Financial Instns Inc Stock Price, News & Analysis

Financial Institutions, Inc. (NASDAQ:FISI) announced key leadership appointments, including Susan R. Holliday as Chair of the Board and the election of new directors Mauricio F. Riveros and Mark A. Zupan. Holliday, previously Vice Chair, aims to enhance long-term shareholder value. The Board demonstrated commitment to diversity, with a balanced tenure and gender representation. Several committee leadership roles were also filled, emphasizing the organization’s focus on inclusive governance.

Financial Institutions, Inc. (NASDAQ:FISI) has announced a quarterly cash dividend of $0.27 per common share, alongside $0.75 and $2.12 dividends on Series A and B-1 preferred stocks, respectively. All dividends will be payable on July 2, 2021 to shareholders on record by June 18, 2021. The company, which owns Five Star Bank, SDN Insurance, Courier Capital, and HNP Capital, provides diversified financial services across Western and Central New York State, employing approximately 600 individuals.

Financial Institutions, Inc. (NASDAQ:FISI) reported strong first-quarter 2021 results, with net income soaring to $20.7 million, or $1.27 per diluted share, compared to $1.1 million, or $0.05 in Q1 2020. The significant improvement was due to a credit loss provision benefit of $2.0 million, contrasting with a $13.9 million provision in the prior year. Record pre-tax pre-provision income reached $24.1 million, boosted by cost savings from an enterprise standardization program. The Company also reported growth in net interest income, which totaled $37.9 million, and completed the acquisition of Landmark Group to diversify revenue.

Financial Institutions, Inc. (NASDAQ:FISI) will announce its Q1 2021 results on April 28, 2021, after market close. Management will conduct an earnings conference call on April 29, 2021, at 8:30 a.m. ET. This will feature President Martin K. Birmingham and CFO W. Jack Plants II. Investors can access the live webcast on the company’s website, with a replay available for 30 days. FISI, operating through subsidiaries like Five Star Bank, SDN Insurance, and Courier Capital, employs around 600 individuals and provides a variety of financial services across New York State.

Financial Institutions, Inc. (NASDAQ:FISI) has scheduled its Annual Meeting of Shareholders for June 16, 2021, to be held virtually due to COVID-19 concerns. The record date is April 21, 2021. The board nominated Mauricio Riveros and Mark Zupan as new directors, while re-nominating Dawn Burlew and Robert Latella. Karl Anderson Jr. is retiring after 15 years of service. Riveros brings construction industry experience, and Zupan has a strong academic background in economics and public policy. This leadership change could enhance the board's expertise and strategic direction.

Financial Institutions, Inc. (FISI) has announced a quarterly cash dividend increase of 3.8% to $0.27 per share, effective April 2, 2021. This marks the 11th consecutive annual increase in dividends, reflecting the Board’s confidence in the Company’s strategy and earnings potential. Additionally, dividends on preferred stocks include $0.75 for Series A and $2.12 for Series B-1. Shareholders of record by March 19, 2021, will receive these dividends, highlighting the company's commitment to shareholder return.

Financial Institutions, Inc. (NASDAQ:FISI) has announced a new organizational structure to enhance customer service and internal leadership. Justin K. Bigham, previously the Chief Financial Officer, is now the Chief Community Banking Officer, focusing on customer journey and digital experience. W. Jack Plants II has been appointed as the Chief Financial Officer and Treasurer, succeeding Bigham. Other key promotions include new roles in risk management, commercial banking, and legal affairs, positioning the company for future growth while responding to evolving market needs.

Financial Institutions, Inc. (NASDAQ:FISI) reported a strong fourth quarter and year-end results for 2020. Net income for Q4 was $13.8 million, up from $13.1 million in 2019, contributing to a total net income of $38.3 million for the year, a decline from $48.9 million in 2019. The company achieved record pre-tax pre-provision income of $21.0 million in Q4 and $72.9 million for the year, despite challenges posed by COVID-19. A $35 million subordinated debt offering and a stock repurchase plan were also announced, reinforcing capital management strategies. The efficiency ratio improved to below 56%.

Financial Institutions, Inc. (NASDAQ:FISI) will announce its fourth quarter and full year results for 2020 on January 28, 2021, after the market closes. An earnings conference call is scheduled for January 29, 2021, at 8:30 a.m. ET, hosted by CEO Martin K. Birmingham and CFO Justin K. Bigham. The live webcast will be accessible on the Company’s website, with a replay available for 30 days. Financial Institutions, Inc. operates through its subsidiaries, providing a range of banking and financial services across New York State.