, Chairman of the Board, commented, "The Company recently completed a $5,000,000 repurchase program that was approved in July 2007. The success of that program together with the Company's continued solid financial performance and available capital has given us the opportunity to initiate an additional repurchase program. Our ongoing commitment to our business plan and disciplined risk management processes, coupled with our stock repurchase programs should continue to enhance shareholder value." [SM]
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