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 diversified financial holding company with a rich history of community banking spanning over 200 years. With approximately $6.2 billion in assets as of December 31, 2023, FISI operates through its main subsidiaries, Five Star Bank and Courier Capital, LLC.
Five Star Bank, a key subsidiary, offers a comprehensive range of consumer and commercial banking services to individuals, municipalities, and businesses across Western and Central New York. With a robust network of over 50 branches and more than 60 ATMs, Five Star Bank ensures that banking services are accessible to its community. The bank takes pride in its dedicated team of over 600 employees who work in an environment of trust, integrity, and mutual respect.
Recently, Five Star Bank has launched a new digital lending capability to enhance convenience for small business customers across New York State. This initiative marks a significant step towards modernizing the bank's services and meeting evolving customer needs.
Beyond traditional banking, Courier Capital, LLC offers customized investment management, financial planning, and consulting services to a diverse clientele, including individuals, families, businesses, institutions, non-profits, and retirement plans. This diversification supports the company's goal of providing comprehensive financial solutions tailored to client needs.
In a strategic move to focus on its core banking business, Financial Institutions, Inc. recently closed the sale of its wholly-owned subsidiary, SDN Insurance Agency, LLC, to NFP Property & Casualty Services, Inc. This transaction not only strengthens FISI's capital position but also ensures continued growth for SDN under NFP's stewardship.
Committed to community involvement, Five Star Bank supports a variety of non-profit organizations and neighborhood charities, underscoring its role as a community-focused bank. Every interaction with Five Star Bank is an opportunity for a professional, relationship-building experience.
For the latest updates and detailed financial information, investors and interested parties can visit FISI-Investors.com or contact Kate Croft, Director of Investor and External Relations at klcroft@five-starbank.com.
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.
Financial Institutions, Inc. (NASDAQ:FISI) reported Q4 and 2021 results showing strong growth. Q4 net income rose to $19.6 million, up from $13.8 million in 2020, translating to $1.21 per diluted share versus $0.84. Annual net income reached $77.7 million compared to $38.3 million in 2020, driven by reduced credit loss provisions and tax benefits. Net interest income for Q4 was $40.9 million, with a margin of 3.15%, while total loans grew by 2.5% quarterly. The company also repurchased 102,000 shares at an average price of $31.45. Overall, the results reflect robust economic recovery and effective management strategies.
Five Star Bank, a subsidiary of Financial Institutions (NASDAQ:FISI), has partnered with NYDIG to offer secure bitcoin transactions. This initiative makes Five Star Bank one of the first U.S. banks to enable clients to buy, sell, and hold bitcoin through its mobile app and online platform. The service is expected to roll out by the end of Q2 2022. NYDIG's platform ensures regulatory compliance, enhancing customer experience and expanding the bank's digital services. The move aims to meet growing customer interest in cryptocurrency and potentially attract new clients.
Financial Institutions, Inc. (NASDAQ:FISI) will announce its fourth quarter and full year results for 2021 on January 31, 2022, after market close. An earnings conference call is scheduled for February 1, 2022, at 8:30 a.m. Eastern Time, featuring President Martin K. Birmingham and CFO W. Jack Plants II. The call will be accessible via a live webcast on the company's website. Financial Institutions, Inc. offers a diverse range of financial services through its subsidiaries, including banking, insurance, and investment management, employing around 600 people across New York State.
Financial Institutions, Inc. (NASDAQ:FISI) will participate in the Sidoti Virtual Micro Cap Conference on December 8-9, 2021. President and CEO Martin K. Birmingham will present on December 9 at 2:30 p.m. ET, joined by CFO W. Jack Plants II. The presentation is accessible live via the provided link. Additionally, the Company will host virtual one-on-ones with investors. Financial Institutions, Inc. offers diverse financial services through its subsidiaries, including banking, insurance, and investment management, employing around 600 staff across Western and Central New York.
Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly cash dividend of $0.27 per common share, alongside preferred stock dividends of $0.75 for Series A and $2.12 for Series B-1. These dividends are payable on January 3, 2022, to shareholders of record as of December 17, 2021.
The company operates through its subsidiaries, offering diverse financial services across Western and Central New York State.
Financial Institutions, Inc. (NASDAQ:FISI) reported a net income of $17.2 million for Q3 2021, a significant increase from $12.3 million in Q3 2020. Net income per diluted share rose to $1.05, up from $0.74 a year earlier. A $541 thousand benefit for credit losses was noted, contrasting with a $4.0 million provision last year. Total loans grew by 2.2%, excluding PPP loans, while net interest income reached $38.3 million. The efficiency ratio was 58%. Shareholder equity increased to $494.0 million. The company also completed strategic acquisitions and branch relocations to boost growth.
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