---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-106821"
form_type: "8-K"
ticker: "FISI"
cik: "0000862831"
company_name: "FINANCIAL INSTITUTIONS INC"
filed_at: "2024-09-16T23:59:59+00:00"
generated_at: "2026-05-31T04:49:06.547162+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000950170-24-106821
- form_type: 8-K
- ticker: FISI
- cik: 0000862831
- company_name: FINANCIAL INSTITUTIONS INC
- filed_at: 2024-09-16T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862831/000095017024106821/0000950170-24-106821-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862831/000095017024106821/fisi-20240916.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-106821
- JSON: https://secwatch.observer/filing/0000950170-24-106821.json
- Plain text: https://secwatch.observer/filing/0000950170-24-106821.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.