Financial Institutions, Inc. (FISI) Income Statement Analysis

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Complete financial analysis of Financial Institutions, Inc. (FISI) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Financial Institutions, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.

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Financial Institutions, Inc. (FISI)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.fiiwarsaw.com

About Financial Institutions, Inc.

Financial Institutions, Inc. operates as a holding company for the Five Star Bank, a chartered bank that provides banking and financial services to individuals, municipalities, and businesses in New York. The company offers checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts. Its loan products include term loans and lines of credit; short and medium-term commercial loans for working capital, business expansion, and purchase of equipment; commercial business loans to the agricultural industry; commercial mortgage loans; one-to-four family residential mortgage loans, home improvement loans, closed-end home equity loans, and home equity lines of credit; and consumer loans, such as automobile, secured installment, and personal loans. The company also provides personal insurance products, including automobile, homeowners, boat, recreational vehicle, landlord, and umbrella coverage; commercial insurance comprising property, liability, automobile, inland marine, workers compensation, bonds, crop, and umbrella insurance products; and financial services comprising life and disability insurance, medicare supplements, long-term care, annuities, mutual funds, and retirement programs. In addition, it offers customized investment advisory, wealth management, investment consulting, and retirement plan services, as well as operates a real estate investment trust that holds residential mortgages and commercial real estate loans. The company operates a network of 48 banking offices in Allegany, Cattaraugus, Cayuga, Chautauqua, Chemung, Erie, Genesee, Livingston, Monroe, Ontario, Orleans, Seneca, Schuyler, Steuben, Wayne, Wyoming, and Yates counties, New York. Financial Institutions, Inc. was founded in 1817 and is headquartered in Warsaw, New York.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999	1998
Revenue	200.28M	212.35M	199.56M	182.06M	169.94M	158.14M	147.24M	138.15M	125.15M	120.34M	116.43M	113.29M	105.81M	98.84M	95.73M	84.77M	78.75M	81.38M	96.88M	100.78M	101.57M	98.04M	80.56M	62.27M	54.86M	48.30M
Cost of Revenue	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	200.28M	212.35M	199.56M	182.06M	169.94M	158.14M	147.24M	138.15M	125.15M	120.34M	116.43M	113.29M	105.81M	98.84M	95.73M	84.77M	78.75M	81.38M	96.88M	100.78M	101.57M	98.04M	80.56M	62.27M	54.86M	48.30M
Gross Profit Ratio	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	78.66M	72.07M	79.40M	75.20M	64.64M	63.77M	57.43M	52.40M	49.50M	45.26M	44.48M	47.20M	41.17M	39.58M	37.82M	35.67M	33.18M	33.56M	34.76M	37.01M	33.83M	30.09M	22.96M	16.80M	14.80M	13.10M
Selling & Marketing	1.93M	2.01M	1.70M	2.61M	3.58M	3.58M	2.17M	1.70M	1.12M	805.00K	896.00K	929.00K	1.26M	1.12M	949.00K	1.45M	1.40M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	80.59M	74.09M	81.10M	77.81M	68.22M	67.35M	59.60M	54.09M	50.62M	46.06M	45.38M	48.12M	42.43M	40.70M	38.77M	37.12M	34.58M	33.56M	34.76M	37.01M	33.83M	30.09M	22.96M	16.80M	14.80M	13.10M
Other Expenses	0.00	-43.01M	-183.44M	-214.14M	-178.74M	-146.09M	-23.97M	-24.93M	0.00	0.00	0.00	0.00	18.00K	594.00K	4.67M	68.22M	-44.98M	-114.94M	-94.84M	-91.50M	-81.23M	-46.68M	-21.57M	-7.57M	-13.01M	-9.50M
Operating Expenses	116.18M	2.01M	-102.33M	-136.33M	-110.52M	-78.74M	2.17M	1.70M	1.12M	805.00K	896.00K	929.00K	1.26M	1.12M	949.00K	1.45M	-10.41M	-81.38M	-60.08M	-54.49M	-47.40M	-16.58M	1.38M	9.24M	1.79M	3.60M
Cost & Expenses	116.18M	2.01M	-102.33M	-136.33M	-110.52M	-78.74M	2.17M	1.70M	1.12M	805.00K	896.00K	929.00K	1.26M	1.12M	949.00K	1.45M	-10.41M	-81.38M	-60.08M	-54.49M	-47.40M	-16.58M	1.38M	9.24M	1.79M	3.60M
Interest Income	286.13M	196.11M	167.21M	161.30M	168.80M	152.73M	130.11M	115.23M	105.45M	101.06M	98.93M	97.57M	95.12M	96.51M	94.48M	98.95M	105.21M	103.07M	103.89M	106.18M	111.45M	118.44M	114.47M	96.78M	78.90M	72.80M
Interest Expense	120.42M	28.74M	12.48M	22.31M	38.89M	29.87M	17.50M	12.54M	10.14M	7.28M	7.34M	9.05M	13.26M	17.72M	22.22M	33.62M	47.14M	43.60M	36.40M	30.77M	35.95M	42.59M	49.69M	43.61M	31.88M	30.90M
Depreciation & Amortization	0.00	5.85M	5.62M	5.88M	8.21M	6.48M	6.18M	5.85M	5.43M	4.58M	4.18M	3.83M	3.47M	3.54M	4.07M	3.96M	3.99M	5.63M	5.26M	6.22M	7.55M	5.70M	5.98M	3.03M	3.59M	3.10M
EBITDA	0.00	79.08M	105.27M	53.62M	67.63M	56.01M	49.65M	50.10M	44.31M	43.56M	42.09M	38.56M	43.52M	40.26M	27.51M	0.00	1.34K	0.00	0.00	27.61M	0.00	0.00	0.00	0.00	0.00	0.00
EBITDA Ratio	0.00%	50.77%	49.25%	25.74%	35.70%	54.30%	45.60%	45.34%	43.50%	42.25%	42.45%	42.06%	48.14%	52.51%	48.96%	-11.66%	91.86%	89.52%	43.41%	52.10%	60.77%	88.90%	109.15%	119.70%	109.80%	113.87%
Operating Income	61.38M	106.83M	97.22M	45.72M	59.42M	79.40M	65.97M	56.68M	49.01M	46.26M	45.24M	43.82M	47.47M	48.36M	42.80M	-13.84M	68.35M	1.40K	36.80M	46.28M	54.17M	81.46M	81.94M	71.51M	56.65M	51.90M
Operating Income Ratio	30.65%	50.31%	48.72%	25.11%	34.97%	50.21%	44.81%	41.03%	39.16%	38.44%	38.86%	38.68%	44.86%	48.93%	44.71%	-16.33%	86.79%	0.00%	37.98%	45.93%	53.33%	83.09%	101.72%	114.84%	103.26%	107.45%
Total Other Income/Expenses	1.67M	-17.12M	-13.08M	-13.72M	-11.70M	-13.99M	-10.91M	-8.23M	-9.67M	-9.93M	-9.15M	-1.60M	-6.90M	-6.72M	-4.49M	-47.46M	-7.55M	1.38M	-1.40M	1.18M	-35.95M	-42.59M	-49.69M	-43.61M	-31.88M	-30.90M
Income Before Tax	63.05M	70.97M	97.22M	45.72M	59.42M	49.53M	43.47M	44.14M	38.88M	38.98M	37.91M	34.77M	34.21M	30.64M	20.58M	-47.46M	21.21M	23.61M	2.85M	15.51M	18.22M	38.88M	32.25M	27.90M	24.77M	21.00M
Income Before Tax Ratio	31.48%	33.42%	48.72%	25.11%	34.97%	31.32%	29.52%	31.95%	31.06%	32.39%	32.56%	30.69%	32.34%	31.00%	21.50%	-55.99%	26.93%	29.01%	2.94%	15.39%	17.94%	39.65%	40.03%	44.81%	45.15%	43.48%
Income Tax Expense	12.79M	14.40M	19.53M	7.39M	10.56M	10.01M	9.95M	12.21M	10.54M	9.63M	12.38M	11.32M	11.42M	9.35M	6.14M	-21.30M	4.80M	6.25M	-1.77M	3.02M	3.98M	12.42M	11.03M	9.80M	8.81M	7.40M
Net Income	50.26M	56.57M	77.70M	38.33M	48.86M	39.53M	33.53M	31.93M	28.34M	29.36M	25.53M	23.45M	22.80M	21.29M	14.44M	-26.16M	16.41M	17.36M	2.17M	12.49M	14.25M	26.46M	21.21M	18.10M	15.96M	13.60M
Net Income Ratio	25.10%	26.64%	38.94%	21.05%	28.75%	24.99%	22.77%	23.11%	22.64%	24.39%	21.93%	20.70%	21.55%	21.54%	15.09%	-30.86%	20.84%	21.34%	2.24%	12.40%	14.03%	26.98%	26.33%	29.07%	29.08%	28.16%
EPS	3.17	3.58	4.81	2.30	2.97	2.48	2.13	2.11	1.91	2.01	1.75	1.60	1.50	1.62	0.99	-2.42	1.34	1.40	0.06	0.98	1.14	2.26	1.79	1.51	1.38	1.22
EPS Diluted	3.15	3.56	4.78	2.30	2.96	2.48	2.13	2.10	1.90	2.00	1.75	1.60	1.49	1.61	0.99	-2.42	1.33	1.40	0.06	0.98	1.13	2.23	1.77	1.51	1.38	1.22
Weighted Avg Shares Out	15.38M	15.38M	15.84M	16.02M	15.97M	15.91M	15.04M	14.44M	14.08M	13.89M	13.74M	13.70M	13.07M	10.84M	10.73M	10.82M	11.15M	11.34M	11.18M	11.22M	11.19M	11.04M	11.02M	11.00M	10.47M	9.92M
Weighted Avg Shares Out (Dil)	15.48M	15.47M	15.94M	16.06M	16.03M	15.96M	15.09M	14.49M	14.14M	13.95M	13.78M	13.75M	13.16M	10.91M	10.77M	10.82M	11.18M	11.34M	11.18M	11.22M	11.28M	11.19M	11.14M	11.00M	10.47M	9.92M

Financial Institutions, Inc. Announces Quarterly Cash Dividend

November 15, 2023globenewswire.com

WARSAW, N.Y., Nov. 15, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company”), parent company of Five Star Bank, SDN Insurance Agency, LLC, and Courier Capital, LLC, announced today that its Board of Directors has approved a quarterly...

Financial Institutions Makes For A Great Prospect

November 14, 2023seekingalpha.com

Financial Institutions is a small bank trading at low multiples, making it an attractive prospect. The bank operates through multiple subsidiaries, including a full-service banking office, an insurance agency, and investment advisory firms. Despite some volatility in financial performance, the...

Financial Institutions, Inc. (FISI) Q3 2023 Earnings Call Transcript

October 27, 2023seekingalpha.com

Financial Institutions, Inc. (NASDAQ:FISI ) Q3 2023 Earnings Conference Call October 27, 2023 8:30 AM ET Company Participants Kate Croft - Director of Investor Relations Martin Birmingham - President & CEO Jack Plants - Executive Vice President and Chief Financial...

Are Investors Undervaluing Financial Institutions (FISI) Right Now?

October 27, 2023zacks.com

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong...

Financial Institutions (FISI) Q3 Earnings Top Estimates

October 26, 2023zacks.com

Financial Institutions (FISI) came out with quarterly earnings of $0.88 per share, beating the Zacks Consensus Estimate of $0.86 per share. This compares to earnings of $0.88 per share a year ago.

Financial Institutions, Inc. Announces Third Quarter 2023 Results

October 26, 2023globenewswire.com

WARSAW, N.Y., Oct. 26, 2023 (GLOBE NEWSWIRE) -- Financial Institutions, Inc. (NASDAQ: FISI) (the “Company,” “we” or “us”), parent company of Five Star Bank (the “Bank”), SDN Insurance Agency, LLC (“SDN”) and Courier Capital, LLC (“Courier Capital”), today reported financial...

Courier Capital, LLC Promotes James E. Iglewski to President, Thomas J.

October 24, 2023globenewswire.com

New leadership structure supports the continued growth of the Five Star Bank affiliate, which is now one of the largest registered investment advisory and wealth management firms in Western New York New leadership structure supports the continued growth of the...