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Security Details
- Coupon Rate
- 3.00%
- Liquidation Preference
- $100.00
- Call Price
- —
- Call / Redemption Date
- —
- Maturity Date
- —
- Distribution Period
- Q
- Rate Type
- Fixed
- Annual Distribution
- 3
- Distribution Dates
- —
- Credit Ratings
- Moody's NR · S&P NF (7/28/2022)
- Tax-Advantaged Dividends
- No
Security Profile
- Security Type
- Common Stock
- CUSIP
- 317585206
- Market Cap
- Micro Cap · $0 Million
- Parent Company
- Financial Institutions, Inc. (FISI)
Business: Financial Institutions, Inc., 3% Preferred Stock
Notes: From the Prospectus filed with the SEC on 4/10/2015 -- We are authorized to issue up to 210,000 shares of two classes of Preferred Stock, consisting of: 10,000 shares of Class A Preferred Stock and 200,000 shares of Class B Preferred Stock. The Certificate of Incorporation provides that both classes of Preferred Stock are issuable in one or more series. Two series of Class A Preferred Stock have been created, the Series A 3% Preferred Stock and the Fixed Rate Cumulative Perpetual Preferred Stock, Series A (the “TARP Preferred Stock”), and one series of Class B Preferred Stock has been created, the Series B-1 8.48% Preferred Stock. At December 31, 2014, 1,492 shares of 3% Preferred Stock, 171,906 shares of 8.48% Preferred Stock and no shares of TARP Preferred Stock were issued.
3% Preferred Stock -- Holders of 3% Preferred Stock are entitled to receive an annual dividend of $3.00 per share, which is cumulative and payable quarterly. Holders of 3% Preferred Stock have no preemptive right in, or right to purchase or subscribe for, any additional shares of our capital stock. Dividends or dissolution or liquidation payments to the holders of 3% Preferred Stock and TARP Preferred Stock must be declared and paid, or set apart for payment, before any dividends or dissolution or liquidation payments can be declared and paid, or set apart for payment, to the holders of 8.48% Preferred Stock or Common Stock. The 3% Preferred Stock is not convertible into any other of our securities. On December 23, 2008, pursuant to a Capital Purchase Program, we issued to the Treasury 7,503 shares of TARP Preferred Stock. In March 2011, we redeemed all outstanding shares of TARP Preferred Stock. We have no intent to issue any additional shares of TARP Preferred Stock.
8.48% Preferred Stock -- Holders of 8.48% Preferred Stock are entitled to receive an annual dividend of $8.48 per share, which is cumulative and payable quarterly. Holders of 8.48% Preferred Stock have no preemptive right in, or right to purchase or subscribe for, any additional shares of our capital stock and have no voting rights. Accumulated dividends on the 8.48% Preferred Stock do not bear interest, and the 8.48% Preferred Stock is not subject to redemption. Dividends or dissolution payments to the holders of 8.48% Preferred Stock must be declared and paid, or set apart for payment, before any dividends or dissolution payments are declared and paid, or set apart for payment, to the holders of Common Stock. The 8.48% Preferred Stock is not convertible into any other of our securities.
Company Contact
- CEO
- Martin K. Birmingham
- CFO
- W. Jack Plants II
- Headquarters
- 220 Liberty Street, Warsaw, NY 14569
- Phone
- 585-786-1100
- Investor Relations
- Kate Croft · 716-817-5159 · klcroft@five-starbank.com