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Last $23.01 USD
Change Today -0.17 / -0.73%
Volume 69.2K
FISI On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 04/17/15 All times are local (Market data is delayed by at least 15 minutes).

financial institutions inc (FISI) Key Developments

Financial Institutions Plans Offering; Mulls Acquisition

Financial Institutions Inc. (NasdaqGS:FISI) has commended public underwritten offering of $35 million in aggregate principal amount of subordinated notes due 2030 and plans to use the proceeds for general corporate purposes, including but not limited to, contributing capital to Five Star Bank, organic growth initiatives, potential acquisitions to expand banking and other complimentary non banking businesses and payment of dividends.

Financial Institutions, Inc. Announces Quarterly Cash Dividend on Common and Series A 3% Preferred Stock, Payable on April 2, 2015

Financial Institutions Inc. announced that its Board of Directors has approved a quarterly cash dividend of $0.20 per outstanding common share. The Company also announced dividends of $0.75 per share on Series A 3% preferred stock and $2.12 per share on series B-1 8.48% preferred stock. All dividends are payable April 2, 2015 to shareholders of record as of March 12, 2015.

Financial Institutions Inc. Reports Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Reports Net Charge-Offs for the Fourth Quarter of 2014

Financial Institutions Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net interest income of $24,138,000 compared to $23,380,000 a year ago. The increase was primarily related to an increase in average interest-earning assets of $128.7 million, driven by organic loan growth during 2014. Income before income taxes was $8,004,000 compared to $9,322,000 a year ago. Net income available to common shareholders was $7,555,000 or $0.54 per basic and diluted share compared to $6,001,000 or $0.43 per diluted share a year ago. Return on average assets was 1.03% compared to 0.88% a year ago. Return on average equity was 11.07% compared to 10.03% a year ago. For the year, the company reported net interest income of $93,774,000 compared to $91,594,000 a year ago. Income before income taxes was $38,980,000 compared to $37,907,000 a year ago. Net income available to common shareholders was $27,893,000 or $2.00 per diluted share compared to $24,064,000 or $1.75 per basic and diluted share a year ago. Return on average assets was 0.98% compared to 0.91% a year ago. Return on average equity was 10.80% compared to 10.10% a year ago. Common book value per share was $18.57 at December 31, 2014, an increase of $0.09 from $18.48 at September 30, 2014 and $1.40 from $17.17 at December 31, 2013. Tangible common book value per share was $13.71 at December 31, 2014, compared to $13.59 at September 30, 2014 and $13.56 at December 31, 2013. The company reported total net charge-offs of $1,517,000 in the fourth quarter of 2014 compared to $2,356,000 for the same quarter a year ago.

Financial Institutions Mulls Acquisitions

Financial Institutions Inc. (NasdaqGS:FISI) will look at acquisition opportunities. Financial Institutions' President and Chief Executive Officer Martin K. Birmingham stated: "We have grown and will seek continued growth in both our legacy markets and in the larger markets that we are now more actively targeting, namely Rochester and Buffalo. Growth will be achieved through the offering of traditional banking services, as well as from newer products such as insurance, which collectively provide us with a very comprehensive suite of services to meet the evolving needs of our customer base. As we look toward 2015 and beyond, we will continue to follow our proven business model of organic growth and strategic acquisitions."

Financial Institutions Inc. Presents at Sterne Agee Financial Institutions Investor Conference 2015, Feb-11-2015

Financial Institutions Inc. Presents at Sterne Agee Financial Institutions Investor Conference 2015, Feb-11-2015 . Venue: Boca Raton Resort & Club, 501 East Camino Real, Boca Raton, FL 33432, United States.

 

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FISI:US $23.01 USD -0.17

FISI Competitors

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Company Last Change
First Community Bancshares Inc/VA $17.09 USD -0.48
Independent Bank Corp/MI $13.00 USD +0.03
Metro Bancorp Inc $25.82 USD -0.68
Peoples Bancorp Inc/OH $23.01 USD -0.65
Univest Corp of Pennsylvania $19.59 USD -0.21
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Industry Analysis

FISI

Industry Average

Valuation FISI Industry Range
Price/Earnings 11.5x
Price/Sales 2.9x
Price/Book 1.2x
Price/Cash Flow 11.1x
TEV/Sales NM Not Meaningful
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