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Third proxy advisory firm backs Five Star candidates

A third independent proxy advisory firm has come out in favor of the board candidates backed by Five Star Bank’s parent company.

Egan-Jones recommended shareholders vote in favor of Financial Institutions’ four nominees. Activist shareholder Johnny Guerry and an ally are challenging to win two seats.

Two other firms, ISS and Glass Lewis, have also recommended shareholders vote for the bank’s candidates. The bank’s annual meeting is scheduled for Friday in Warsaw.