---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-048290"
form_type: "8-K"
ticker: "FISI"
cik: "0000862831"
company_name: "FINANCIAL INSTITUTIONS INC"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:56:09.274237+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Financial Institutions Q1 net income $2.1M, EPS $0.11, hit by $18.4M fraud loss; insurance sale closed April 1

## Summary
- Net income $2.1M ($0.11 diluted EPS) vs $12.1M ($0.76) in Q1 2023; includes $18.4M pre-tax fraud loss.
- Deposit-related charged-off items $19.2M; company expects to recoup additional funds through legal recourse.
- Total deposits $5.40B, up 3.5% from Dec 2023; loans $4.44B, down 0.5% linked quarter.
- Sold SDN Insurance Agency assets to NFP on April 1 for ~$27M, after-tax gain ~$11.2M.
- Net interest margin stable at 2.78%; benefit for credit losses of $5.5M reflecting improved credit quality.

## SEC filing metadata
- accession: 0000950170-24-048290
- form_type: 8-K
- ticker: FISI
- cik: 0000862831
- company_name: FINANCIAL INSTITUTIONS INC
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862831/000095017024048290/0000950170-24-048290-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862831/000095017024048290/fisi-20240331.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-048290
- JSON: https://secwatch.observer/filing/0000950170-24-048290.json
- Plain text: https://secwatch.observer/filing/0000950170-24-048290.txt

## Key facts
- Earnings Releases
  FINANCIAL INSTITUTIONS INC reported first quarter ended March 31, 2024 results: net income Net income was $2.1 million, EPS $0.11 per diluted share.
  - Period: first quarter ended March 31, 2024
  - Net income: Net income was $2.1 million
  - EPS: $0.11 per diluted share
  - Result: reported results
  source text: On April 25, 2024, Financial Institutions, Inc. (the “Company”) issued a press release to report financial results for the first quarter ended March 31, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/862831/000095017024048290/0000950170-24-048290-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.