Financial Institutions, Inc. to wind down BaaS, refocus on core franchise

FINANCIAL INSTITUTIONS INC

BaaS wind-down after strategic review; June 30: ~2% of deposits ($108M), <1% of loans ($31M); targeted by 2025.
Of 12 BaaS partnerships, 4 live, 2 onboarding, 4 not testing, 2 offboarding; all personnel retained for core banking.
Financial impact immaterial; decision driven by modest contribution, regulatory expectations, and required investments.
Company refocuses on community banking, commercial lending, and wealth management growth.

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