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Financial Institutions, Inc., through its subsidiaries, provides banking and financial services to consumer, commercial, and municipal customers in New York. The company provides checking and savings account programs, including money market accounts, certificates of deposit, sweep investments, and individual retirement and other qualified plan accounts, as well as NOW accounts. It also offers commercial loan products including term loans and lines of credit; short and medium-term commercial loans for working capital, business expansion, and purchase of equipment; commercial business loans; commercial mortgage loans; one-to-four family residential mortgage loans; home improvement loans, closed-end home equity loans, and home equity lines of credit; and consumer loans, such as automobile, secured installment, and other secured and unsecured personal loans, as well as recreational vehicle, boat, personal loans, and deposit account collateralized loans. In addition, it offers investment advisory, wealth management, investment consulting, and retirement plan services, as well as operates a real estate investment trust that holds residential mortgages and commercial real estate loans. Financial Institutions, Inc. was founded in 1817 and is headquartered in Warsaw, New York.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $244M | - | $75M | $13M | 11.9% | 112.6% | - |
| 2024 | $115M | - | $-42M | $72M | -7.3% | -46.0% | -182.9% |
| 2023 | $212M | - | $50M | $8M | 11.1% | -0.1% | -11.2% |
| 2022 | $212M | - | $57M | $125M | 13.9% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 212.35 | 212.18 | 114.53 | 243.54 |
| Pretax Income | 70.97 | 63.05 | -68.15 | 91.35 |
| Tax Provision | 14.40 | 12.79 | -26.50 | 16.49 |
| Net Income | 56.57 | 50.26 | -41.65 | 74.87 |
| Net Income Common Stockholders | 55.11 | 48.80 | -43.10 | 73.41 |
| Interest Expense | 28.73 | 120.42 | 149.64 | 133 |
| Interest Income | 196.11 | 286.13 | 313.23 | 332.99 |
| Selling General And Administration | 74.09 | 78.72 | 72.98 | 79.69 |
| Normalized Income | 57.88 | 50.27 | -35.90 | 75.28 |
| Basic EPS | 3.58 | 3.17 | -1.66 | 0 |
| Diluted EPS | 3.56 | 3.15 | -1.66 | 0 |
| Tax Effect Of Unusual Items | -0.33 | 0 | -3.66 | -0.09 |
| Tax Rate For Calcs | 0.20 | 0.20 | 0.39 | 0.18 |
| Total Unusual Items | -1.64 | -0.01 | -9.41 | -0.51 |
| Total Unusual Items Excluding Goodwill | -1.64 | -0.01 | -9.41 | -0.51 |
| Net Income From Continuing Operation Net Minority Interest | 56.57 | 50.26 | -41.65 | 74.87 |
| Reconciled Depreciation | 8.11 | 8.09 | 7.67 | 7.88 |
| Net Interest Income | 167.37 | 165.72 | 163.59 | 199.99 |
| Net Income From Continuing And Discontinued Operation | 56.57 | 50.26 | -41.65 | 74.87 |
| Diluted Average Shares | 15.47 | 15.49 | 15.65 | 0 |
| Basic Average Shares | 15.38 | 15.40 | 15.65 | 0 |
| Diluted NI Availto Com Stockholders | 55.11 | 48.80 | -43.10 | 73.41 |
| Preferred Stock Dividends | 1.46 | 1.46 | 1.46 | 1.46 |
| Net Income Including Noncontrolling Interests | 56.57 | 50.26 | -41.65 | 74.87 |
| Net Income Continuous Operations | 56.57 | 50.26 | -41.65 | 74.87 |
| Special Income Charges | -1.62 | 0 | -23.02 | 0 |
| Other Special Charges | 0 | 0 | 23.02 | 0 |
| Restructuring And Mergern Acquisition | 1.62 | 0.11 | 0.04 | 0 |
| Gain On Sale Of Security | 1.09 | -2.48 | -100.10 | 1.49 |
| Depreciation Amortization Depletion Income Statement | 0.99 | 0.91 | 0.55 | 0.41 |
| Depreciation And Amortization In Income Statement | 0.99 | 0.91 | 0.55 | 0.41 |
| Amortization | 0.99 | 0.91 | 0.55 | 0.41 |
| Amortization Of Intangibles Income Statement | 0.99 | 0.91 | 0.55 | 0.41 |
| Selling And Marketing Expense | 2.01 | 1.93 | 1.57 | 1.81 |
| General And Administrative Expense | 72.07 | 76.79 | 71.41 | 77.88 |
| Other Gand A | 1.94 | 1.87 | 1.94 | 0 |
| Insurance And Claims | 2.44 | 4.90 | 5.28 | 5.07 |
| Salaries And Wages | 69.63 | 71.89 | 66.13 | 72.81 |
| Operating Revenue | 212.35 | 212.18 | 114.53 | 243.54 |
| Occupancy And Equipment | 15.10 | 14.80 | 14.36 | 15.49 |
| Professional Expense And Contract Services Expense | 5.59 | 5.26 | 7.70 | 6.52 |
| Other Non Interest Expense | 31.19 | 36.34 | 39.95 | 39.69 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Financial Institutions, Inc.this co. | FISI | $670M | 8.86↓ discount | 1.09 | 11.9% | - |
| Green Dot Corporation | GDOT | $681M | - | 0.76 | -11.1% | - |
| LendingTree, Inc. | TREE | $675M | 4.49 | 2.32 | 52.8% | 11.25 |
| South Plains Financial, Inc. | SPFI | $663M | 11.37 | 1.34 | 11.8% | - |
| Alerus Financial Corporation | ALRS |
| $658M |
| 37.87 |
| 1.16 |
| 3.1% |
| - |
| Tiptree Inc. | TIPT | $648M | - | 1.27 | 4.6% | -19.70 |
| Better Home & Finance Holding Company | BETR | $644M | - | 16.83 | -446.1% | - |
| Community West Bancshares | CWBC | $640M | 10.93 | 1.08 | 9.3% | - |
| Shore Bancshares, Inc. | SHBI | $640M | 10.17 | 1.08 | 10.1% | - |
| Peer Median | - | 10.93 | 1.21 | 7.0% | -4.22 | |