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.
Overview
Financial Institutions Inc (FISI) is a diversified financial services holding company distinguished by its deep commitment to community banking and comprehensive financial solutions. Through its subsidiary, Five Star Bank, FISI delivers a wide range of consumer and commercial banking services including deposit products, lending, and tailored financial solutions. The company is also supported by Courier Capital, LLC, which expands its service offerings to include customized investment management, financial planning, and consulting services.
Core Business Segments
At the heart of FISI is its robust community banking operation, which has been built on a longstanding heritage of trust and credibility. Five Star Bank caters to a varied clientele—from local individuals and families to municipalities and businesses—providing them with personalized financial services that include:
- Consumer and commercial banking solutions
- Tailored lending and credit services
- Deposit and transactional services
Complementing its banking operations is FISI's commitment to wealth and investment management. With Courier Capital, LLC at the helm of its advisory and financial planning segment, FISI offers:
- Customized investment management solutions
- Strategic financial planning
- Consulting services for both individual and institutional clients
Market Position and Industry Influence
FISI differentiates itself in the competitive landscape by integrating its rich community banking experience with diversified financial service offerings. By prioritizing relational banking and community engagement, the company builds long-term customer relationships and fosters local economic development. Its decision to divest non-core assets, such as its insurance agency, underscores a deliberate strategy to consolidate focus on core areas that have consistently demonstrated strong customer loyalty and operational excellence.
Operational Excellence and Strategic Focus
The company has developed a comprehensive operational model that leverages deep local insights and experienced teams. Key operational features include:
- A dedicated, professionally staffed network delivering high-touch banking and investment services
- An emphasis on personalized, relationship-driven customer interactions
- A balanced portfolio of services designed to address diverse financial needs while minimizing exposure to non-core financial risks
FISI's integrated operational approach has established a solid reputation for quality, expertise and responsiveness, making it a noteworthy entity in the financial services industry.
Industry-Specific Expertise
With specialized focus areas such as community banking, wealth management and investment consulting, FISI employs industry-specific terminologies and models that resonate with both seasoned investors and financial analysts. The company strategically aligns its offerings with market demands without compromising on prudent risk management practices or customer-centric service delivery. This balance of operational expertise and strategic focus forms the cornerstone of its market significance.
Financial Institutions (NASDAQ: FISI) has scheduled its first quarter 2025 earnings release and conference call. The company, parent of Five Star Bank and Courier Capital, will announce Q1 2025 results after market close on April 28, 2025.
The earnings conference call and audio webcast will take place on April 29, 2025, at 8:30 a.m. Eastern Time, led by President and CEO Martin K. Birmingham and CFO W. Jack Plants II. U.S. participants can join via phone at 1-833-470-1428 using access code 737945. A live webcast will be available on FISI-Investors.com, with a replay accessible for at least 30 days.
Financial Institutions Inc (NASDAQ: FISI) has reached a settlement in a civil litigation case regarding its auto loan notification process. The lawsuit, pending since 2017 in Pennsylvania state court, concerned repossession notice language issued to defaulting borrowers between 2011 and 2021.
The settlement agreement was executed on March 7, 2025, pending Court approval. As a result, the company will record a $23.0 million litigation accrual ($17.1 million after tax) in Q4 2024 financial statements. The company maintains its 2025 guidance unchanged and does not expect additional accruals for this matter in future periods.
Five Star Bank (NASDAQ: FISI) has appointed Eric W. Marks as Senior Vice President and Chief Consumer Banking Officer. Marks brings nearly 20 years of banking experience to the $6-billion-asset community bank serving Western and Central New York.
In his new role, Marks will oversee the Bank's consumer lines of business, including Retail Banking, Residential Mortgage, and Small Business Banking, along with Customer Contact Center and Collections departments. He will report to President and CEO Martin K. Birmingham and join the Executive Management Committee.
Marks joins from M&T Bank, where he served as Retail Segment Chief Financial Officer. During his 19-year tenure at M&T, he held various leadership positions in corporate and consumer strategy, mortgage, branch distribution planning, consumer deposit pricing, and indirect lending. Based at Five Star Bank Centre in Amherst, N.Y., Marks holds a bachelor's degree from Mercyhurst University and an M.B.A. from the University at Buffalo.
Financial Institutions Inc (NASDAQ: FISI) announced a 3.3% increase in its quarterly cash dividend to $0.31 per common share, up from the previous quarter's $0.30. The dividend represents an annualized yield of 4.4% based on the February 12, 2025 closing share price of $28.00.
The company also declared dividends of $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 April 2, 2025, to shareholders of record as of March 14, 2025.
Financial Institutions, Inc. (NASDAQ: FISI) reported a Q4 2024 net loss of $65.7 million, compared to net income of $13.5 million in Q3 2024 and $9.8 million in Q4 2023. The loss primarily resulted from a strategic balance sheet restructuring involving the sale of $653.5 million in securities at a pre-tax loss of $100.2 million.
Key Q4 2024 metrics include: net interest margin of 2.91%, total loans of $4.48 billion (up 1.7% quarterly), and total deposits of $5.10 billion. The company completed an equity offering raising approximately $108.5 million through the sale of 4,600,000 common shares.
For full year 2024, FISI reported a net loss of $24.5 million compared to net income of $50.3 million in 2023. The company maintained stable credit quality with annual net charge-offs to average loans of 0.20% for both 2024 and 2023.
Financial Institutions Inc (NASDAQ: FISI) announced the appointment of Angela J. Panzarella as a new independent member of the Boards of Directors for both the company and Five Star Bank on January 22, 2025. Panzarella brings significant experience from her roles as CEO of YWCA Rochester and Monroe County (2018-2020) and her 20-year tenure at Bausch + Lomb, where she served as President of Canada and Latin American Division.
The appointment increases the board size to twelve members, with eleven being independent. Panzarella will serve on the Audit and Management Development & Compensation Committees. Her experience includes previous board service at Transcat Inc, where she chaired the Compensation Committee and served on Technology and Governance Committees. She also held the position of President at ACM Medical Laboratory and various executive roles at Bausch + Lomb.
Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank and Courier Capital, has scheduled its fourth quarter and full year 2024 earnings release for January 30, 2025, after market close. The company will host an earnings conference call and audio webcast on January 31, 2025, at 8:30 a.m. Eastern Time.
The call will be led by Martin K. Birmingham, President and CEO, and W. Jack Plants II, CFO and Treasurer. U.S. listeners can join by dialing 1-833-470-1428 with access code 393817. A live webcast will be available on the company's investor relations website, with the replay accessible for at least 30 days.
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.
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