{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-007391","form_type":"8-K","ticker":"FISI","cik":"0000862831","company_name":"FINANCIAL INSTITUTIONS INC","filed_at":"2024-01-25T23:59:59+00:00","discovered_at":"2026-05-14T18:03:27.077734+00:00","generated_at":"2026-06-06T18:51:59.947149+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Q4 EPS $0.61 vs $0.88 in Q3; NPLs surge to $26.7M on one commercial loan","bullets":["Q4 net income available to common $9.4M ($0.61 diluted EPS), down from $13.7M ($0.88) in Q3 and $11.7M ($0.76) in Q4 2022.","Provision for credit losses jumped to $5.3M in Q4 from $966K in Q3, driven by a single commercial loan relationship placed on nonaccrual.","Noninterest income rose 46.6% linked quarter to $15.4M, largely from $9.1M COLI revenue including ~$8M from surrender and redeploy strategy.","Securities repositioning: sold ~$54M in agency MBS at after-tax loss of $2.8M, reinvested into higher-yielding bonds; earn-back expected in two years.","Leadership realignment announced Dec 2023 impacting 3.4% of workforce, targeting ~$6M annual expense savings in salaries/benefits."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-007391","json":"https://secwatch.observer/filing/0000950170-24-007391.json","markdown":"https://secwatch.observer/filing/0000950170-24-007391.md","text":"https://secwatch.observer/filing/0000950170-24-007391.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/862831/000095017024007391/0000950170-24-007391-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/862831/000095017024007391/fisi-20240125.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-06T18:51:59.947149+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"7735789b60bf579881b5f2bf15881574862c5c55","claim":"FINANCIAL INSTITUTIONS INC reported fourth quarter ended December 31, 2023 results: net income $9.8 million, EPS $0.61 per diluted share.","evidence_excerpt":"Net income was $9.8 million in the fourth quarter of 2023, compared to $14.0 million in the third quarter of 2023 and $12.1 million in the fourth quarter of 2022. After preferred dividends, net income available to common shareholders was $9.4 million, or $0.61 per diluted share, in the fourth quarter of 2023","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/862831/000095017024007391/0000950170-24-007391-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"fourth quarter ended December 31, 2023"},{"label":"Net income","value":"$9.8 million"},{"label":"EPS","value":"$0.61 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"e6a4de3009e371b56aa3626c9e9dac00354c42ad","claim":"FINANCIAL INSTITUTIONS INC reported year ended December 31, 2023 results: net income $50.3 million, EPS $3.15 per diluted share.","evidence_excerpt":"The Company reported full year 2023 net income of $50.3 million, compared to $56.6 million in 2022. After preferred dividends, net income available to common shareholders was $48.8 million, or $3.15 per diluted share, for 2023","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/862831/000095017024007391/0000950170-24-007391-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"year ended December 31, 2023"},{"label":"Net income","value":"$50.3 million"},{"label":"EPS","value":"$3.15 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}