Core Insights - Financial Institutions, Inc. reported a net income of 16.9millionforQ12025,asignificantrecoveryfromanetlossof82.8 million in Q4 2024 and an increase from 2.1millioninQ12024[2][4][6]−Thecompanyexperienceda12.646.9 million, and a net interest margin expansion of 44 basis points to 3.35% [4][6][11] - Total loans increased by 1.7% quarter-over-quarter to 4.55billion,drivenbycommercialbusinessandmortgagelending[5][17][19]−Totaldepositsroseby5.35.37 billion, influenced by seasonal public deposit inflows [20][22] - The company declared a quarterly cash dividend of 0.31percommonshare,reflectinga3.316.5 million, or 0.81perdilutedshare,comparedtoanetlossof83.2 million, or (5.07)perdilutedshare,inthepreviousquarter[2][4]−NoninterestincomeforQ12025was10.4 million, a recovery from a noninterest loss of 91.0millioninQ42024[6][12]−Noninterestexpensedecreasedto33.7 million from 59.4millioninthepreviousquarter[14]LoanandDepositMetrics−Totalloansincreasedby74.1 million, or 1.7%, during the quarter, with commercial business loans up 6.6% from the previous quarter [19][20] - Total deposits reached 5.37billion,up268.2 million from the previous quarter, with public deposit balances representing 23% of total deposits [20][22] Credit Quality - The company reported improved credit quality metrics, with net charge-offs at 0.21% of average loans, down from 0.25% in the previous quarter [29][31] - Non-performing loans were 40.0million,or0.886.34 billion, up 223.4millionfromthepreviousquarter[17][22]−Shareholders′equityroseto589.9 million, driven by additional paid-in-capital from a common stock capital raise [22][23] - The company maintained strong capital ratios, with a Common Equity Tier 1 Capital Ratio of 10.38% [28][43]
Financial Institutions(FISI) GlobeNewswire·2025-04-28 20:05