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. (NASDAQ:FISI) reported second-quarter net income of $15.6 million, down from $20.2 million year-over-year. Earnings per share decreased to $0.99 from $1.25. Key factors include a $563 thousand provision for credit losses compared to a $4.6 million benefit last year, and a 2.4 million rise in salaries due to staff investments and increased compensation. The company also declared a $0.29 dividend per share, consistent with the previous quarter and a 7.4% increase year-over-year. Total assets reached $5.57 billion.
Financial Institutions, Inc. (NASDAQ:FISI) will announce its second-quarter financial results on July 28, 2022, after market close. The earnings conference call is scheduled for July 29, 2022, at 8:30 a.m. Eastern Time, hosted by CEO Martin K. Birmingham and CFO W. Jack Plants II. The call will be accessible via the company’s website or by phone. Financial Institutions, Inc. operates Five Star Bank, SDN Insurance Agency, Courier Capital, and HNP Capital, providing diverse financial services across New York State and beyond. More information is available at www.fiiwarsaw.com.
Financial Institutions, Inc. (NASDAQ:FISI) announced a stock repurchase program for up to 766,447 shares, representing approximately 5% of its outstanding shares. This initiative allows for repurchases in open market transactions under SEC Rule 10b5-1, depending on various factors such as market conditions and corporate requirements. The program provides flexibility, with no obligation to purchase shares and the potential for modification or discontinuation.
Five Star Bank, a subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), has joined the newly launched Banking-as-a-Service (BaaS) Association as a founding member. The association, formed by Bankers Helping Bankers, aims to promote and support BaaS while coordinating legislative advocacy and best practices. Five Star Bank's EVP, Sean Willett, emphasized the importance of fintech partnerships for community banks. The growing BaaS sector offers banks profitable innovation opportunities, but it also requires compliance and operational capabilities.
Financial Institutions, Inc. (NASDAQ:FISI) has declared a quarterly cash dividend of $0.29 per common share, alongside dividends of $0.75 for Series A preferred stock and $2.12 for Series B-1 preferred stock. The dividends are payable on July 5, 2022, to shareholders on record as of June 17, 2022. This announcement reflects the company's ongoing commitment to providing returns to its shareholders while engaging in diversified financial services through its subsidiaries, including Five Star Bank.
Financial Institutions, Inc. (NASDAQ:FISI) reported first-quarter 2022 net income of $15 million, down from $20.7 million in Q1 2021, with net income available to common shareholders at $14.6 million or $0.93 per share. A $2.3 million credit loss provision contrasted with a $2 million benefit in 2021. Revenue from PPP loans decreased by $2.5 million. Total loans increased by 1.5% quarter-over-quarter, while deposits rose by $175.8 million. The Board declared a quarterly dividend of $0.29 per share, up 7.4%. The equity ratio declined to 7.63% largely due to unrealized losses in securities.
Financial Institutions, Inc. (NASDAQ:FISI) is set to release its first-quarter financial results for the period ending March 31, 2022, after market close on April 27, 2022. An earnings conference call will be held on April 28, 2022, at 8:30 a.m. ET, led by CEO Martin K. Birmingham and CFO W. Jack Plants II. The call will be available via audio webcast on the company's website. Financial Institutions, Inc. operates through its subsidiaries, including Five Star Bank, SDN Insurance Agency, Courier Capital, and HNP Capital, providing a range of banking, insurance, and investment services.
Financial Institutions, Inc. (NASDAQ:FISI) has scheduled its 2022 Annual Meeting of Shareholders for June 14, 2022, at 10:00 am ET, to be conducted virtually. The record date for voting is April 19, 2022. Proxy details will be available by April 27, 2022, filed with the SEC. The company operates through Five Star Bank, SDN Insurance Agency, Courier Capital, and HNP Capital, employing around 600 individuals across multiple financial services sectors throughout New York State and Maryland.
Five Star Bank, a subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), announced the formation of a new commercial real estate lending team in Baltimore and Washington, D.C. John G. Mangan has been appointed as Senior Vice President and Mid-Atlantic President to lead this initiative, bringing over 15 years of experience. The new team includes three experienced Commercial Real Estate Relationship Managers from Howard Bank. This strategic move aims to expand Five Star Bank's commercial lending operations in a competitive market, leveraging the growing opportunities in community banking.
Financial Institutions, Inc. (NASDAQ:FISI) reported a quarterly cash dividend of $0.29 per share, marking a 7.4% increase from the previous quarter and the 12th consecutive annual dividend increase. The dividends will be payable on April 4, 2022, to shareholders on record by March 18, 2022. Additionally, the company declared dividends of $0.75 per share on Series A preferred stock and $2.12 on Series B-1 preferred stock. This decision reflects the Board's confidence in the company's strategy and performance amidst strong earnings in 2021.