Welcome to our dedicated page for Financial Instns news (Ticker: FISI), a resource for investors and traders seeking the latest updates and insights on Financial Instns stock.
Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company whose news flow reflects its activities in commercial banking, consumer banking and wealth management. As the parent of Five Star Bank and Courier Capital, LLC, the company regularly issues updates on earnings, dividends, capital actions and operational developments that are relevant to investors and market watchers.
News about Financial Institutions, Inc. often includes quarterly and annual earnings releases, where the company reports net income, net interest margin, noninterest income, loan and deposit trends, and credit quality metrics. These releases highlight the performance of its commercial banking, consumer banking and wealth management business lines and provide insight into balance sheet management, including loans, deposits, investment securities and borrowings.
The company also announces capital management actions such as private placements of fixed-to-floating rate subordinated notes, intended in part to redeem existing subordinated notes and support regulatory capital, as well as share repurchase programs authorized by its Board of Directors. Regular dividend declarations on common and preferred stock are disclosed through press releases and accompanying Form 8-K filings.
In addition, Financial Institutions, Inc. publishes information about conference calls and webcasts associated with its earnings releases. These announcements specify the timing of calls, access details and the availability of webcasts and replays. Together, these news items provide a detailed view of how the company manages its banking and wealth management operations, capital structure and shareholder returns over time.
Investors and analysts following FISI can use this news stream to monitor financial performance, capital decisions and strategic priorities across the company’s regional banking and wealth management activities.
Financial Institutions, Inc. (FISI) has announced the pricing of its public offering of 4,000,000 shares of common stock at $25.00 per share, expecting to raise approximately $95.0 million after underwriting costs. The company has also granted underwriters a 30-day option to purchase up to 600,000 additional shares.
The proceeds will be used for general corporate purposes, including a potential balance sheet restructuring through repositioning of available-for-sale debt securities portfolio and debt repayment. The offering is expected to close around December 13, 2024. Keefe, Bruyette & Woods is serving as the sole bookrunner, with Piper Sandler as co-manager.
Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank and Courier Capital, announced the launch of an underwritten public offering of common stock shares. The company will grant underwriters a 30-day option to purchase additional shares. Net proceeds will be used for general corporate purposes, including potential balance sheet restructuring through repositioning of available-for-sale debt securities portfolio and debt repayment.
The offering is being made through a Form S-3 registration statement, with Keefe, Bruyette & Woods serving as sole bookrunner and Piper Sandler as co-manager. FISI currently manages approximately $6.2 billion in assets, offering banking and wealth management services through Five Star Bank and Courier Capital across Western and Central New York.
Financial Institutions (NASDAQ: FISI) has declared its quarterly dividend payments. The company announced a cash dividend of $0.30 per common share, $0.75 per share on Series A 3% preferred stock, and $2.12 per share on Series B-1 8.48% preferred stock. All dividends will be payable on January 2, 2025, to shareholders of record as of December 13, 2024. The company operates through its subsidiaries Five Star Bank and Courier Capital.
Financial Institutions Inc (NASDAQ: FISI), parent company of Five Star Bank and Courier Capital, has appointed Christopher Campise as Senior Vice President and Chief Information Officer. Reporting to CFO W. Jack Plants II, Campise will lead the bank's technology strategies and enhance IT infrastructure. He brings over 25 years of technology leadership experience, joining from Delaware North Companies where he served as Senior Director of Enterprise Architecture. His previous roles include positions at Highmark Blue Cross Blue Shield and the University at Buffalo.
Financial Institutions Inc (NASDAQ: FISI) reported Q3 2024 net income of $13.5 million, down from $25.6 million in Q2 2024 and $14.0 million in Q3 2023. Earnings per diluted share were $0.84, compared to $1.62 in Q2 2024 and $0.88 in Q3 2023. Net interest margin was 2.89%, up 2 basis points from Q2. Total deposits increased by $173.3 million to $5.31 billion, while total loans decreased by $58.5 million to $4.40 billion. The company announced plans to wind down its Banking-as-a-Service offerings by 2025. Credit quality metrics remained solid with net charge-offs at 0.15% of average loans.
Financial Institutions, Inc. (NASDAQ: FISI), the parent company of Five Star Bank and Courier Capital, , has announced its schedule for the release of third quarter 2024 earnings and the subsequent conference call. The company will release its financial results for the quarter ending September 30, 2024, after the market closes on October 24, 2024.
An earnings conference call and audio webcast will be held on October 25, 2024, at 8:30 a.m. Eastern Time. The call will be hosted by Martin K. Birmingham, President and CEO, and W. Jack Plants II, CFO and Treasurer. Investors can access the live webcast in listen-only mode on the company's website at www.FISI-Investors.com. U.S. listeners can also dial in at 1-833-470-1428 using the access code 514361. A replay of the webcast will be available on the company's website for at least 30 days following the call.
Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, has announced its intention to wind down its Banking-as-a-Service (BaaS) offerings. This decision follows a strategic review by the company's management and board, considering factors such as BaaS contribution to core financial results, regulatory expectations, and future investment requirements. As of June 30, 2024, BaaS represented about 2% of deposits ($108 million) and less than 1% of loans ($31 million). The company aims to focus on its core community banking franchise, including retail banking, commercial banking, and wealth management. The wind down process is expected to be completed in 2025, with minimal financial impact. All personnel supporting BaaS will be retained and refocused on core banking operations.
Financial Institutions, Inc. (NASDAQ: FISI), the parent company of Five Star Bank and Courier Capital, , has declared a quarterly cash dividend of $0.30 per common share. The company's Board of Directors also approved dividends for its preferred stockholders: $0.75 per share on Series A 3% preferred stock and $2.12 per share on Series B-1 8.48% preferred stock. All dividends will be paid on October 2, 2024, to shareholders of record as of September 13, 2024. This announcement demonstrates FISI's commitment to providing regular returns to its investors across different share classes.
Financial Institutions, Inc. (NASDAQ: FISI) reported strong Q2 2024 results, with net income of $25.6 million and earnings per share of $1.62. Key highlights include:
- $13.5 million pre-tax gain from sale of SDN Insurance Agency assets
- Net interest margin increased to 2.87%, up 9 basis points from Q1
- Total loans grew 0.4% to $4.46 billion
- Deposits decreased 4.9% to $5.13 billion due to seasonality
- Strong credit quality with net charge-offs of 0.10% of average loans
- Common equity tier 1 ratio improved to 10.03%
The company benefited from margin expansion, improved asset quality, and capital build. Management noted continued focus on liquidity, capital and earnings led to solid core business performance.
Financial Institutions, the parent company of Five Star Bank and Courier Capital, will release its second-quarter 2024 results on July 25, 2024, after market close. An earnings conference call will follow on July 26, 2024, at 8:30 a.m. ET, hosted by President and CEO Martin K. Birmingham and CFO W. Jack Plants II. The call will be accessible via a live webcast on the company's website or by dialing in within the U.S. using access code 713156. A replay will be available for 30 days.
FAQ
What is the current stock price of Financial Instns (FISI)?
What is the market cap of Financial Instns (FISI)?
