Financial Institutions(US:FISI)2025-01-31 14:48Financial Performance & Restructuring - The company reported a net loss available to common shareholders of $66.1 million in Q4 2024[14] - Net interest margin (NIM) of 2.91% expanded 2 bps from Q3 2024 and 13 bps from Q4 2023[14] - The company sold $653.5 million of AFS securities with a weighted average yield of 1.74% for a pre-tax loss of $100.2 million[10, 54] - Proceeds were reinvested into higher-yielding agency wrapped securities with a face value of $566.2 million and a weighted average yield of 5.16%, plus an additional $76.4 million of securities yielding 5.45%[10, 54] Loan Portfolio & Asset Quality - Total loans were $4.48 billion at December 31, 2024, up 1.7% from September 30, 2024[8, 14] - Commercial loans increased $104.8 million, or 3.8%, during Q4 2024[14, 22] - Consumer indirect portfolio was $845.8 million at December 31, 2024, down $103.1 million, or 10.9%, from December 31, 2023[38, 41] - Allowance for credit losses – loans to total loans was 1.07% at December 31, 2024[47] Deposits & Liquidity - Total deposits were $5.10 billion at year-end 2024, down $201.9 million, or 3.8%, from September 30, 2024[8, 14, 55] - Public deposit balances represented 21% of total deposits at December 31, 2024[60] - Uninsured nonpublic deposits made up ~18% of total deposits at the end of the most recent quarter[63]