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Financial Institutions Inc. - FISI STOCK NEWS

Welcome to our dedicated news page for Financial Institutions (Ticker: FISI), a resource for investors and traders seeking the latest updates and insights on Financial Institutions.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Financial Institutions's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Financial Institutions's position in the market.

News
Financial Institutions, Inc. Announces First Quarter 2024 Results
Rhea-AI Summary
Financial Institutions, Inc. reported first quarter 2024 results with net income of $2.1 million, impacted by a deposit-related fraud event. Total deposits increased to $5.40 billion, while total loans decreased to $4.44 billion. Net interest income was $40.1 million, and noninterest income was $10.9 million. Noninterest expense increased to $54.0 million, driven by the fraud event. The Company remains focused on credit quality metrics, with non-performing assets at 0.43%. The sale of subsidiary assets generated $27 million in proceeds. Shareholders' equity was $445.7 million, with common book value per share at $27.74. The Company's regulatory capital ratios exceeded requirements. Net charge-offs were $3.1 million, with a benefit for credit losses of $5.5 million. The Company will host an earnings conference call on April 26, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.03%
Tags
earnings
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News
Financial Institutions, Inc. Announces Sale of the Assets of SDN Insurance Agency to NFP
Rhea-AI Summary
Financial Institutions, Inc. (NASDAQ: FISI) announces the sale of SDN Insurance Agency, to NFP Property & Casualty Services, Inc. for $27.0 million in an all-cash transaction. The sale supports FISI's earnings and capital position, eliminating $11.3 million of goodwill and positively impacting the pro forma year-end 2023 common equity tier 1 capital ratio by 43 basis points.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.76%
Tags
none
-
News
Financial Institutions, Inc. Schedules First Quarter 2024 Earnings Release and Conference Call
Rhea-AI Summary
Financial Institutions, Inc. (FISI) to release Q1 results on April 25, 2024. Earnings conference call on April 26, 2024. Key executives to host the call. Webcast details provided for investors.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.44%
Tags
earnings
News
Financial Institutions, Inc. Announces 2024 Annual Meeting Date
Rhea-AI Summary
Financial Institutions, Inc. (NASDAQ: FISI) sets June 5, 2024, as the date for its 2024 Annual Meeting of Shareholders, to be held virtually. The record date for voting is April 10, 2024. Details will be in the Proxy Statement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.31%
Tags
none
-
News
Financial Institutions, Inc. Announces Quarterly Cash Dividend
Rhea-AI Summary
Financial Institutions, Inc. (NASDAQ: FISI) declares quarterly cash dividends for common and preferred stockholders, with $0.30 per common share, $0.75 per Series A 3% preferred share, and $2.12 per Series B-1 8.48% preferred share, payable on April 2, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.89%
Tags
dividends
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News
URMC Announces First-of-its-Kind Alliance to Expand Health Care Access to Rural Communities
Rhea-AI Summary
The University of Rochester Medical Center partners with Five Star Bank to provide telemedicine stations at bank branches in rural communities. The initiative aims to improve health care access and wellness outcomes in Upstate New York. The partners include Financial Institutions, Inc. (NASDAQ: FISI), Higi, Modivcare (NASDAQ: MODV), DexCare, Inc., and Verizon Business. The initiative is the first of its kind, bringing together a health system and a financial institution to provide telemedicine-equipped health stations to rural communities.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.72%
Tags
none
News
Financial Institutions, Inc. Announces Fourth Quarter and Full Year 2023 Results
Rhea-AI Summary
Financial Institutions, Inc. (FISI) reported a decrease in net income for the fourth quarter of 2023 compared to the previous year, with a provision for credit losses of $5.3 million. Total deposits decreased by 1.9% from the previous quarter, while total loans increased by 0.7%. The company repositioned its investment securities portfolio, resulting in a decrease in net interest income by 4.3%. Noninterest income increased by 46.6% in the fourth quarter, with a significant portion from company owned life insurance revenue. Noninterest expenses increased by 0.9%. The company's credit quality metrics remained strong, and its leadership team underwent a realignment to reduce noninterest expenses. Net interest income and net interest margin decreased due to higher funding costs. Total assets and total loans increased from the previous year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-7.52%
Tags
earnings
-
News
Financial Institutions, Inc. Schedules Fourth Quarter and Full Year 2023 Earnings Release and Conference Call
Rhea-AI Summary
Financial Institutions, Inc. (NASDAQ: FISI) will release Q4 and full year 2023 results on January 25, 2024. The earnings conference call will be hosted by President and CEO Martin K. Birmingham and CFO W. Jack Plants II on January 26, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.05%
Tags
earnings
-
News
Financial Institutions, Inc. Announces Leadership Changes
Rhea-AI Summary
Financial Institutions, Inc. (NASDAQ: FISI) announced changes to its leadership team and organizational structure to support future growth. The realignment impacted approximately 3.4% of the workforce and removed approximately $6 million in annual noninterest expenses.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
management
News
Financial Institutions, Inc. Announces Quarterly Cash Dividend
Rhea-AI Summary
Financial Institutions, Inc. (NASDAQ: FISI) Announces Quarterly Dividends, Payable January 2, 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.07%
Tags
dividends
Stock FISI logo
Financial Institutions Inc.

Nasdaq:FISI

FISI Rankings

#3513 Ranked by Market Cap
#4090 Ranked by Stock Gains
#406 Ranked by Dividends

FISI Stock Data

263.33M
14.97M
2.61%
63.33%
0.48%
Commercial Banking
Finance and Insurance
Link
United States
Warsaw

About FISI

with 200 years of community banking experience and a portfolio exceeding $3 billion in assets, five star bank offers a wide range of consumer and commercial banking services to individuals, municipalities and businesses through a network of over 50 offices and over 60 atms in western and central new york state. we provide our customers a dedicated team of over 600 employees who work together in an environment of trust, integrity, and mutual respect. our customers are at the heart of our organization, where every interaction is an opportunity for us to deliver a friendly, professional, relationship building experience. we take great pride in being a part of each and every community in which we serve. we're committed to giving back to a variety of non-profit organizations, neighborhood charities and countless others. we are proud to be there for you, our customers, wherever, whenever and however you need us. we are five star bank. five star bank and affiliates of its parent company, fina