The Parent is a financial holding company organized in 1931 under the laws of New York State ("New York" or "NYS"). The principal office of the Parent is located at 220 Liberty Street, Warsaw, New York 14569 and its telephone number is (585) 786-1100. The Parent was incorporated on September 15, 1931, but the continuity of the Company's banking business is traced to the organization of the National Bank of Geneva on March 28, 1817. Except as the context otherwise requires, the Parent and its direct and indirect subsidiaries are collectively referred to in this report as the "Company." Five Star Bank is referred to as "Five Star Bank," "FSB" or "the Bank," SDN Insurance Agency, LLC (formerly Scott Danahy Naylon, LLC) is referred to as "SDN," Courier Capital, LLC is referred to as "Courier Capital" and HNP Capital, LLC is referred to as "HNP Capital." The consolidated financial statements include the accounts of the Parent, the Bank, SDN, Courier Capital and HNP Capital. The Parent's common stock is traded on the Nasdaq Global Select Market under the ticker symbol "FISI."
At December 31, 2018, the Company had consolidated total assets of $4.31 billion, deposits of $3.37 billion and shareholders' equity of $396.3 million.
The Parent's primary business is the operation of its subsidiaries. It does not engage in any other substantial business activities. The Parent's four direct wholly-owned subsidiaries are: (1) the Bank, which provides a full range of banking services to consumer, commercial and municipal customers in Western and Central New York; (2) SDN, which sells various premium-based insurance policies on a commission basis to commercial and consumer customers; and (3) Courier Capital and (4) HNP Capital, which both provide customized investment advice, wealth management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations and retirement plans. At December 31, 2018, the Bank represented 99.1%, SDN represented 0.4% and Courier Capital and HNP Capital combined represented 0.5% of the consolidated assets of the Company.