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.
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Financial Institutions, Inc. (NASDAQ:FISI) reported its financial and operational results for Q1 2023, revealing a net income of $12.1 million, consistent with Q4 2022 but down from $15.0 million in Q1 2022. Net income available to common shareholders was $11.7 million, or $0.76 per diluted share. Total loans increased by 4.8% from Q4 2022 to $4.24 billion, and total deposits rose to $5.14 billion, reflecting seasonal increases.
Net interest income fell by 3.1% from Q4 2022 to $41.8 million, impacted by rising funding costs. Noninterest income remained stable at $10.9 million but decreased from the previous year. The company announced a 3.4% common stock dividend increase, marking its 13th consecutive annual increase. Strong credit quality metrics continued to be reported, with non-performing loans at 0.21% of total loans.
Financial Institutions, Inc. (NASDAQ: FISI) will announce its first-quarter results for the period ending March 31, 2023, on April 26, 2023, after market close. The management will conduct an earnings conference call on April 27, 2023, at 8:30 a.m. Eastern Time, which will feature President and CEO Martin K. Birmingham and CFO W. Jack Plants II. Interested parties can listen via the Company’s website or by phone using the provided access code. Financial Institutions, Inc. is a financial holding company with about $5.8 billion in assets, offering banking, insurance, and wealth management services through its subsidiaries.
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Financial Institutions, Inc. (NASDAQ: FISI) announced its 2023 Annual Meeting of Shareholders will be held virtually on June 21 at 10:00 am ET. The record date for voting is April 24, 2023. Details on participation will be provided in a Proxy Statement filed with the SEC by April 27, 2023. The Company offers diverse financial services with approximately $5.8 billion in assets, operating through subsidiaries including Five Star Bank, SDN Insurance Agency, Courier Capital, and HNP Capital.
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Financial Institutions, Inc. (NASDAQ: FISI) announced the appointment of Gary Pacos as Chief Risk Officer of Five Star Bank. With over 30 years of risk management experience, Pacos previously held senior roles at HSBC Bank USA, M&T Bank, and Bank OZK, where he significantly improved compliance systems. He will oversee the company's risk management functions, succeeding Randy Phillips, who transitions to Deputy Chief Credit Officer. This leadership change emphasizes the bank's commitment to credit discipline and risk management. Financial Institutions, Inc. has approximately $5.8 billion in assets and operates several financial service subsidiaries.
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