An announcement from Financial Institutions ( (FISI) ) is now available.
Financial Institutions, Inc. reported a third-quarter net income of $13.5 million, reflecting a decrease from the previous quarter’s $25.6 million, largely due to a previous insurance asset sale and fraud-related expenses. Key highlights include a net interest margin increase to 2.89%, strong deposit growth to $5.31 billion, and an orderly wind-down of its Banking-as-a-Service offerings. Despite a decline in total loans, the company maintained solid credit quality, with improvements in regulatory and tangible capital ratios, suggesting a strategic focus on sustainable growth and market opportunities.
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