
WARSAW, N.Y., Dec. 11, 2024 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (Nasdaq: FISI) (the “Company”), parent company of Five Star Bank and Courier Capital, LLC, announced today that it has launched an underwritten public offering of shares of its common stock. The Company intends to grant the underwriters a 30-day option to purchase additional shares of its common stock. The Company intends to use the net proceeds from this offering for general corporate purposes which may include a balance sheet restructuring through the repositioning of a substantial portion of our available-for-sale debt securities portfolio to support continued growth as well as the repayment of indebtedness. Keefe, Bruyette & Woods, Inc., A Stifel Company is serving as the sole bookrunner for the offering, and Piper Sandler & Co. is acting as the co-manager. Additional Information Regarding the Offering The offering of common stock is being made pursuant to a registration statement on Form S-3 (File No. 333-283475) that was declared effective by the Securities and Exchange Commission (the “SEC”) on December 4, 2024. A preliminary prospectus supplement to which this communication relates has been filed with the SEC. A final prospectus supplement and accompanying prospectus will be filed with the SEC. Prospective investors should read the preliminary prospectus supplement and the accompanying prospectus and other documents the Company has filed with the SEC for more complete information about the Company and the offering. Copies of these documents are available at no charge by visiting the SEC’s website at www.sec.gov . When available, copies of the preliminary prospectus supplement, the final prospectus supplement and accompanying prospectus related to the offering may be obtained by contacting Keefe, Bruyette & Woods, Inc., A Stifel Company by telephone at (800) 966-1559 or by e-mail at USCapitalMarkets@kbw.com . No Offer or Solicitation This press release does not constitute an offer to sell, a solicitation of an offer to sell, or the solicitation of an offer to buy any securities. There will be no sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. About Financial Institutions, Inc. Financial Institutions, Inc. (NASDAQ: FISI) is an innovative financial holding company with approximately $6.2 billion in assets offering banking and wealth management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities and businesses through banking locations spanning Western and Central New York and a commercial loan production office serving the Mid-Atlantic region. Courier Capital, LLC offers customized investment management, financial planning and consulting services to individuals and families, businesses, institutions, non-profits and retirement plans. Learn more at Five-StarBank.com and FISI-Investors.com. Special Note Concerning Forward-Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements represent plans, estimates, objectives, goals, guidelines, expectations, intentions, projections, and statements of the Company’s beliefs concerning future events, business plans, objectives, expected operating results, and the assumptions upon which those statements are based. Forward-looking statements include without limitation, any statement that may predict, forecast, indicate, or imply future results, performance, or achievements, and are typically identified with words such as “may”, “could”, “should”, “will”, “would”, “believe”, “anticipate”, “estimate”, “expect”, “aim”, “intend”, “plan” or words or phases of similar meaning. The Company cautions that the forward-looking statements are based largely on the Company’s expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond the Company’s control. Such forward-looking statements are based on various assumptions (some of which may be beyond the Company’s control) and are subject to risks and uncertainties, which change over time, and other factors, which could cause actual results to differ materially from those currently anticipated. New risks and uncertainties may emerge from time to time, and it is not possible for the Company to predict their occurrence or how they will affect the Company. If one or more of the factors affecting the Company’s forward-looking information and statements proves incorrect, then the Company’s actual results, performance, or achievements could differ materially from those expressed in, or implied by, forward-looking information and statements contained in this press release. Therefore, the Company cautions you not to place undue reliance on the Company’s forward-looking information and statements. Important factors that could cause actual results to differ materially from those in the forward-looking statements are set forth in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 under the section entitled “Risk Factors,” and other documents filed by the Company with the SEC from time to time. The Company disclaims any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law. Investor Contact : Kate Croft Director of Investor and External Relations (716) 817-5159 klcroft@five-starbank.comIRVING, Texas (AP) — The NFL will consider expanding replay assist to include facemask penalties and other plays. Officials have missed several obvious facemask penalties this season, including two in a three-week span during Thursday night games. “When we see it, because I see it like yourselves and the fans, I have an opportunity to see it from a different angle and see it from a slow-mo,” NFL executive Troy Vincent said Wednesday at the league’s winter meetings. “When you think about the position of where the officials are, things are happening so fast. Sometimes the facemask can be the same color as the gloves. There’s a lot happening. Concerning? Yes, because that’s a big miss. That’s a big foul. That’s why we would like to consider putting that for the membership to consider putting that foul category that we can see, putting that (penalty flag) on the field to help. There is a frustration, and we believe that is one category we can potentially get right.” Vikings quarterback Sam Darnold was grabbed by his facemask and brought down in the end zone to end Minnesota’s comeback attempt against the Rams on Oct. 24. But there was no call. On Oct. 3, officials missed a facemask on Buccaneers running back Bucky Irving while he ran for 7 yards late in the fourth quarter. Tampa Bay instead was called for holding on the play, got forced out of field-goal range and Kirk Cousins rallied the Falcons to an overtime victory. “That is one this year, the facemask seems like it was the obvious one” Vincent said. “That keeps showing up.” Vincent also cited hits on a defenseless player, tripping, the fair catch, an illegal batted ball, an illegal double-team block, illegal formations on kickoffs and taunting as other areas that warrant consideration for replay assist. Current rules only allow replay assist to help officials pick up a flag incorrectly thrown on the field, or in assisting proper enforcement of a foul called on the field. The NFL’s Competition Committee will review potential recommendations for owners to vote on for expanding replay assist. Low blocks Vincent was emphatic about the league’s desire to eliminate low blocks that could lead to serious injuries. “The low block below the knee needs to be removed from the game,” Vincent said. “You look at high school, you look at college, too. Every block should be above the knee, but below the neck. All the work that we’ve done for the head and neck area, all the things that we’ve taken out of the game, this is the right time for us to remove the low block out of the game. Be consistent with high school. Be consistent with college. Every block should be above the knee and below the neck.” Onside kicks The league will consider changes to the onside kick after dramatically overhauling the kickoff rule on a one-year basis. “We need to look at that. That’s a dead play,” Vincent said of the onside kick’s low success rate. “That is a ceremonial play. Very low recovery rate. When we look at the kickoff and maybe where the touchback area should be during the offseason, we need to revisit the onside kick.” Options include giving the team an opportunity to run one play to gain a certain number of yards to keep possession. Commanders in RFK Stadium The Washington Commanders’ search for a new stadium site includes options in Maryland, Virginia and the District of Columbia, and work has escalated on one in particular. NFL Commissioner Roger Goodell and controlling owner Josh Harris met with lawmakers on Capitol Hill last week about the RFK Stadium site in Washington, which requires a bill getting through Congress to transfer the land to the District government before anything else can happen. “I think there’s a bipartisan support for this,” Goodell said, adding he’d like to see it get to a vote soon. “We hope that it will be addressed and approved so that it’s at least an alternative for the Commanders if we go forward. I grew up in Washington, and I know would be exciting for a lot of fans.” Expanding schedule The NFL continues to discuss a potential 18-game season, but would need approval from the players’ union. “We are doing analysis I would say, but we are not finalizing any plans at this point,” Goodell said. “They’ll share that analysis with the players’ union, which would need to agree to any change.” ___ AP Sports Writer Stephen Whyno contributed. ___ AP NFL:
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By Brendan Marks, Michael Silver, Jeff Howe and Dianna Russini Bill Belichick, the longtime NFL coach who won six Super Bowls with the New England Patriots but has not led a team in a year, will be the next football coach at the University of North Carolina, sources briefed on the matter told The Athletic on Wednesday. The deal is expected to be for $30 million over three years, according to sources briefed on the matter. Advertisement Belichick, who left the Patriots after the 2023 season, will move to the college ranks after spending his entire coaching career in the NFL. He agreed to fill the vacancy left by Mack Brown , the winningest coach in North Carolina’s history, who was fired just before the end of a tumultuous 2024 regular season in Chapel Hill. During his 24 seasons with the Patriots, Belichick won six championships while paired with Tom Brady at quarterback, a run that cemented Belichick as one of the NFL’s most decorated coaches. He has 333 wins, including games in the regular season and playoffs, and is 14 victories away from tying Don Shula for the NFL career record for head coaches. Belichick has worked in the media since departing New England, but it has long been clear that he was looking to coach again. The opportunity to do so comes in Chapel Hill, where the Tar Heels have not won a conference title since 1980 . The program has been to 14 bowl games since 2008 but has won 10 games in a season just once since 1997, the final year of Brown’s first stint as head coach. Belichick, 72, spent some time in college football this year at Washington, where his son Steve Belichick joined the Huskies as defensive coordinator under first-year head coach Jedd Fisch. Sources briefed on Bill Belichick’s interactions, speaking on condition of anonymity to discuss private deliberations, said Washington successfully used Belichick’s full Patriots defensive scheme this season. Steve Belichick is expected to join his father’s North Carolina staff after one year with Washington, per sources. Steve’s expected role with the Tar Heels is not finalized yet, but the 37-year-old previously coached as a defensive assistant, safeties coach, defensive backs coach and outside linebackers coach with the Patriots. Advertisement Bill’s father, Steve, worked in college football for more than 40 years (including a stop at UNC). Belichick also maintained a close relationship with Nick Saban, the longtime Alabama head coach who retired in January . Saban won seven national titles in his college career as a head coach – and also was a defensive coordinator for Belichick with the Cleveland Browns in the early 1990s. Still, UNC will be Belichick’s first college coaching position of any type; he began his career with the Baltimore Colts and also had stints with the Detroit Lions , Denver Broncos , New York Giants and the New York Jets along with the Browns and the Patriots. In an appearance Monday on “The Pat McAfee Show,” Belichick made his pitch for what a college program could look like under his leadership. “The college program would be a pipeline to the NFL for the players that had the ability to play in the NFL,” he said. “It would be a professional program, training, nutrition, scheme, coaching, techniques that would transfer to the NFL. It would be an NFL program at a college level and an education that would get the players ready for their career after football, whether that was (at) the end of their college career or at the end of their pro career. GO DEEPER Mandel: North Carolina is going to regret hiring Bill Belichick “But it would be geared toward developing the player, time management, discipline, structure and all that, that would be life skills, regardless of whether they’re in the NFL or somewhere in the business.” By moving to the college ranks, Belichick might sacrifice the pursuit of a record he once appeared destined to break. For a long time, surpassing Shula’s NFL wins record was a driving force for Belichick, a chance to one-up the coach who once said that Patriots scandals “diminished” what Belichick built in New England. But sources close to Belichick say he was turned off by the NFL’s hiring cycle last winter , when only the Atlanta Falcons opted to interview him even though eight teams had openings. Belichick was expected to have a stronger NFL market this offseason; three franchises have already fired their coaches — the Jets, the Chicago Bears and the New Orleans Saints — and another five to seven openings are expected. Whether a stop at UNC weakens or burnishes his chances of returning to the NFL, his shift to the college game is a late twist in the career of an NFL lifer. The buzz around Belichick hit a fever pitch in the past week. For the Tar Heels, finding someone to replace Brown, who was fired in late November, had proved more difficult than anticipated. Several names had been linked to the job without panning out, including Tulane head coach Jon Sumrall, arguably the top candidate from the Group of 5 level, who declared Sunday that he would stay put. Advertisement Amid discussions about several candidates, UNC had ongoing contact with Belichick, which hung over the search as a wild card. His hiring ultimately capped a dramatic process to fill one of the most enticing vacancies available in the college ranks. A long-simmering power struggle at UNC between athletic director Bubba Cunningham and North Carolina’s Board of Trustees played a major role. After Brown was fired, Cunningham appeared on UNC’s “Carolina Insider” podcast and detailed what he was looking for in the Tar Heels’ next football coach. “We have to develop this program,” Cunningham said. “As we’ve said, we’ve been right at the cusp of really great seasons: getting to eight, nine wins. How do we get to 10, 11? Who can get us to that level?” The Tar Heels also had reason to replace the 73-year-old Brown with a younger coach more suited for the long haul of elevating the program to contend for conference championships and the College Football Playoff. With help from an advisory committee, Cunningham hoped to cull an initial list of roughly 30 names – which included Belichick, per a senior school official familiar with the search process — down to 10-12. GO DEEPER Did Bill Belichick abandon his quest for the NFL victories record? Never say never “But all the coaches we’re talking to right now are playing, and so they’re continuing to be in championship games or in the playoffs,” he added. “So it’ll probably take a week or so.” North Carolina officials, including Cunningham, spoke with Belichick last Wednesday and met with him in person on Thursday. Sources familiar with the board’s thinking believed that it, as well as UNC’s highest-profile boosters, preferred that Belichick be the one to succeed Brown. But multiple people briefed on the school’s conversations with Belichick described a disconnect between the coach’s and the school’s expectations for the terms of the job, as well as discord within UNC about whether its conversations between Belichick and members of the board had followed its normal procedures. Advertisement There is also another major apparent tension: NFL and college football are not the same sport, despite college football’s recent elements of professionalization since the legalization of name, image and likeness (NIL) deals, along with more freedom in player movement. Those significant developments have prompted universities to hire general managers, who handle roster management and bring on analysts to scrutinize finances much in the way professional sporting leagues hire salary cap experts. Of course, college sports are not nearly as regulated and regimented as professional sports. There are no multiyear contracts. Players can transfer every year. While there will be a cap on upcoming revenue sharing (around $20 million), it’s possible and perhaps likely that NIL payments will keep the sport from having a true salary cap. In college, coaches are at the top of their programs. But they must spend much more of their time fundraising with donors, recruiting high school players on the road, making sure players attend class and other duties away from on-field coaching. One of Belichick’s close friends, Saban, just left the sport in part because he didn’t want to deal with it anymore. The NFL and college calendars are also very different. In college football, it’s more of a marathon than a sprint, despite the NFL season being much longer. The offseason for coaches in college football is more demanding and time intensive. As one former NFL coach who transitioned to life as a college staffer in the past year told The Athletic : “There’s not a big summer break, like you get in the NFL, when coaches can truly unwind, like phone is off. College isn’t as hard of a season — not even close — but it’s much more year-round.” But for Belichick, the autonomy given to a college head coach could be a draw. One reason Belichick didn’t yield much NFL interest last offseason was the way the Patriots roster fell apart in his final few seasons. In New England, Belichick ran the entire football operation, serving as the sole and final decision maker. And the resulting roster in his final years was among the worst in the league, resulting in the split when New England went just 4-13 in 2023. The Patriots’ downturn disincentivized NFL teams from offering the total control Belichick seeks. Belichick’s final years in New England were also defined by drama, first due to a deteriorating relationship with Brady, who won his seventh Super Bowl at quarterback for the Tampa Bay Buccaneers after leaving the Patriots in 2020, then amid tension with Robert Kraft, the team’s owner. At UNC, Belichick can run the program without answering to anyone about football decisions. There will be other challenges — like NIL, the transfer portal and navigating boosters — that are more complicated than reporting to one owner, but football decisions in college go through the head coach, and now Belichick can yield that kind of power again. In its best form, it lets Belichick flex an unrivaled knowledge of the game, built from studying football and reading books on the sport as a young kid at the Naval Academy while his dad coached with the team. Bill Belichick emphasized "IF" he was coaching in a college program, it would be "a professional program." 👀 @PatMcAfeeShow "The college program would be a pipeline to the NFL for the players that have the ability to play in the NFL." pic.twitter.com/p2raPzm2DN — ESPN (@espn) December 9, 2024 With the transfer portal open, Belichick now must simultaneously hire a staff — something people familiar with his thinking say he has already begun doing — and evaluate the Tar Heels’ roster to figure out which incumbent players are worth fighting to keep. Then there’s the matter of high school recruiting, something Belichick has never done before. UNC’s class, which is ranked 90th nationally per 247Sports, only has nine commits right now — and arguably its most important recruit, four-star quarterback Bryce Baker , opted not to sign during the early signing period last week in the wake of Brown’s firing. (Baker has since visited Penn State , and LSU also remains in the mix.) Keeping him in UNC’s class should be a priority for Belichick and whoever he hires to run the Tar Heels’ offense. Advertisement North Carolina has never been mistaken for a football school, with its men’s basketball team playing top fiddle with its six Division I national championships. Belichick won’t change that historical standard, but his name recognition has the potential to do for UNC what Deion Sanders has done for Colorado. “Coach Prime” obviously brings much more energy and flash than a 72-year-old Belichick will, but the pure curiosity — how Brady’s longtime coach deals with teenagers — will be high. And as was the case with Sanders, UNC doesn’t necessarily need to be good under Belichick, at least not immediately, to garner more attention than it has in quite some time. The Tar Heels will be a nationwide object of fascination, as college and pro football fans alike tune in to see how the experiment turns out. Required reading — Additional reporting by The Athletic ’s Bruce Feldman, Ralph Russo, Chris Vannini and Chad Graff. (Photo: Maddie Meyer / Getty Images)
This pharma stock could easily gain 20% next year, Jefferies says
Mark Gastineau, exastro de los Jets de Nueva York, confrontó a Brett Favre el año pasado en una exposición de reliquias deportivas y acusó al mariscal de campo miembro del Salón de la Fama de dejarse caer deliberadamente en una captura que rompió un récord. La discusión acalorada se muestra en el documental de ESPN 30 por 30 “The New York Sack Exchange”, que se estrena el viernes. Este documental retrata a los integrantes del temible cuarteto de la línea defensiva de los Jets en la década de 1980, que incluía a Gastineau, al miembro del Salón de la Fama Joe Klecko, a Marty Lyons y al fallecido Abdul Salaam. Gastineau estableció un récord de la NFL con 22 capturas en 1984, pero el miembro del Salón de la Fama Michael Strahan rompió la marca en 2002, cuando capturó a Favre durante un duelo entre los Giants y los Packers. Fue una jugada controvertida en la que muchos han acusado a Favre de sufrir la captura a propósito para que Strahan pudiera establecer el récord de una sola temporada con 22 1/2. El documental muestra a Gastineau, quien se aproxima a Favre durante un evento en Chicago. Los dos se dan la mano, y Favre comenta que posiblemente se han conocido anteriormente. Luego Gastineau le dice al exmariscal de campo: “Sí, claro, cuando te caíste por él. Voy a recuperar mi captura. Voy a recuperar mi captura, amigo”. Favre intenta tomar la situación a la ligera, al decir en broma: Gastineau “probablemente me lastimaría”. El otrora rey de las capturas responde: “Bueno, no me importa. Me lastimaste. ¡Me lastimaste! ¿Me oyes? Realmente me lastimaste. Realmente me lastimaste, Brett”. La situación se calmó rápidamente cuando Favre fue escoltado para salir del área. En una entrevista mostrada en el documental, Gastineau reitera lo que le dijo a Favre en persona. “Cualquiera te dirá que Brett Favre se dejó caer”, dijo. Después de que el clip se volvió viral en las redes sociales el martes, Favre publicó un hilo en X para aclarar la situación sobre el video que mostraba "un pequeño altercado” entre él y Gastineau. “Salí de una carrera pensando que estaría completamente solo, vi a Strahan allí y me agaché”, dijo Favre. “El partido había terminado. No había necesidad de hacer algo espectacular. Probablemente no fue la mejor captura o derribo para pérdida de yardas que haya logrado Michael”. Favre se cayó, Strahan consiguió la captura y estableció el récord de la NFL, que en 2021 fue igualado por T.J. Watt de Pittsburgh. “En un partido o situación diferente, habría hecho un mayor esfuerzo para evitar la captura”, dijo Favre sobre el encuentro final de la temporada regular, ganado 34-25 por Green Bay. “Pero en ningún momento pensé en lastimar a Gastineau. Quizás cruzó por mi mente ayudar a Strahan. No lo pensé bien. Eso no era mi fuerte en ese momento”. Gastineau, quien fue uno de los primeros reyes de las capturas de la liga y una de las personalidades más reconocidas, no está en el Salón de la Fama. “Ahora veo cómo ser el Rey de las Capturas elevaría su valor en las exhibiciones de tarjetas, fortalecería sus argumentos para el Salón de la Fama, aumentaría su demanda como orador público”, escribió Favre. “No tenía forma de saber eso entonces. Ahora me doy cuenta de las posibles implicaciones financieras porque el fútbol americano va mucho más orientado a los negocios que cuando Mark y yo jugábamos. “No hubo malicia de mi parte”. Favre agregó que entiende la frustración de Gastineau pero dijo: “No soy su enemigo”. Lamenta que el incidente fuera filmado y revelado al público. “Fue un momento privado de frustración entre dos viejos guerreros del fútbol”, dijo Favre, quien agregó que tiene “un gran respeto” por Gastineau y espera que algún día se una a él en el Salón de la Fama del Fútbol Americano. “Mark definitivamente dejó una marca indeleble en este deporte”, escribió Favre. “Espero que esta controversia llame la atención sobre cuán grande fue Mark Gastineau. Pertenece en Canton. Feliz Navidad a todos”. Esta historia fue traducida del inglés por un editor de AP con la ayuda de una herramienta de inteligencia artificial generativa.Vikings place LB Ivan Pace on injured reserve and sign LB Jamin Davis off Packers practice squad