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| Financial Institutions, Inc. |
| 220 Liberty Street, Warsaw, NY 14569 * (716) 786-1100 |
| Business Description | The company is a bank holding company. The company operates as what is referred to in the banking industry as a super-community bank holding company--a bank holding company that owns multiple community banks that are separately managed. We own four commercial banks that provide consumer, commercial and agricultural banking services in Western and Central New York State: Wyoming County Bank, The National Bank of Geneva, The Pavilion State Bank and First Tier Bank & Trust. |
| Offering Information Company has | |||
| Trading As | FISI (NASNTL) | Industry | Financial (SIC 6022) |
| Type of Stock Offered | Common Shares | Filing Date | 04/23/1999 |
| Domestic Shares Offered | 1,333,333 | Offer Date | 06/24/1999 |
| Foreign Shares Offered | 0 | Filing Range | $14.00 - $16.00 |
| Company Shares | 903,133 | Offer Price | $14.00 |
| Selling Shrhldrs Shares | 430,200 | Gross Spread | $0.980 |
| Gross Proceeds | $18,666,662 | Selling | $0.500 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 10,818,733 | Employees | 340 |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| CIBC World Markets | Lead Manager | (212) 667-7400 |
| Keefe, Bruyette & Woods, Inc. | Co-manager | (212) 323-8470 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | - - Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/1994 | 12/31/1995 | 12/31/1996 | 12/31/1997 | 12/31/1998 | ||
| Revenues | 50.335 | 61.421 | 66.357 | 72.901 | 79.251 | - | - |
| Income from Oper. | - | - | - | - | - | - | - |
| Net Income | 7.579 | 9.580 | 11.553 | 11.329 | 12.099 | - | - |
| E.P.S | 0.760 | 0.960 | 1.160 | 1.140 | 1.220 | - | - |
| Revenue Growth (%) | 22.02 | 8.04 | 9.86 | 8.710 | - | ||
| Net Income Growth (%) | 26.40 | 20.59 | -1.94 | 6.80 | - | ||
| Oper. Profit Margin (%) | - | - | - | - | - | - | - |
| Net Profit Margin (%) | 15.06 | 15.60 | 17.41 | 15.54 | 15.27 | - | - |
| Cash Flow - Oper. | 18.69 | - | - | ||||
| Cash Flow - Inv. | -96.40 | - | - | ||||
| Cash Flow - Fin. | 80.38 | - | - | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 12/31/1998 | Financial Ratios | ||||
| Total Assets | 976.19 | Current Assets | - | Current Ratio | - |
| Total Liab. | 958.33 | Current Liab. | 850.46 | Debt Ratio | 98.17% |
| Total Equity | 17.86 | Working Cap. | - | Debt to Equity Ratio | 53.66 |
| Cash | 26.37 | Return on Assets | 1.24% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used to finance the growth of the bank. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Nixon Hargrave Devans & Doyle |
| Bank's Law Firm | Gibson, Dunn & Crutcher |
| Registrar/Transfer Agent | ChaseMellon Shareholder Services, L.L.C. |
| Auditor | KPMG LLC |
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