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Financial Institutions(FISI) - 2021 Q4 - Earnings Call Transcript
2022-02-01 16:14
Financial Institutions, Inc. (NASDAQ:FISI) Q4 2021 Earnings Conference Call February 1, 2022 8:30 AM ET Company Participants Shelly Doran - Director, Investor and External Communications Marty Birmingham - President & CEO Jack Plants - CFO Conference Call Participants Alex Twerdahl - Piper Sandler Bryce Rowe - Hovde Group Damon DelMonte - KBW Disclaimer*: This transcript is designed to be used alongside the freely available audio recording on this page. Timestamps within the transcript are designed to help ...
Financial Institutions(FISI) - 2021 Q3 - Earnings Call Presentation
2021-12-14 18:58
Rising to meet the challenge. FINANCIAL INSTITUTIONS, INC. (Nasdaq: FISI) Third Quarter 2021 Earnings Presentation October 28, 2021 Safe Harbor Statement Statements contained in this presentation which are not historical facts and which pertain to future operating results of Financial Institutions, Inc. (the "Company") and its subsidiaries constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe the objectives, p ...
Financial Institutions(FISI) - 2021 Q3 - Earnings Call Transcript
2021-10-29 15:27
Financial Data and Key Metrics Changes - The company reported net income of $17.2 million or $1.50 per diluted share, down from $20.2 million or $1.25 per share in the second quarter, but significantly higher than $12.3 million or $0.74 per share in the third quarter of 2020 [6] - Pre-tax pre-provision income for the quarter was $21.2 million, an increase of $209,000 from the second quarter of 2021 and $1.9 million from the third quarter of 2020 [7] - Net interest income for the quarter was $38.3 million, an increase of $541,000 from the linked quarter due to one basis point of margin expansion [11] Business Line Data and Key Metrics Changes - Non-interest income was $12.1 million, up $1.9 million from the second quarter of 2021, driven by insurance business, swap fees, and limited partnership investments [22] - The insurance income increased by $717,000 due to the timing of commercial renewals and the impact of the acquisition of Northwoods Capital Benefits [23] - Total loans increased by $22 million or 0.6% from June 30, with commercial business loans decreasing by 6.2% and residential real estate loans down by 1.1% [28] Market Data and Key Metrics Changes - Total deposits at quarter end were $316 million higher than at June 30, driven by the seasonality of public deposits returning at quarter end [30] - The company experienced a decline in its TCE ratio from 7.58% to 7.25%, negatively impacted by growth in total assets due to seasonal inflow of public deposits [32] Company Strategy and Development Direction - The company is focusing on enhancing its digital banking platform and has implemented a customer relationship management solution to improve customer engagement [46][48] - The company is pursuing Banking-as-a-Service (BaaS) opportunities and has established a pipeline of potential Fintech partnerships [48] - The strategic plan emphasizes community banking services while embracing innovation and technology [52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the normalization of credit performance indicators and the potential for reserve releases in the coming quarters [60] - The company anticipates mid-single digit growth in its total loan portfolio, excluding the impact of PPP loans [34] - The effective tax rate for 2021 is expected to be within the range of 20% to 21% [43] Other Important Information - The company completed the relocation of its Five Star Bank branch in Almira, which is part of a downtown revitalization initiative [8] - The company is investing in technology and personnel to support strategic initiatives, including digital banking and enhanced customer experience [25] Q&A Session Summary Question: Outlook for loan growth and commercial pipelines - Management indicated strong and healthy commercial loan pipelines, with some challenges due to M&A activity and supply chain constraints [56][58] Question: Credit reserves and potential releases - Management does not expect to release specific reserves until borrowers return to normal paying status, but positive trends could lead to reserve releases in the future [60] Question: Banking-as-a-Service capabilities - The company has been modernizing its foundation and is well-positioned to integrate with Fintech partners [66][68] Question: M&A activity and criteria for potential partners - The company remains open to M&A opportunities that are geographically and economically accretive [71][72] Question: Hotel portfolio performance - The hotel portfolio is performing well, with borrowers demonstrating a return to normalcy [78][79] Question: Margin dynamics and yield expectations - Management noted that credit spreads have held up well, but bond pricing has put pressure on margins [81] Question: Expense growth expectations for 2022 - Management is currently working on the 2022 budget and expects to provide an update during the next earnings call [83]
Financial Institutions(FISI) - 2021 Q1 - Earnings Call Presentation
2021-04-30 12:27
Rising to meet the challenge. FINANCIAL INSTITUTIONS, INC. (Nasdaq: FISI) First Quarter 2021 Earnings Presentation April 28, 2021 Safe Harbor Statement Statements contained in this presentation which are not historical facts and which pertain to future operating results of Financial Institutions, Inc. (the "Company") and its subsidiaries constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe the objectives, pla ...
Financial Institutions(FISI) - 2020 Q4 - Annual Report
2021-03-14 16:00
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) Form 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-26481 FINANCIAL INSTITUTIONS, INC. (Exact name of registrant as specified in its charter) NEW YORK 16-0816610 (Stat ...
Financial Institutions(FISI) - 2020 Q3 - Earnings Call Presentation
2020-10-30 17:15
Delivering on a brighter tomorrow. FINANCIAL INSTITUTIONS, INC. (Nasdaq: FISI) Third Quarter 2020 Earnings Presentation October 29, 2020 Safe Harbor Statement Statements contained in this presentation which are not historical facts and which pertain to future operating results of Financial Institutions, Inc. (the "Company") and its subsidiaries constitute "forward- looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe the objectiv ...
Financial Institutions (FISI) Investor Presentation - Slideshow
2020-09-24 16:48
Delivering on a brighter tomorrow. FINANCIAL INSTITUTIONS, INC. (Nasdaq: FISI) Investor Presentation September 2020 Safe Harbor Statement Statements contained in this presentation which are not historical facts and which pertain to future operating results of Financial Institutions, Inc. (the "Company") and its subsidiaries constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Similarly, statements that describe the objectives, plans or goals of ...
Financial Institutions(FISI) - 2020 Q2 - Quarterly Report
2020-08-05 20:11
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 000-26481 Financial Institutions, Inc. (Exact name of registrant as specified in its charter) NE ...
Financial Institutions(FISI) - 2020 Q1 - Quarterly Report
2020-05-08 20:17
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 000-26481 (Exact name of registrant as specified in its charter) NEW YORK 16-0816610 (State or ...
Financial Institutions(FISI) - 2019 Q4 - Annual Report
2020-03-04 21:18
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 (Mark One) Form 10-K [ X ]ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-26481 FINANCIAL INSTITUTIONS, INC. (Exact name of registrant as specified in its charter) NEW YORK 16-0816610 ...