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) will announce its third-quarter results for the period ending September 30, 2021, after market closure on October 28, 2021. An earnings conference call is scheduled for October 29, 2021, at 8:30 a.m. ET, hosted by CEO Martin K. Birmingham and CFO W. Jack Plants II. This event will also be available via audio webcast on the company’s website. The company operates through its subsidiaries, offering services in banking, insurance, and investment management, employing approximately 600 individuals.
Financial Institutions, Inc. (NASDAQ:FISI) announced the acquisition of Buffalo-based North Woods Capital Benefits LLC by its insurance subsidiary SDN Insurance Agency on August 2, 2021. This strategic acquisition aims to enhance SDN's employee benefits and human resources consulting capabilities. William Wadsworth, North Woods' Founder, and Sarah Kirke, Director of Client Service, will continue their roles within SDN. The acquisition aligns with SDN's commitment to delivering innovative solutions and is a crucial step toward expanding its service offerings.
Financial Institutions, Inc. (NASDAQ:FISI) announced a quarterly cash dividend of $0.27 per common share, along with $0.75 on its Series A preferred stock and $2.12 on Series B-1 preferred stock. All dividends are payable on October 4, 2021, to shareholders of record by September 17, 2021. The Company operates through subsidiaries providing various financial services, including banking, insurance, and investment management, employing around 600 individuals across New York State.
On August 23, 2021, Five Star Bank opened a new 2,400-square-foot branch in Elmira, NY, enhancing its consumer and commercial lending services in the region. This modern branch, part of the NYS Downtown Revitalization Initiative, allows seamless interactions between bank associates and customers, eliminating traditional teller lines. The bank's commitment to sustainability is evident with energy-efficient materials used in construction. Additionally, Five Star Bank donated $10,000 to local organizations to celebrate the opening. The branch operates Monday to Friday with extended hours.
Five Star Bank, a subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), announced the appointment of Laurie R. Collins as Chief Human Resources Officer. Collins brings over 15 years of public company experience, having previously worked at Columbus McKinnon Corporation and PepsiCo. Her role includes leadership in organizational design, talent acquisition, and diversity initiatives. President Martin K. Birmingham expressed optimism about her contributions towards enhancing company culture and HR practices.
Financial Institutions, Inc. (NASDAQ:FISI) reported a net income of $20.2 million for Q2 2021, up from $11.1 million in Q2 2020. This increase was significantly driven by a $4.6 million benefit from credit losses, contrasting with a provision of $3.7 million in the prior year. Net income per diluted share rose to $1.25 from $0.67. Total assets reached $5.30 billion, with total loans at $3.63 billion. Notably, net interest margin decreased to 3.06% from 3.29% in Q1 2021. The company opened two new branches in Buffalo, aiming to expand its urban market presence.
Financial Institutions, Inc. (NASDAQ:FISI) plans to announce its second-quarter results for the period ending June 30, 2021, after market close on July 29, 2021. The Company will conduct an earnings conference call on July 30, 2021, at 8:30 a.m. Eastern Time, featuring President and CEO Martin K. Birmingham and CFO W. Jack Plants II. The live audio webcast will be accessible through the Company’s website, with a replay available for at least 30 days. Financial Institutions, Inc. offers diversified financial services through its subsidiaries, including Five Star Bank, SDN Insurance Agency, Courier Capital, and HNP Capital.
Five Star Bank has opened its sixth branch in Greater Buffalo at 2222 Seneca Street, showcasing a commitment to community banking and economic revitalization. This branch, designed as a financial solution center, offers various banking services without teller lines, enhancing customer interaction. The construction emphasizes sustainability, utilizing green materials. In a community initiative, the Bank will donate $10 for each account opened until August 31, 2021, to the Seneca-Babcock Community Association. The new location complements Five Star's growth strategy in the region.
Five Star Bank has inaugurated its new full-service branch at 451 Elmwood Avenue, Buffalo, aiming to enhance its presence in the region. This branch is part of a larger initiative as Five Star Bank continues to expand its services, offering a range of consumer and commercial banking options. The design focuses on customer convenience with no teller lines and incorporates advanced technology. Additionally, for each new checking account opened, the bank will donate $10 to the Westminster Economic Development Initiative, emphasizing its commitment to community support.
Financial Institutions, Inc. (NASDAQ:FISI) announced key leadership appointments, including Susan R. Holliday as Chair of the Board and the election of new directors Mauricio F. Riveros and Mark A. Zupan. Holliday, previously Vice Chair, aims to enhance long-term shareholder value. The Board demonstrated commitment to diversity, with a balanced tenure and gender representation. Several committee leadership roles were also filled, emphasizing the organization’s focus on inclusive governance.
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