Financial Institutions

Financial Institutions, Inc. is a holding company, which engages in the provision of financial services. It operates through the following segments: Banking, Non-Banking, and Holding Company and Other. The Banking segment includes retail and commercial banking operations. The Non-Banking segment consists of the activities of SDN, a full-service insurance agency that offers insurance services to both personal and business clients, and Courier Capital, an investment advisor and wealth management firm that delivers customized investment management, investment consulting, and retirement plan services to individuals, businesses, institutions, foundations, and retirement plans. The company was founded in 1931 and is headquartered in Warsaw, NY.

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Financial Institutions (FISI) reports strong Q4 performance and strategic growth outlook

Financial Institutions (FISI) showcased strong performance in Q4 2022, driven by organic loan growth and robust loan portfolio metrics.
Despite challenges like economic uncertainties, the company's strategic strengths and growth initiatives position it well for future opportunities.
Opportunities in Banking-as-a-Service initiatives, market expansions, and risk management enhancements offer avenues for sustained growth and resilience.
Overall, Financial Institutions (FISI) remains focused on proactive strategies to navigate challenges and leverage opportunities for continued success.

Financial Institutions, Inc. reports Q1 earnings decline but eyes growth

FISI's Q1 performance reflected a decline in net income due to higher provisions and expenses, offset by strong loan growth and stable asset quality.
The company's strategic expansion into Central New York and focus on Banking-as-a-Service initiatives signal growth potential.
Challenges include margin pressure and expense management, but opportunities lie in loan portfolio growth and deposit initiatives.
Overall, FISI's solid start in 2023 and disciplined approach position it for future success and profitability.

Financial Institutions (FISI) reports solid Q2 performance and eyes growth opportunities

Financial Institutions (FISI) delivered a solid performance in Q2, driven by loan growth and strong credit quality metrics.
While facing challenges such as seasonal deposit fluctuations, the company's strategic focus on diversification and customer base expansion positions it well for the future.
Opportunities lie in leveraging the merged subsidiaries for wealth management growth and exploring new avenues for revenue generation in the Mid-Atlantic region.

Financial Institutions (FISI) reports stable Q3 performance amidst lending challenges

Financial Institutions (FISI) faced challenges in commercial lending and slower BaaS growth but maintained stable performance overall. The company's strengths lie in deposit growth, asset quality, and successful retail campaigns. Opportunities exist in BaaS expansion, commercial lending recovery, and continued focus on credit quality and internal functions.

Financial Institutions, Inc. reports solid 2023 performance amidst challenges

Financial Institutions, Inc. (FISI) navigated challenges in 2023 to achieve solid financial performance, driven by deposit and loan growth. While facing concerns about rising interest rates and nonperforming loans, FISI remains focused on strategic initiatives for profitability. The company's proactive efforts and cost-saving measures position it well for future growth and operational efficiency.

Financial Institutions, Inc. faces Q1 challenges but shows resilience

FISI navigated challenges in Q1 2024, balancing setbacks from a fraud event with gains from the sale of its insurance subsidiary.
Despite flat loan growth, the company excelled in deposit attraction and demonstrated resilience in maintaining capital strength.
Management's strategic focus on key areas like commercial lending and deposit growth positions FISI for future opportunities.
Anticipated slowdown in deposit betas and stable margins provide a positive outlook for the company's financial performance in 2024.

Financial Institutions (FISI) reports record earnings and pursues growth opportunities

Financial Institutions (FISI) delivered a strong performance in Q2 2024, with record net income and notable improvements in asset quality metrics. Despite challenges related to legal actions, the company remains focused on growth opportunities through margin expansion and maintaining a strong financial position.

Financial Institutions, Inc. reports solid Q3 performance amidst strategic shifts

Financial Institutions, Inc. delivered a solid performance in Q3 with notable deposit growth and efficient expense management.
While facing challenges such as the wind down of a non-contributing service, FISI remains focused on core banking operations.
Opportunities lie in rebuilding commercial pipelines, optimizing capital efficiency, and diversifying revenue streams for sustained growth.

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WARSAW, N.Y., Aug.  05, 2020  (GLOBE NEWSWIRE) -- Five Star Bank (the “Bank”), subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), announced today that Timothy Perrotta has been named Senior Vice President and Director of Human Resources. In this role, Perrotta assumes leadership of all Human Resources functions.

Five Star Bank Names Timothy Perrotta Senior Vice President and Director of Human Resources

Financial Institutions, Inc. (FISI) CEO Marty Birmingham on Q2 2020 Results - Earnings Call Transcript

WARSAW, N.Y., July  31, 2020  (GLOBE NEWSWIRE) -- Five Star Bank (the “Bank”), subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), announced today that Kevin Quinn will be joining the Bank on August 10th as Senior Vice President and Commercial Banking Executive. Quinn will report to President and CEO, Martin K. Birmingham. 

Five Star Bank Names Kevin Quinn Senior Vice President and Commercial Banking Executive

CHICAGO--(BUSINESS WIRE)--Xamin announced the final whitepaper in its five-part series, "Don't Forget About Business Continuity And Disaster Recovery."

Xamin’s Latest Whitepaper Urges Financial Institutions to Re-Shape Their Disaster Recovery and Business Continuity Plans Post-Pandemic

Reimagining Local Banking with Technology Enhancements and Modernized Staffing Approach Resulting in Five Branch Consolidations and a Six Percent Reduction in Workforce Reimagining Local Banking with Technology Enhancements and Modernized Staffing Approach Resulting in Five Branch Consolidations and a Six Percent Reduction in Workforce

Five Star Bank Announces Transformation To Full-Service Branch Model

CHICAGO--(BUSINESS WIRE)--Xamin launched the fourth whitepaper in its five-part series, “Rise of the Remote Workforce: It’s Time to Embrace Mobile & Cloud Computing."

Xamin Whitepaper Reveals How Moving to The Cloud Helps Financial Institutions Secure Their Remote Workforce

WARSAW, N.Y., July  08, 2020  (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”), will release results for the second quarter ended June 30, 2020, after the market closes on July 29, 2020.

Financial Institutions, Inc. Schedules Second Quarter Earnings Release and Conference Call

WARSAW, N.Y., July  01, 2020  (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank (the “Bank”), SDN Insurance Agency LLC (“SDN”), Courier Capital, LLC (“Courier Capital”), and HNP Capital, LLC (“HNP Capital”), announced today that William L. Kreienberg stepped down from his position as Executive Vice President, Chief Banking and Revenue Officer of the Company and Five Star Bank, effective June 26, 2020. Mr. Kreienberg’s responsibilities will be assumed by other members of the Company’s leadership team. 

Financial Institutions, Inc. Announces Change in Leadership

The streaming giant plans to reallocate 2% of its cash holdings.

Netflix commits $100M to financial institutions supporting Black communities

WARSAW, N.Y., May  21, 2020  (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), the parent company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”), announced today a change to the location of the Company’s 2020 Annual Meeting of Shareholders. In response to public health concerns surrounding the COVID-19 pandemic and to support the health and well-being of our shareholders, employees, partners and communities, the Company will host its Annual Meeting of Shareholders through remote communication in a virtual-only format. Shareholders will not be able to attend the meeting physically. The previously announced date and time of the meeting, Wednesday, June 17, 2020, at 10:00 a.m. Eastern time has not changed.

Financial Institutions, Inc. Announces Change to Virtual-Only Meeting for its 2020 Annual Meeting of Shareholders

MONETT, Mo., May 18, 2020 /PRNewswire/ -- Jack Henry & Associates, Inc. (NASDAQ: JKHY) is a leading provider of technology solutions and payment processing services primarily for the financial services industry. Today, the company announced it has launched a solution to help prepare...

Jack Henry Helps Financial Institutions Manage Forgiveness of Paycheck Protection Program Loans

Financial Institutions' (FISI) CEO Marty Birmingham on Q1 2020 Results - Earnings Call Transcript

With consumers paying an average of 20 bills every month, searching the Internet or calling around to find out who can help is a daunting task. A new website is here to help.

Having Trouble Paying Your Bills? How Financial Institutions, Telecoms, And Utilities Are Helping

WARSAW, N.Y. , March  23, 2020  (GLOBE NEWSWIRE) -- Five Star Bank (the “Bank”), subsidiary of Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), today announced measures enacted to mitigate the impact of the COVID-19 virus on its customers, associates and communities.

Five Star Bank Announces Measures to Support Customers, Associates and Communities Affected by COVID-19

WARSAW, N.Y., Feb.  27, 2020  (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ:FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”) and HNP Capital, LLC (“HNP Capital”), announced today that its Board of Directors has approved a quarterly cash dividend of $0.26 per outstanding common share – an increase of 4% from the most recent quarterly cash dividend – and the equivalent of $1.04 annually. The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock. All dividends are payable April 2, 2020, to shareholders of record on March 19, 2020.

Financial Institutions, Inc. Announces Increase in Common Stock Dividend

Federal and State Regulatory Approvals Received

Five Star Bank to Open Two Branches in the City of Buffalo

Financial Institutions, Inc. (FISI) CEO Marty Birmingham on Q4 2019 Results - Earnings Call Transcript

Chinese financial institutions are completely capable of coping with foreign competition as the sector is freed up, the central bank said on Thursday, after China and the United States signed a initial deal on trade.

Chinese financial institutions can cope with foreign competition: central bank

WARSAW, N.Y., Dec.  23, 2019  (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC (“SDN”), Courier Capital, LLC (“Courier Capital”), and HNP Capital, LLC (“HNP Capital”), announced today that Samuel J. Burruano Jr. was named General Counsel. In addition to his duties as General Counsel, he will also continue to serve as Senior Vice President and Corporate Secretary.

Samuel J. Burruano Jr. Named General Counsel of Financial Institutions, Inc.

WARSAW, N.Y. , Dec.  19, 2019  (GLOBE NEWSWIRE) -- Five Star Bank (the “Bank”), subsidiary of Financial Institutions, Inc. (NASDAQ:FISI), today announced the hiring of W. Jack Plants II as Senior Vice President and Corporate Treasurer. In this role, he is dedicated to overall management of the Bank’s treasury function including liquidity, interest rate risk and the investment portfolio. This addition provides Justin K. Bigham, our Executive Vice President and Chief Financial Officer, with greater opportunity to meet the evolving financial needs of our organization and manage the complexity that comes with our continued growth and expansion.

W. Jack Plants II Joins Five Star Bank as Corporate Treasurer

WARSAW, N.Y., Nov.  26, 2019  (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (the “Company”) (NASDAQ: FISI) announced today that its Board of Directors has approved a quarterly cash dividend of $0.25 per outstanding common share. The Company also announced dividends of $0.75 per share on its Series A 3% preferred stock and $2.12 per share on its Series B-1 8.48% preferred stock. All dividends are payable January 2, 2020, to shareholders of record on December 13, 2019.

Financial Institutions, Inc.  Announces Quarterly Cash Dividend

Financial Institutions, Inc. (FISI) CEO Martin Birmingham on Q3 2019 Results - Earnings Call Transcript

Dividends are one of the best benefits to being a shareholder, but finding a great dividend stock is no easy task. Does Financial Institutions (FISI) have what it takes?

Why Financial Institutions (FISI) is a Great Dividend Stock Right Now

Carbon Black Inc

WALTHAM, Mass., Aug.  27, 2019  (GLOBE NEWSWIRE) -- Carbon Black (CBLK), a leader in cloud-native endpoint protection, today announced that its Chief Cybersecurity Officer, Tom Kellermann, will keynote the Information Technology Conference, hosted by the Federal Financial Institutions Examination Council (FFIEC) in Arlington, VA.

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