0001193125-26-098467
SEC filingFinancial Institutions, Inc. (FISI) reported net income of $74.9 million for fiscal year 2025, with net income available to common shareholders of $73.4 million. The company generated $333.0 million in total interest income and $200.0 million in net interest income, while total interest expense was $133.0 million. Noninterest income contributed $45.0 million, primarily from investment advisory income ($11.7M), company owned life insurance ($11.4M), and card interchange income ($7.8M). Total noninterest expense was $142.0 million, with salaries and employee benefits ($72.8M) and computer and data processing ($23.1M) as the largest components. The company maintained strong liquidity with $108.8 million in cash and cash equivalents and total assets of $6.27 billion. Total deposits grew to $5.21 billion, while total shareholders' equity stood at $628.9 million. The company paid $1.5 million in preferred stock dividends and $24.7 million in common stock dividends during the year.
Financial Institutions, Inc. (FISI) reported net income of $74.9 million for fiscal year 2025, with net income available to common shareholders of $73.4 million after deducting $1.5 million in preferred stock dividends. The company generated $333.0 million in total interest income, primarily from interest and fees on loans ($284.3 million) and interest and dividends on investment securities ($46.7 million). Total interest expense was $133.0 million, resulting in net interest income of $200.0 million. After a provision for credit losses of $11.6 million, net interest income after provision for credit losses was $188.4 million. Noninterest income contributed $45.0 million, while noninterest expense totaled $142.0 million, leading to income before income taxes of $91.4 million. Income tax expense was $16.5 million.
The company's revenue streams are primarily interest-based, with $284.3 million from interest and fees on loans representing the largest component of total interest income of $333.0 million. Investment securities contributed $46.7 million in interest and dividends, while other interest income added $2.0 million. Noninterest income sources were diversified, with investment advisory income ($11.7 million), company owned life insurance ($11.4 million), and card interchange income ($7.8 million) as the largest contributors. Service charges on deposits generated $4.4 million, while income from derivative instruments netted $2.5 million. The company reported net gain on sale of loans held for sale of $737,000 and net gain on investment securities of $931,000.
The company's net interest margin can be inferred from the relationship between net interest income ($200.0 million) and interest-earning assets, though specific margin percentages are not provided in the data. Operating profitability is reflected in the income before income taxes of $91.4 million, representing approximately 27.4% of total interest income. The cost structure shows salaries and employee benefits ($72.8 million) as the largest noninterest expense component, followed by computer and data processing ($23.1 million), occupancy and equipment ($15.5 million), and other expenses ($14.5 million). Professional services cost $6.5 million, while FDIC assessments were $5.1 million.
Net cash provided by operating activities was $18.8 million, primarily from net income of $74.9 million adjusted for various non-cash items including depreciation and amortization ($7.9 million), provision for credit losses ($11.6 million), and deferred income tax expense ($11.5 million). Net cash used in investing activities was $140.0 million, driven by purchases of available for sale securities ($324.1 million) and net increase in loans ($189.6 million), partially offset by proceeds from security sales and principal payments. Net cash provided by financing activities was $142.7 million, mainly from net increase in deposits ($101.6 million) and issuance of long-term borrowings ($80.0 million). The balance sheet shows total assets of $6.27 billion, including loans (net of allowance) of $4.61 billion and securities of $1.01 billion. Total liabilities were $5.65 billion, with total deposits of $5.21 billion. Shareholders' equity was $628.9 million.
The filing does not provide specific forward-looking guidance, management projections, or explicit strategic priorities for future periods. No quantitative or qualitative outlook statements are included in the provided financial data. The document focuses on historical financial results for fiscal year 2025 without discussing future expectations, growth targets, or specific risk factors beyond the standard financial disclosures. Investors should refer to the complete 10-K filing for comprehensive risk factor disclosures and management discussion that may not be captured in the financial data extracts provided.