Financial Institutions Inc. reported unaudited earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company reported net interest income of $26,722,000 compared to $24,631,000 a year ago. Income before income taxes was $11,738,000 compared to $8,785,000 a year ago. Net income available to common shareholders was $8,328,000 or $0.57 per basic and diluted share compared to $6,270,000 or $0.44 per diluted share a year ago. Return on average assets was 0.94% compared to 0.78% a year ago. Return on average equity was 10.68% compared to 8.86% a year ago.

For the year, the company reported net interest income of $102,690,000 compared to $95,313,000 a year ago. Income before income taxes was $44,141,000 compared to $38,876,000 a year ago. Net income available to common shareholders was $30,469,000 or $2.10 per diluted share compared to $26,875,000 or $1.90 per basic and diluted share a year ago. Return on average assets was 0.90% compared to 0.87% a year ago. Return on average equity was 10.01% compared to 9.78% a year ago. Common book value per share was $20.82 at December 31, 2016 compared with $19.49 a year ago. Tangible common book value per share was $15.62 at December 31, 2016 compared with $14.77 a year ago.

The company reported total net charge-offs were $1,773,000 compared to $1,968,000 for the same quarter a year ago.