Financial Institutions, Inc. Announces Sale of the Assets of SDN Insurance Agency to NFP
$27.0 million all cash transaction, representing ~4.0x 2023 insurance income, supports Financial Institutions, Inc.’s earnings and capital position and allows for reinvestment to support its core banking franchise Transaction eliminates $11.3 million of goodwill and other intangible assets and has 43 basis point positive impact on pro forma year-end 2023 common equity tier 1 capital […]