On April 1, 2024, Financial Institutions, Inc., Warsaw, New York, the holding company for Five Star Bank, completed the sale of its insurance agency subsidiary, SDN Insurance Agency, LLC, to NFP Property & Casualty Services, Inc. (“NFP”).

Financial Institutions, Inc. is the bank holding company for Five Star Bank, a New York-chartered commercial bank that provides a full range of banking services in Western and Central New York, commercial loans in the Mid-Atlantic and Central New York and Banking-as-a-Service capabilities to non-bank service providers and other financial technology firms.

NFP is a global insurance broker and consultant providing specialized property and casualty, benefits, wealth management and retirement planning.

Luse Gorman served as legal counsel to Financial Institutions, Inc. in the transaction.  The Luse Gorman team consisted of Jeff Cardone, Marc Levy, Max Seltzer and Keeler Fina.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.