secwatch.observer — SEC 8-K summary
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Issuer:     FINANCIAL INSTITUTIONS INC (FISI)
CIK:        0000862831
Form:       8-K
Filed at:   2024-03-11T23:59:59+00:00
Accession:  0000950170-24-028925
Event type: other_material
Sentiment:  negative
Materiality: 0.75
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Financial Institutions, Inc. estimates up to $18.9M loss from customer deposit fraud
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- Fraudulent deposit transactions occurred over several days ending early March 2024 by a single business customer.
- Company currently estimates potential pre-tax exposure of up to $18.9M ($14.1M net of taxes).
- Bank says incident is isolated to a single deposit-only business relationship; remains well-capitalized.
- Bank is working with law enforcement and pursuing all available recovery to mitigate loss.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862831/000095017024028925/0000950170-24-028925-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862831/000095017024028925/fisi-20240311.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-028925

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