Trade Financial Institutions Inc - FISI CFD

Financial Institutions Company profile

About Financial Institutions, Inc.

Financial Institutions, Inc. is a financial holding company. The Company operates through one segment: Banking, which includes all of its retail and commercial banking operations. The Company provides diversified financial services through its subsidiaries Five Star Bank (the Bank), SDN Insurance Agency, LLC (SDN), Courier Capital, LLC (Courier Capital) and HNP Capital, LLC (HNP Capital). The Bank provides a range of consumer and commercial banking and lending services to individuals, municipalities, and businesses through a network of approximately 45 offices throughout Western and Central New York State. Its indirect lending network includes relationships with franchised automobile dealers. SDN provides a range of insurance services to personal and business clients. Courier Capital and HNP Capital provides customized investment management, investment consulting and retirement plan services to individuals, businesses, institutions, foundations, and retirement plans.

Financial summary

BRIEF: For the fiscal year ended 31 December 2021, Financial Institutions, Inc. interest income increased 4% to $167.2M. Net interest income after loan loss provision increased 17% to $163.1M. Net income applicable to common stockholders increased from $36.9M to $76.2M. Net interest income after loan loss provision reflects Banking segment increase of 31% to $150.6M, Net Interest Spread, Total -% increase of less than 1% to 3.05%.

Equity composition

Common Stock $.01 Par, 12/11, 50M auth., 14,161,597 issd. 358,48shs. in Treas. @6.7M. Insiders own 7.27%. IPO: 6/25/99, 1,333,333 Com. shs. @ $14 by CIBC World Markets Corp. 3% Cum. Pref. Stk. $100 Par, 1,533 auth & issd. 8.48% Cum. Pref. Stk. $100 Par, 200K auth., 174,223 issd. Pref. Stk A $100 par, 7,503 Auth & issd.