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Stock impact report

Five Star Bank Provides Financing and Equity Investment for Affordable Housing Development in Perry, NY

Financial Institutions, Inc. (FISI) 
Last financial institutions, inc. earnings: 4/30 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: snl.com/irw/corporateprofile/1016825
Company Research Source: GlobeNewswire
WARSAW, N.Y., Nov. 19, 2018 (GLOBE NEWSWIRE) -- Five Star Bank (the “Bank”), subsidiary of Financial Institutions, Inc. (Nasdaq: FISI), today announced that it recently provided $9 million of construction loan financing and $11 million in Low Income Housing Tax Credit equity for the development of Perry Knitting Mill Apartments, a 48-unit affordable apartment project located in the Village of Perry, NY. The project will be developed by DePaul Properties, Inc. (“DePaul”) and involves the renovation of the former Perry Knitting Mill, a long vacant manufacturing facility located in the village. DePaul is returning this property to vitality and relevance with this challenging redevelopment. The project will provide housing for workforce families, as well as apartments with supportive housing services that are reserved for individuals with mental illness Show less Read more
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