WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently reported net income of $16.9 million in the first quarter of 2025. That’s an improvement from its net loss of $82.8 million in the fourth quarter of 2024 and net income of $2.1 million in the first quarter of 2024. […]
WARSAW, N.Y. — Financial Institutions, Inc. (NASDAQ: FISI), parent company of Five Star Bank, recently reported net income of $16.9 million in the first quarter of 2025. That’s an improvement from its net loss of $82.8 million in the fourth quarter of 2024 and net income of $2.1 million in the first quarter of 2024.
After preferred dividends, Financial Institutions’ net income available to common shareholders was $16.5 million, or 81 cents a share, in this year’s first quarter, compared to net loss of $83.2 million, or $5.07 per share, in the fourth quarter of last year, and net income of $1.7 million, or 11 cents a share, in the first quarter of last year. The banking company recorded a provision for credit losses of $2.9 million in the first quarter, compared to a provision of $6.5 million in the fourth quarter, and a benefit of $5.5 million in the prior-year quarter.
“Our first quarter [2025] results were highlighted by improved earnings and profitability metrics, and reflected the full benefit of the strategic investment securities restructuring we undertook in December, as well as our team’s ability to meet the banking, credit and investment advisory needs of our customers amid a challenging environment,” Martin K. Birmingham, president and CEO of Financial Institutions, said in the company’s April 28 earnings report. “Our focus on performance resulted in a more than 12% increase in net interest income from the linked quarter, as well as a 44-basis-point expansion of net interest margin, an efficiency ratio below 60% and solid return on average assets of 1.10% and return on average equity of 11.82%.
Financial Institutions is a financial holding company, based in Warsaw in New York’s Wyoming County, with about $6.3 billion in assets, offering banking and wealth-management products and services. Its Five Star Bank subsidiary provides consumer and commercial banking and lending services to individuals, municipalities, and businesses through banking locations spanning Western and Central New York and a commercial-loan production office serving the Mid-Atlantic region. Five Star Bank’s Central New York offices include a commercial-loan production office in Syracuse and retail branches in Auburn, Waterloo, and Geneva.
