Extracted from this filing and checked against the source text.
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
FINANCIAL INSTITUTIONS INC completed a disposition involving NFP Property & Casualty Services, Inc. for $27.0 million in cash (closed 2024-04-01).
- Action
- disposition
- Counterparty
- NFP Property & Casualty Services, Inc.
- Consideration
- $27.0 million in cash
- Closing
- 2024-04-01
Exact text from the filing
Pursuant to the terms of the Purchase Agreement, upon Closing, NFP paid $27.0 million in cash to the Company on April 1, 2024.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
FINANCIAL INSTITUTIONS INC entered into Purchase Agreement with NFP Property & Casualty Services, Inc. valued at $27.0 million (effective 2024-04-01).
- Action
- entry
- Agreement
- asset purchase
- Counterparty
- NFP Property & Casualty Services, Inc.
- Value
- $27.0 million
- Effective
- 2024-04-01
Exact text from the filing
On April 1, 2024, Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”) entered into an Asset Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company agreed to the sale of the assets of its wholly-owned subsidiary SDN Insurance Agency, LLC (“SDN”) (“Asset Purchase”) to NFP Property & Casualty Services, Inc. (“NFP”), a subsidiary of NFP Corp. Pursuant to the terms of the Purchase Agreement, at the closing of the Asset Purchase, which was also completed on April 1, 2024 (“Closing”), NFP paid a purchase price of $27.0 million in cash to the Company.
View on SEC.gov