Financial Institutions, Inc. (FISI)

Financial Institutions Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	281.39	258.58	170.82	147.9	143.52	149.87
Interest Income on Investments	30.27	27.55	25.29	19.31	17.78	18.93
Total Interest Income	311.66	286.13	196.11	167.21	161.3	168.8
Interest Paid on Deposits	139.91	107.36	22.99	8.12	17.82	28.49
Interest Paid on Borrowings	9.91	13.06	5.74	4.36	4.49	10.39
Total Interest Expense	149.82	120.42	28.74	12.48	22.31	38.89
Net Interest Income	161.84	165.72	167.37	154.73	138.99	129.91
Net Interest Income Growth (YoY)	-4.22%	-0.99%	8.17%	11.33%	6.98%	5.74%
Gain (Loss) on Sale of Assets	13.6	-0.01	-0.02	0.44	-0.06	0.03
Gain (Loss) on Sale of Investments	-3.92	-3.83	-0.83	-0.36	1.32	1.15
Gain (Loss) on Sale of Equity Investments	2.22	1.78	1.29	2.08	0.1	0.35
Other Non-Interest Income	42.86	45.1	38.71	36.22	33.14	30.26
Total Non-Interest Income	59.72	48.24	46.27	46.91	43.18	40.38
Non-Interest Income Growth (YoY)	36.31%	4.26%	-1.35%	8.64%	6.92%	10.70%
Revenues Before Loan Losses	221.57	213.96	213.64	201.64	182.16	170.29
Provision for Loan Losses	4.96	13.68	13.31	-8.34	27.18	8.04
Revenue	216.61	200.28	200.33	209.97	154.98	162.25
Revenue Growth (YoY)	9.25%	-0.03%	-4.59%	35.49%	-4.48%	7.87%
Salaries and Employee Benefits	65.62	70.54	67.4	59.43	57.99	55.16
Occupancy Expenses	10.92	11.42	11.81	11.14	10.62	10.41
Federal Deposit Insurance	5.05	4.9	2.44	2.62	2.24	1.01
Amortization of Goodwill & Intangibles	0.66	0.91	0.99	1.06	1.13	1.25
Selling, General & Administrative	37.13	33.9	32.71	28.81	26.7	25.34
Other Non-Interest Expense	34.61	15.12	12.08	9.29	8.61	9.44
Total Non-Interest Expense	154.36	137.11	127.74	112.64	107.52	102.83
EBT Excluding Unusual Items	62.24	63.17	72.59	97.33	47.46	59.42
Pretax Income	62.06	63.05	70.97	97.22	45.72	59.42
Income Tax Expense	11.11	12.79	14.4	19.53	7.39	10.56
Net Income	50.95	50.26	56.57	77.7	38.33	48.86
Preferred Dividends & Other Adjustments	1.46	1.46	1.46	1.46	1.46	1.46
Net Income to Common	49.49	48.81	55.11	76.24	36.87	47.4
Net Income Growth	-3.09%	-11.15%	-27.19%	102.69%	-21.55%	23.62%
Basic Shares Outstanding	15	15	15	16	16	16
Diluted Shares Outstanding	16	15	15	16	16	16
Shares Change (YoY)	0.90%	0.03%	-2.92%	-0.78%	0.20%	0.47%
EPS (Basic)	3.21	3.17	3.58	4.81	2.30	2.97
EPS (Diluted)	3.17	3.15	3.56	4.78	2.30	2.96
EPS Growth	-4.17%	-11.52%	-25.52%	107.83%	-22.30%	23.85%
Dividend Per Share	1.200	1.200	1.160	1.080	1.040	1.000
Dividend Growth	0.84%	3.45%	7.41%	3.85%	4.00%	4.17%
Effective Tax Rate	17.90%	20.28%	20.29%	20.08%	16.16%	17.77%

Source: S&P Capital IQ. Banks template. Financial Sources.