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

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

M&A

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

MORE FROM AMERICAN BANKER

Politics and policy

'We lean optimistic': Bankers hope election outcome will boost loan growth

Leaders at financial institutions said borrower demand should pick back up, if slowly, following Tuesday's vote.

By Catherine Leffert

11h ago
Payments

How one industry group is challenging the CFPB's BNPL rule

The Consumer Financial Protection Bureau will soon have to defend its interpretive buy now/pay later rule in court following an industry advocacy group lawsuit. Here's what's at stake.

By Joey Pizzolato

11h ago
Election 2024

Election could mean new leaders for key Congressional committees

Potential new Senate Finance Committee Chair Sen. Mike Crapo, R-Idaho, has suggested a potential workaround to offset the cost of extending the Tax Cuts and Jobs Act.

By Caitlin Devitt

November 4
Customer experience

'Like qualitative research without having to pay': A bank's guide to Reddit

Few banks are listening to what their customers are saying on Reddit, but the site can help them spot customer complaints and develop content that dispels misinformation.

By Miriam Cross

November 4
Federal Reserve

Senate Democrats call for another half-point Fed rate cut

Sens. Elizabeth Warren and John Hickenlooper say recent data suggests there is "no need for restrictive interest rates" and easier monetary policy is necessary to lower housing costs.

By Kyle Campbell

November 4
Community banking

Community banks hire, promote top executives in October

Multiple lenders filled leadership roles across the country, including National Bankshares in Virginia, while Peoples Financial in Pennsylvania said its CEO would step down.

By Jim Dobbs

November 4