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Financial Institutions added to index

By THOMAS ADAMS - 12/17/2013 3:44:02 PM

Financial Institutions Inc. will be added to the Nasdaq OMX ABA Community Bank Index as of Monday, officials said.

The Warsaw, Wyoming County-based parent of Five Star Bank was added following a semi-annual review of the index, officials stated in a regulatory filing Monday after the markets closed.

Financial Institutions (Nasdaq: FISI) will be part of an index that trades under the ticker ABQI. The ABQI Index serves as a benchmark for investment products by including larger and more-liquid community banks listed on Nasdaq, the bank said.

“Our inclusion in the ABQI Index reflects the progress we’ve achieved in the communities we serve as well as in delivering on our promise to our shareholders,” President and CEO Martin Birmingham said in a statement.

Five Star Bank ranks seventh in the Rochester market with local deposits of $888.3 million, data from the Federal Deposit Insurance Corp. shows.

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