Humphrey steps down as Financial Institutions chief executive

By  - 8/28/2012 7:43:54 AM

Peter Humphrey has retired as president and CEO of Financial Institutions Inc. and Five Star Bank, the company said Tuesday.

Board chairman John Benjamin will serve as interim CEO while Financial Institutions searches for a permanent successor. Meanwhile, Richard Harrison has been promoted to chief operating officer and Martin Birmingham has been named president and chief of community banking.

Humphrey, who became president and CEO in 1994, said after serving the company for more than 35 years he was “stepping down to spend more time with my family and pursue other interests.” Humphrey said he intends to remain on the board of directors and be involved in the regional and state business community.

During Humphrey’s tenure, the company extended its retail branch network across Upstate New York. Last week, it completed the acquisition of more than 12,000 customers from HSBC Bank USA N.A. retail branch locations in Albion, Elmira, Elmira Heights and Horseheads. Earlier this year, Five Star Bank purchased and converted four branches in Medina, Brockport, Batavia and Waterloo from First Niagara Bank N.A.

Benjamin is president of Three Rivers Development Corp., the primary private-sector economic development organization in Corning. He was elected chairman of Financial Institutions in 2010.

Harrison previously was executive vice president and chief of retail banking. He joined Financial Institutions in 2003. Birmingham, who joined Financial Institutions in 2005, most recently was commercial banking executive vice president and Northeast regional president of Five Star Bank.

With more than $2.6 billion in assets, Financial Institutions provides diversified financial services through its subsidiaries, Five Star Bank and Five Star Investment Services Inc.

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