Five Star Bank's Parent Files $100M Shelf Offering

By Colin Wilhelm March 17, 2015, 1:43 p.m. EDT 1 Min Read

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What's the Real Reason Square 1 Is Selling to PacWest?

One of the most successful startup banks in a generation is turning over its keys to a California bank. Institutional ownership and the prospect of slower growth may have prompted Square 1 to make the deal.

March 16

Financial Institutions Inc. in Warsaw, N.Y., has filed to sell up to $100 million in debt and equity.

The $3 billion-asset company's registration statement includes common and preferred stock and senior and subordinated debt. No timetable was provided for selling the securities.

The company, which operates Five Star Bank, said in its filing that any net proceeds could be used for organic growth or buying branches or whole banks, among other things.

Colin Wilhelm

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