Financial Institutions, Inc. · Warsaw, NY United States ·(NASDAQ (GS): FISI)
Company Description
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This link will open in a new window Well, you certainly can't accuse Financial Institutions of wasting valuable company funds on creating a snazzy name. The holding company owns Five Star Bank, which serves western and central New York through some 50 branch offices. It offers standard products and services to consumers and small businesses, including checking and savings accounts, CDs, and IRAs. Residential real estate loans, consumer loans, and commercial mortgages each account for more than a quarter of Financial Institutions' loan portfolio. The bank also writes business and agricultural loans. Subsidiary Five Star Investment Services offers insurance brokerage, risk assessment, and financial management services. To read the full description, subscribe now.
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Key Financial Institutions, Inc. Financials
| Company Type | Public - NASDAQ (GS): FISI Headquarters |
| Fiscal Year-End | December |
| 2008 Sales (mil.) | $16.6 |
| 2008 Employees | 665 |
Financial Institutions, Inc. Executives
18 executives listed for Financial Institutions, Inc.'s Warsaw, NY location.
| Title | Name & Bio | Contact |
| Chairman | Erland Kailbourne | Network |
| President and CEO, Financial Institutions and Five Star Bank | Peter Humphrey | Network |
| EVP, CFO, and Secretary, Financial Institutions and Five Star Banks | Ronald Miller | Network |
Competition
Competitive Landscape for Financial Institutions, Inc.
Demand for banking services is closely tied to economic activity and the level of interest rates. The profitability of individual banks depends on marketing skills, efficient operations, and good risk management. Large economies of scale exist in some segments of the industry, which has encouraged industry consolidation. Smaller banks can compete successfully in segments where customer service or knowledge of the local market is more important. The industry is capital-intensive and highly automated: annual revenue per employee is close to $300,000. Many banks and thrifts aggressively offered adjustable rate and subprime mortgages during the housing boom of the early 2000s only to find themselves saddled with loan defaults and extensive losses when the housing bubble burst. Deep exposure to subprime mortgages and mortgage-backed securities caused bank failures, government takeovers, and involuntary mergers. To read the full description, subscribe now.Top Financial Institutions, Inc. Competitors
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