financial institutions inc (FISI) Key Developments
Financial Institutions, Inc. Declares Quarterly Cash Dividend on Common Share and Preferred Stock, Payable on July 2, 2015
May 20 15
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 July 2, 2015 to shareholders of record as of June 11, 2015.
Financial Institutions Inc. Presents at D.A. Davidson 17th Annual Financial Services Conference, May-12-2015
May 7 15
Financial Institutions Inc. Presents at D.A. Davidson 17th Annual Financial Services Conference, May-12-2015 . Venue: Embassy Suites Denver - Downtown/Convention Center, 1420 Stout Street, Denver, CO 80202, United States. Speakers: Martin K. Birmingham, Chief Executive Officer, President, Director, Chief Executive Officer of Five Star Bank, President of Five Star Bank and Director of Five Star Bank.
Financial Institutions Inc. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Reports Net Charge-Offs for the First Quarter Ended March 31, 2015
Apr 22 15
Financial Institutions Inc. reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net interest income of $23,147,000 against $23,275,000 a year ago. Net interest income after provision for loan losses was $20,406,000 against $21,169,000 a year ago. Income before income taxes was $9,692,000 against $10,313,000 a year ago. Net income available to common shareholders was $6,436,000 or $0.46 per basic and diluted share against $6,853,000 or $0.50 per basic and diluted share a year ago. Return on average assets was 0.89% against 0.99% a year ago. Return on average equity was 9.68% against 11.19% a year ago. Return on average common equity was 9.75% against 11.38% a year ago. Common book value per share was $19.01 compared to $17.72 a year ago. Tangible common book value per share was $14.18 compared to $14.12 a year ago.
For the quarter, the company's net charge-offs were $3.2 million, a $1.5 million increase compared the first quarter 2014. The increase in net charge-offs was primarily driven by the first quarter 2015 charge-off of two commercial loan relationships totaling $1.7 million that had been previously reserved by the company.
Financial Institutions Inc. to Report Q1, 2015 Results on Apr 22, 2015
Apr 21 15
Financial Institutions Inc. announced that they will report Q1, 2015 results on Apr 22, 2015
FISI Eyes Acquisitions
Apr 15 15
Financial Institutions Inc. (NasdaqGS:FISI) is looking for acquisition opportunities. FISI announced it has successfully completed the sale of $40 million in aggregate principal amount of its 6.00% fixed to floating rate subordinated notes due 2030. Martin K. Birmingham, President and Chief Executive Officer of FISI, stated, "The successful completion of this financing transaction provides a measure of financial flexibility to capitalize on potential opportunities. These may include organic growth initiatives and potential acquisitions to expand our banking and complementary non-banking businesses, as well as to strengthen our financial position."