← FINANCIAL INSTITUTIONS INC
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net loss on other assets | — | — | ($50k) | ($29k) | $61k | ($441k) | $16k | $6k | $44k | $506k | |
| Net Income (Loss) Attributable to Parent | $31.9m |
$33.5m
+5.00%
|
$39.5m
+17.90%
|
$48.9m
+23.62%
|
$38.3m
-21.55%
|
$77.7m
+102.69%
|
$56.6m
-27.19%
|
$50.3m
-11.15%
|
($41.6m)
-182.85%
|
$74.9m
+279.77%
|
|
| Net Income (Loss) Available to Common Stockholders, Basic | $30.5m |
$32.1m
+5.23%
|
$38.1m
+18.72%
|
$47.4m
+24.53%
|
$36.9m
-22.21%
|
$76.2m
+106.77%
|
$55.1m
-27.71%
|
$48.8m
-11.45%
|
($43.1m)
-188.32%
|
$73.4m
+270.30%
|
|
| Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | — | — | — | $48.9m | $38.3m | $77.7m | $56.6m | $50.3m | ($41.6m) | $74.9m | |
| Depreciation and amortization | $6.0m | $6.2m | $6.5m | $8.2m | $7.9m | $8.0m | $8.1m | $8.1m | $7.7m | $7.9m | |
| Amortization of Intangible Assets | — | $1.2m | $1.3m | $1.2m | $1.1m | $1.1m | $986k | $910k | $552k | $415k | |
| Net amortization of (discounts) premiums on investment securities | $3.2m | $3.3m | $2.5m | $2.1m | $3.5m | $5.5m | $5.0m | $3.5m | $1.9m | ($6.4m) | |
| Deferred Income Tax Expense (Benefit) | ($1.7m) | $12.4m | ($10.5m) | $369k | ($4.5m) | $5.2m | ($4.4m) | ($1.3m) | ($35.3m) | $11.5m | |
| Share-based Payment Arrangement, Noncash Expense | $845k | $1.2m | $1.3m | $1.4m | $1.3m | $1.7m | $2.6m | $1.7m | $1.6m | $3.1m | |
| Share-based compensation | $845k | $1.2m | $1.3m | $1.4m | $1.3m | $1.7m | $2.6m | $1.7m | $1.6m | $3.1m | |
| Goodwill, Impairment Loss | — | $1.6m | $2.4m | $0 | — | $0 | $0 | $0 | $0 | $0 | |
| Restructuring Costs and Asset Impairment Charges | — | — | — | — | — | — | — | $114k | — | — | |
| Changes in operating assets and liabilities: | |||||||||||
| Increase (Decrease) in Other Operating Assets | ($2.0m) | $24.5m | ($13.4m) | $21.3m | $37.6m | $9.3m | $29.9m | $56.1m | ($20.5m) | ($13.0m) | |
| Increase (Decrease) in Other Operating Liabilities | $257k | $4.0m | $3.1m | $15.0m | $10.6m | ($2.6m) | $80.6m | $372k | $13.2m | ($83.9m) | |
| Gain (Loss) on Disposition of Other Assets | $313k | $37k | $50k | $29k | ($61k) | $441k | ($16k) | ($6k) | $13.6m | ($506k) | |
| Decrease (increase) in other assets | $2.0m | ($24.5m) | $13.4m | ($21.3m) | ($37.6m) | ($9.3m) | ($29.9m) | ($56.1m) | $20.5m | $13.0m | |
| (Decrease) increase in other liabilities | $257k | $4.0m | $3.1m | $15.0m | $10.6m | ($2.6m) | $80.6m | $372k | $13.2m | ($83.9m) | |
| Proceeds from sale of other assets | — | — | — | — | — | — | — | $0 | $0 | $97k | |
| Net Cash Provided by (Used in) Operating Activities | $46.7m |
$46.3m
-0.89%
|
$65.1m
+40.75%
|
$57.7m
-11.40%
|
$43.5m
-24.70%
|
$73.0m
+67.90%
|
$133.6m
+83.07%
|
$10.9m
-91.84%
|
$77.1m
+607.98%
|
$18.8m
-75.62%
|
|
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $7.6m | $7.7m | $2.8m | $3.6m | $4.3m | $9.4m | $8.4m | $3.0m | $5.0m | $5.5m | |
| Proceeds from Maturities, Prepayments and Calls of Debt Securities, Available-for-sale | $95.3m | $50.1m | $29.9m | $82.4m | $97.7m | $150.9m | $122.6m | $83.4m | $260.1m | $184.7m | |
| Payments to Acquire Businesses, Net of Cash Acquired | $868k | $676k | $4.4m | — | — | $1.4m | $0 | $0 | — | — | |
| Payments for (Proceeds from) Other Investing Activities | ($854k) | ($234k) | ($590k) | ($360k) | ($519k) | $3.5m | $0 | $0 | — | — | |
| Net Cash Provided by (Used in) Investing Activities | ($326.7m) | ($372.6m) | ($225.4m) | ($24.7m) | ($531.1m) | ($633.4m) | ($325.2m) | ($310.1m) | ($8.2m) | ($140.0m) | |
| Cash flows from financing activities: | |||||||||||
| Repayments of Long-term Debt | — | — | — | — | — | — | — | — | — | $10.0m | |
| Debt and Equity Securities, Gain (Loss) | — | — | ($127k) | $1.7m | $1.6m | $71k | ($15k) | ($3.6m) | ($100.1m) | $931k | |
| Proceeds from Issuance of Long-term Debt | — | — | — | — | $35.0m | — | $0 | $50.0m | $0 | $80.0m | |
| More than three months - borrowings | — | — | — | — | — | — | — | $78.0m | $0 | $0 | |
| Issuance of long-term borrowings | — | — | — | — | $35.0m | $0 | $0 | $50.0m | $0 | $80.0m | |
| Payment of long-term borrowings | — | — | — | — | — | — | — | $0 | $0 | ($10.0m) | |
| Long-term borrowing issuance costs | — | ($1.1m) | — | — | ($779k) | ($1.1m) | $0 | $0 | $0 | ($1.4m) | |
| Payments for Repurchase of Common Stock | — | $148k | $113k | $293k | $209k | $9.2m | $15.3m | $571k | $426k | $11.4m | |
| Payments of Ordinary Dividends, Common Stock | $11 | $12 | $15 | $16 | $16 | $17 | $18 | $18 | $19 | $25 | |
| Proceeds from Issuance of Common Stock | — | $38.3m | — | — | — | — | $0 | $0 | $108.6m | $0 | |
| Purchases of common stock for treasury | — | ($148k) | ($113k) | ($293k) | ($209k) | ($9.2m) | ($15.3m) | ($571k) | ($426k) | ($11.4m) | |
| Dividends Payable | — | — | $4 | $4 | $5 | $5 | $5 | $5 | $6 | $7 | |
| Cash dividends paid to preferred shareholders | ($1) | ($1) | ($1) | ($1) | ($1) | ($1) | ($1) | ($1) | ($1) | ($1) | |
| Cash dividends paid to common shareholders | ($11) | ($12) | ($15) | ($16) | ($16) | ($17) | ($18) | ($18) | ($19) | ($25) | |
| Net Cash Provided by (Used in) Financing Activities | $291.1m |
$354.3m
+21.68%
|
$163.8m
-53.75%
|
($22.8m)
-113.91%
|
$468.5m
+2156.38%
|
$545.7m
+16.47%
|
$242.9m
-55.48%
|
$293.2m
+20.68%
|
($106.0m)
-136.16%
|
$142.7m
+234.57%
|
|
| Net increase (decrease) in cash and cash equivalents | $11.2m | $27.9m | $3.6m | $10.2m | ($19.1m) | ($14.8m) | $51.4m | ($6.0m) | ($37.1m) | $21.4m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | — | $10.2m | ($19.1m) | ($14.8m) | $51.4m | ($6.0m) | ($37.1m) | $21.4m | |
| Cash and cash equivalents, beginning of period | $60.1m | $71.3m | $99.2m | $112.9m | $93.9m | $79.1m | $130.5m | $124.4m | $87.3m | $108.8m | |
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Additional Supplementary Disclosures | |||||||||||
| Provision for Loan, Lease, and Other Losses | $9.6m | $13.4m | $8.9m | $8.0m | $27.2m | — | — | — | $6.2m | $11.6m | |
| Bank Owned Life Insurance Income | $2.8m | $1.8m | $1.8m | $1.8m | $1.9m | $2.9m | $5.5m | $12.1m | $5.5m | $11.4m | |
| Gain (Loss) on Sales of Loans, Net | $240k | $376k | $796k | $1.4m | $3.9m | $3.0m | $1.2m | $566k | $618k | $737k | |
| Proceeds from Stock Options Exercised | $964k | $413k | $320k | — | — | — | — | — | — | — | |
| Parent Company | $11.5m | $12.5m | $14.9m | $15.8m | $16.5m | $17.0m | $17.6m | $18.3m | $18.5m | $24.7m | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $11.8m | $14.8m | $28.6m | $37.2m | $28.9m | $14.7m | $32.6m | $133.8m | $156.1m | $128.6m | |
| Income Taxes Paid, Net | $10.6m | $13.2m | $3.5m | $9.9m | $7.5m | $10.8m | $3.4m | $6.3m | $3.5m | ($17k) | |
| Additional Financial Items | |||||||||||
| Derivative, Gain (Loss) on Derivative, Net | — | — | $972k | $2.3m | $5.5m | $2.7m | $1.9m | $1.4m | $726k | $2.5m | |
| Gain (Loss) on Disposition of Business | — | — | — | — | — | — | — | — | $13.7m | $0 | |
| Goodwill | $66.4m | $65.8m | $66.1m | $66.1m | $66.1m | $67.1m | $67.1m | $67.1m | $58.1m | $58.1m | |
| Income Tax Expense (Benefit) | $12.2m | $9.9m | $10.0m | $10.6m | $7.4m | $19.5m | $14.4m | $12.8m | ($26.5m) | $16.5m | |
| Insurance Services Revenue | $5.4m | $5.3m | $4.9m | $4.6m | $4.4m | $5.8m | $6.4m | $6.7m | $2.1m | $11k | |
| Restructuring Costs | — | — | — | — | $1.7m | $122k | $1.6m | $114k | $35k | — | |
| Provision for credit losses | — | — | $8.9m | $8.0m | $27.2m | ($8.3m) | $13.3m | $13.7m | $6.2m | $11.6m | |
| Provision for litigation settlement | — | — | — | — | — | — | $0 | $0 | $23.0m | $0 | |
| Proceeds from sale of loans held for sale | $11.7m | $14.6m | $30.5m | $41.5m | $97.2m | $81.3m | $31.6m | $19.3m | $34.5m | $46.1m | |
| Originations of loans held for sale | ($11.0m) | ($15.8m) | ($29.9m) | ($41.6m) | ($93.5m) | ($80.3m) | ($24.7m) | ($19.6m) | ($34.8m) | ($46.4m) | |
| Income on company owned life insurance | ($2.8m) | ($1.8m) | ($1.8m) | ($1.8m) | ($1.9m) | ($2.9m) | ($5.5m) | ($12.1m) | ($5.5m) | ($11.4m) | |
| Net gain on sale of loans held for sale | ($240k) | ($376k) | ($796k) | ($1.4m) | ($3.9m) | ($3.0m) | ($1.2m) | ($566k) | ($618k) | ($737k) | |
| Net (gain) loss on sale of investment securities | ($2.7m) | ($1.3m) | $127k | ($1.7m) | ($1.6m) | ($71k) | $15k | $3.6m | $100.1m | ($931k) | |
| Net gain on sale of assets of subsidiary | — | — | — | — | — | — | $0 | $0 | ($13.7m) | $0 | |
| Restructuring charges | — | — | — | — | — | $392k | $1.6m | $114k | $35k | — | |
| Purchases of available for sale securities | ($213.4m) | ($86.4m) | ($44.9m) | ($195.7m) | ($396.9m) | ($784.1m) | ($75.3m) | ($51.5m) | ($902.8m) | ($324.1m) | |
| Purchases of held to maturity securities | ($126.4m) | ($71.5m) | ($28.0m) | ($23.5m) | ($7.3m) | ($18.4m) | ($38.6m) | ($3.1m) | ($3.0m) | ($3.9m) | |
| Proceeds from principal payments, maturities and calls on available for sale securities | $95.3m | $50.1m | $29.9m | $82.4m | $97.7m | $150.9m | $122.6m | $83.4m | $260.1m | $184.7m | |
| Proceeds from principal payments, maturities and calls on held to maturity securities | $66.6m | $96.4m | $96.2m | $83.5m | $93.0m | $83.7m | $54.5m | $43.6m | $35.0m | $35.2m | |
| Proceeds from sales of securities available for sale | — | $50.1m | $29.9m | $178.1m | $107.1m | $51.9m | $6.3m | $50.5m | $606.3m | $161.5m | |
| Net increase in loans | ($262.7m) | ($404.9m) | ($361.9m) | ($167.2m) | ($390.9m) | ($90.1m) | ($376.3m) | ($420.2m) | ($25.8m) | ($189.6m) | |
| Purchase of company owned life insurance, net of benefits received | — | — | — | — | — | — | — | ($53.7m) | ($30k) | ($72.3m) | |
| Proceeds from surrender of company owned life insurance | — | — | — | — | — | $0 | $25.5m | $43.9m | $0 | $74.0m | |
| Proceeds from sale of assets of subsidiary | — | — | — | — | — | — | $0 | $0 | $27.0m | $0 | |
| Net increase (decrease) in deposits | $264.7m | $215.0m | $156.7m | $188.8m | $722.7m | $548.7m | $102.3m | $283.5m | ($108.2m) | $101.6m | |
| 'More than three months - repayments | — | — | — | — | — | — | — | $0 | ($78.0m) | $0 | |
| 'Three months or less, net | — | — | — | — | — | — | — | ($98.0m) | ($8.0m) | $10.0m | |
| Repurchase of preferred stock | — | ($9k) | ($1k) | — | $0 | ($43k) | $0 | $0 | ($7k) | $0 |