Financial Institutions, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 26, 2023 at 09:05 pm
Share
Financial Institutions, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 41.68 million compared to USD 43.07 million a year ago. Net income was USD 14.02 million compared to USD 13.85 million a year ago. Basic earnings per share from continuing operations was USD 0.89 compared to USD 0.88 a year ago. Diluted earnings per share from continuing operations was USD 0.88 compared to USD 0.88 a year ago.
For the nine months, net interest income was USD 125.83 million compared to USD 124.22 million a year ago. Net income was USD 40.48 million compared to USD 44.49 million a year ago. Basic earnings per share from continuing operations was USD 2.56 compared to USD 2.82 a year ago. Diluted earnings per share from continuing operations was USD 2.55 compared to USD 2.8 a year ago.
Financial Institutions, Inc. is a financial holding company. The Company provides a full range of banking and related financial services to consumer, commercial and municipal customers through its bank and non-bank subsidiaries. It offers a range of deposit, lending and other financial services to individuals, municipalities and businesses in the Western and Central New York branch network and its Mid-Atlantic commercial loan production office serving the Baltimore and Washington, D.C. region, through its banking subsidiary, Five Star Bank. Its indirect lending network includes relationships with franchised automobile dealers in Western and Central New York, the Capital District of New York, and Northern and Central Pennsylvania. It offers customized investment advice, wealth management, investment consulting and retirement plan services through its subsidiary, Courier Capital, LLC.