New York-based Financial Institutions, the parent company of Five Star Bank, has agreed to acquire Courier Capital Corporation, an investment advisory and wealth management firm with offices in Buffalo and Jamestown.
Courier Capital has nearly $1.2bn in assets under management and offers customized investment management, investment consulting and retirement plan services to over 1,100 individuals, businesses and institutions.
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Following the deal, Courier Capital will become a subsidiary of Financial Institutions and act as an affiliate of Five Star Bank and Scott Danahy Naylon Insurance.
Financial Institutions president and CEO Martin Birmingham said: "The acquisition of Courier Capital reflects our commitment to an expanded revenue base and increased noninterest income.
"In one step we meet the growing needs of our customers, raise our profile in key markets, and acquire a platform to support future growth in investment advisory and wealth management."
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