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, 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.
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.
FAQ
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