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Second proxy advisory firm backs Five Star candidates

Another independent proxy advisory firm has come out in favor of Financial Institutions’ candidates for the bank’s board of directors.

Glass Lewis recommended shareholders of Five Star Bank’s parent company vote for the bank’s four nominees. Another proxy advisory firm, ISS, has also recommended voting for the bank’s candidates.

An activist shareholder, Johnny Guerry, and an ally, Terry Philen, are running for two seats on the board.

The bank’s nominees are Martin Birmingham, Samuel Gullo, Kim VanGelder and James Wyckoff. The annual shareholders meeting is June 3 in Warsaw.