NASDAQ : FISI
Financial Institutions, Inc. — Financial statements
Financials · Banks - Regional · United States
Last price 40.88 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 805.60M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 285.58M | 284.28M | 282.20M | 258.58M | 170.82M | 147.90M |
| Interest Income on Investments | 48.71M | 48.71M | 31.03M | 27.55M | 25.29M | 19.31M |
| Total Interest Income | 334.29M | 332.99M | 313.23M | 286.13M | 196.11M | 167.21M |
| Interest Paid on Deposits | 113.73M | 124.30M | 140.01M | 107.36M | 22.99M | 8.12M |
| Interest Paid on Borrowings | 8.71M | 8.71M | 9.63M | 13.06M | 5.74M | 4.36M |
| Total Interest Expense | 122.44M | 133.00M | 149.64M | 120.42M | 28.73M | 12.47M |
| Net Interest Income | 211.86M | 199.99M | 163.59M | 165.72M | 167.37M | 154.73M |
| Gain (Loss) on Sale of Assets | -679.00K | -506.00K | 13.61M | -6.00K | -16.00K | 441.00K |
| Gain (Loss) on Sale of Investments | -1.15M | -1.05M | -100.83M | -3.83M | -830.00K | -360.00K |
| Gain (Loss) on Sale of Equity Investments | 267.00K | 1.40M | 2.38M | 1.78M | 1.29M | 2.08M |
| Other Non-Interest Income | 40.54M | 40.02M | 33.30M | 45.10M | 38.71M | 36.22M |
| Total Non-Interest Income | 43.99M | 44.95M | -46.68M | 48.24M | 46.27M | 46.91M |
| Revenues Before Loan Losses | 255.85M | 244.94M | 116.91M | 213.96M | 213.64M | 201.64M |
| Provision for Loan Losses | 12.63M | 11.63M | 6.15M | 13.68M | 13.31M | -8.34M |
| Revenue | 243.22M | 233.31M | 110.76M | 200.28M | 200.33M | 209.97M |
| Salaries and Employee Benefits | 74.06M | 70.13M | 64.89M | 70.54M | 67.40M | 59.43M |
| Occupancy Expenses | 12.47M | 11.89M | 10.82M | 11.31M | 11.81M | 11.14M |
| Federal Deposit Insurance | 4.03M | 5.07M | 5.28M | 4.90M | 2.44M | 2.62M |
| Amortization of Goodwill & Intangibles | 388.00K | 415.00K | 552.00K | 910.00K | 986.00K | 1.06M |
| Selling, General & Administrative | 39.48M | 39.80M | 38.68M | 34.00M | 32.71M | 28.81M |
| Other Non-Interest Expense | 13.93M | 14.27M | 35.29M | 15.23M | 12.08M | 9.29M |
| Total Non-Interest Expense | 144.74M | 141.96M | 155.88M | 137.22M | 127.74M | 112.64M |
| EBT Excluding Unusual Items | 98.48M | 91.35M | -45.13M | 63.05M | 72.59M | 97.33M |
| Legal Settlements | -23.02M | |||||
| Pretax Income | 98.48M | 91.35M | -68.15M | 63.05M | 70.97M | 97.22M |
| Income Tax Expense | 16.34M | 16.49M | -26.50M | 12.79M | 14.40M | 19.52M |
| Net Income | 82.14M | 74.87M | -41.65M | 50.26M | 56.57M | 77.70M |
| Preferred Dividends & Other Adjustments | 1.46M | 1.46M | 1.46M | 1.46M | 1.46M | 1.46M |
| Net Income to Common | 80.68M | 73.41M | -43.10M | 48.80M | 55.11M | 76.24M |
| Basic Shares Outstanding | 19.76M | 20.10M | 15.68M | 15.38M | 15.38M | 15.84M |
| Diluted Shares Outstanding | 20.03M | 20.32M | 15.68M | 15.47M | 15.47M | 15.94M |
| EPS (Basic) | 4.08 | 3.65 | -2.75 | 3.17 | 3.58 | 4.81 |
| EPS (Diluted) | 4.03 | 3.61 | -2.75 | 3.15 | 3.56 | 4.78 |
| Dividend Per Share | 1.27 | 1.24 | 1.20 | 1.20 | 1.16 | 1.08 |
| Effective Tax Rate | 16.59% | 18.05% | 20.28% | 20.29% | 20.08% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 102.88M | 108.75M | 87.32M | 124.44M | 130.47M | 79.11M |
| Investment Securities | 76.52M | 145.29M | 142.58M | 175.43M | 190.63M | 194.20M |
| Trading Asset Securities | 29.12M | 46.13M | 43.51M | 54.56M | 16.33M | |
| Mortgage-Backed Securities | 958.24M | 922.70M | 956.39M | 928.71M | 1.01B | 1.26B |
| Total Investments | 1.03B | 1.10B | 1.15B | 1.15B | 1.25B | 1.47B |
| Gross Loans | 4.86B | 4.66B | 4.48B | 4.47B | 4.05B | 3.68B |
| Allowance for Loan Losses | -48.01M | -47.39M | -48.04M | -51.08M | -45.41M | -39.68M |
| Other Adjustments to Gross Loans | -4.48M | -3.39M | -4.02M | -3.97M | -3.77M | |
| Net Loans | 4.81B | 4.61B | 4.43B | 4.41B | 4.01B | 3.64B |
| Property, Plant & Equipment | 68.96M | 70.23M | 71.43M | 73.11M | 62.18M | |
| Goodwill | 58.12M | 58.12M | 67.07M | 67.07M | 67.07M | |
| Other Intangible Assets | 60.05M | 2.22M | 2.64M | 5.43M | 6.34M | 7.33M |
| Loans Held for Sale | 1.91M | 3.37M | 2.28M | 1.37M | 550.00K | 6.20M |
| Accrued Interest Receivable | 25.10M | 23.75M | 24.48M | 19.37M | 15.50M | |
| Other Current Assets | 7.20M | |||||
| Long-Term Deferred Tax Assets | 42.60M | 60.88M | 48.73M | 53.43M | 6.23M | |
| Other Long-Term Assets | 499.50M | 235.80M | 217.33M | 241.82M | 169.05M | 158.46M |
| Total Assets | 6.51B | 6.27B | 6.12B | 6.16B | 5.80B | 5.52B |
| Interest Bearing Deposits | 4.50B | 3.85B | 3.83B | 3.90B | 3.53B | 3.54B |
| Institutional Deposits | 394.20M | 328.40M | 302.60M | 258.70M | 182.30M | |
| Non-Interest Bearing Deposits | 974.63M | 962.72M | 950.35M | 1.01B | 1.14B | 1.11B |
| Total Deposits | 5.47B | 5.21B | 5.10B | 5.21B | 4.93B | 4.83B |
| Short-Term Borrowings | 167.00M | 135.83M | 140.41M | 222.52M | 252.75M | 44.54M |
| Current Portion of Leases | 6.05M | |||||
| Accrued Interest Payable | 21.44M | 25.86M | 19.41M | 5.98M | ||
| Other Current Liabilities | 21.27M | 45.96M | 40.35M | 54.30M | ||
| Long-Term Debt | 78.77M | 143.65M | 74.84M | 74.53M | 74.22M | 73.91M |
| Federal Home Loan Bank Debt, Long-Term | 50.00M | 50.00M | 50.00M | |||
| Long-Term Leases | 25.53M | 32.76M | 33.79M | 33.23M | 23.87M | |
| Pension & Post-Retirement Benefits | 33.00K | |||||
| Other Long-Term Liabilities | 167.22M | 35.17M | 73.54M | 52.57M | 41.76M | 46.20M |
| Total Liabilities | 5.89B | 5.65B | 5.55B | 5.71B | 5.39B | 5.02B |
| Preferred Stock, Non-Redeemable | 17.29M | 17.29M | 17.29M | 17.29M | 17.29M | 17.29M |
| Total Preferred Equity | 17.29M | 17.29M | 17.29M | 17.29M | 17.29M | 17.29M |
| Common Stock | 676.12M | 207.00K | 207.00K | 161.00K | 161.00K | 161.00K |
| Additional Paid-In Capital | 234.40M | 233.42M | 125.84M | 126.64M | 126.11M | |
| Retained Earnings | 437.14M | 388.67M | 451.69M | 421.34M | 384.01M | |
| Treasury Stock | -27.14M | -17.99M | -20.24M | -22.34M | -9.22M | |
| Comprehensive Income & Other | -74.41M | -33.03M | -52.60M | -119.94M | -137.49M | -13.21M |
| Total Common Equity | 601.71M | 611.57M | 551.70M | 437.50M | 388.31M | 487.85M |
| Shareholders' Equity | 618.99M | 628.85M | 568.98M | 454.80M | 405.61M | 505.14M |
| Total Liabilities & Equity | 6.51B | 6.27B | 6.12B | 6.16B | 5.80B | 5.52B |
| Total Debt | 245.77M | 361.06M | 298.01M | 380.84M | 360.20M | 142.32M |
| Net Cash (Debt) | -142.88M | -223.19M | -164.56M | -212.89M | -175.18M | -46.88M |
| Net Cash Per Share | -7.13 | -10.98 | -10.49 | -13.76 | -11.32 | -2.94 |
| Filing Date Shares Outstanding | 19.52M | 19.63M | 20.08M | 15.41M | 15.38M | 15.53M |
| Total Common Shares Outstanding | 19.52M | 19.80M | 20.08M | 15.41M | 15.34M | 15.75M |
| Book Value Per Share | 30.82 | 30.89 | 27.48 | 28.40 | 25.31 | 30.98 |
| Tangible Book Value | 541.65M | 551.23M | 490.94M | 365.00M | 314.90M | 413.45M |
| Tangible Book Value Per Share | 27.75 | 27.84 | 24.45 | 23.69 | 20.53 | 26.26 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 74.87M | -41.65M | 50.26M | 56.57M | 77.70M | |
| Depreciation & Amortization | 7.88M | 7.67M | 8.09M | 8.11M | 8.05M | |
| Gain (Loss) on Sale of Assets | 506.00K | -13.61M | 6.00K | 16.00K | -441.00K | |
| Gain (Loss) on Sale of Investments | -7.36M | 101.95M | 7.04M | 4.99M | 5.42M | |
| Provision for Credit Losses | 11.63M | 6.15M | 13.68M | 13.31M | -8.34M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -348.00K | -292.00K | -254.00K | 6.88M | 1.05M | |
| Change in Other Net Operating Assets | -70.87M | 33.72M | -55.59M | 50.68M | -11.94M | |
| Other Operating Activities | 166.00K | -17.81M | -13.45M | -9.92M | 2.27M | |
| Operating Cash Flow | 18.80M | 77.13M | 10.89M | 133.57M | 72.96M | |
| Capital Expenditures | -5.55M | -4.97M | -2.99M | -8.37M | -9.40M | |
| Sale of Property, Plant and Equipment | 97.00K | |||||
| Cash Acquisitions | -1.42M | |||||
| Investment in Securities | 53.28M | -4.48M | 122.91M | 69.50M | -516.00M | |
| Divestitures | 27.00M | |||||
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -189.55M | -25.75M | -420.23M | -376.25M | -90.06M | |
| Other Investing Activities | 1.69M | -30.00K | -9.78M | -10.04M | -16.55M | |
| Investing Cash Flow | -140.04M | -8.23M | -310.09M | -325.16M | -633.42M | |
| Short-Term Debt Issued | 10.00M | 78.00M | 175.00M | 24.70M | ||
| Long-Term Debt Issued | 80.00M | 50.00M | ||||
| Total Debt Issued | 90.00M | 128.00M | 175.00M | 24.70M | ||
| Short-Term Debt Repaid | -86.00M | -98.00M | ||||
| Long-Term Debt Repaid | -10.00M | |||||
| Total Debt Repaid | -10.00M | -86.00M | -98.00M | |||
| Net Debt Issued (Repaid) | 80.00M | -86.00M | 30.00M | 175.00M | 24.70M | |
| Issuance of Common Stock | 108.57M | |||||
| Repurchase of Common Stock | -11.42M | -426.00K | -571.00K | -15.34M | -9.23M | |
| Preferred Share Repurchases | -7.00K | -43.00K | ||||
| Common Dividends Paid | -24.72M | -18.52M | -18.29M | -17.59M | -16.99M | |
| Preferred Dividends Paid | -1.46M | -1.46M | -1.46M | -1.46M | -1.46M | |
| Total Dividends Paid | -26.17M | -19.97M | -19.75M | -19.05M | -18.45M | |
| Net Increase (Decrease) in Deposit Accounts | 101.62M | -108.18M | 283.49M | 102.33M | 548.72M | |
| Other Financing Activities | -1.36M | |||||
| Financing Cash Flow | 142.67M | -106.02M | 293.17M | 242.94M | 545.69M | |
| Net Cash Flow | 21.43M | -37.12M | -6.02M | 51.35M | -14.77M | |
| Free Cash Flow | 13.25M | 72.15M | 7.90M | 125.20M | 63.56M | |
| Free Cash Flow Margin | 5.68% | 65.14% | 3.95% | 62.50% | 30.27% | |
| Free Cash Flow Per Share | 0.65 | 4.60 | 0.51 | 8.09 | 3.99 | |
| Cash Interest Paid | 128.58M | 156.09M | 133.85M | 32.57M | 14.71M | |
| Cash Income Tax Paid | -17.00K | 3.49M | 6.30M | 3.40M | 10.83M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 768.54M | 627.47M | 531.46M | 328.08M | 373.56M | 503.64M |
| Last Close Price | 39.37 | 30.34 | 25.40 | 18.74 | 20.10 | 25.12 |
| PE Ratio | 9.77 | 8.55 | 6.72 | 6.78 | 6.61 | |
| PS Ratio | 3.16 | 2.69 | 4.80 | 1.64 | 1.86 | 2.40 |
| PB Ratio | 1.28 | 1.00 | 0.93 | 0.72 | 0.92 | 1.00 |
| P/FCF Ratio | 13.67 | 47.34 | 7.37 | 41.52 | 2.98 | 7.92 |
| P/OCF Ratio | 12.63 | 33.37 | 6.89 | 30.12 | 2.80 | 6.90 |
| Debt / Equity Ratio | 0.40 | 0.57 | 0.52 | 0.84 | 0.89 | 0.28 |
| Debt / FCF Ratio | 27.24 | 4.13 | 48.20 | 2.88 | 2.24 | |
| Net Debt / Equity Ratio | 0.23 | 0.35 | 0.29 | 0.47 | 0.43 | 0.09 |
| Net Debt / FCF Ratio | 16.84 | 2.28 | 26.94 | 1.40 | 0.74 | |
| Return on Equity (ROE) | 13.24% | 12.50% | -8.14% | 11.68% | 12.42% | 15.96% |
| Return on Assets (ROA) | 1.28% | 1.21% | -0.68% | 0.84% | 1.00% | 1.49% |
| Earnings Yield | 10.23% | 11.93% | -7.84% | 15.32% | 15.14% | 15.43% |
| FCF Yield | 7.32% | 2.11% | 13.58% | 2.41% | 33.52% | 12.62% |
| Dividend Yield | 3.25% | 3.91% | 4.53% | 5.64% | 4.76% | 3.38% |
| Payout Ratio | 31.77% | 34.96% | 39.28% | 33.68% | 23.75% | |
| Buyback Yield / Dilution | -4.43% | -29.55% | -1.34% | -0.03% | 2.92% | 0.78% |
| Total Shareholder Return | -1.18% | -25.64% | 3.19% | 5.61% | 7.69% | 4.16% |