PL Capital Advisors and Black Maple Capital Report 8.9% Ownership in Financial Institutions, Inc.

PL Capital Advisors, LLC, Black Maple Capital Management LP, and related entities have filed an amended Schedule 13D reporting an aggregate 8.9% ownership in Financial Institutions, Inc. The filing indicates that the Reporting Persons acquired the Common Stock because they believed it was undervalued at the time of purchase. The Reporting Persons intend to monitor the performance and corporate governance of the Company and may assert their stockholder rights as necessary. The filing also details the shared voting and dispositive power over the shares held by various entities and individuals, including Richard Lashley, John Palmer, and Robert Barnard. The source of funds for the acquisitions was working capital or personal funds, and no margin or other loans are currently outstanding.