FISI Q3 2024 net income $13.5M ($0.84 EPS), down from $25.6M in Q2 on insurance asset sale gain absence

FINANCIAL INSTITUTIONS INC

2024-Q3 EPS reported $2.57

Diluted EPS $0.84 vs $1.62 Q2 2024 and $0.88 Q3 2023; net interest margin 2.89% (+2 bps QoQ).
Deposits $5.31B, +$173M (+3.4%) QoQ; loans $4.40B, -$58.5M (-1.3%) QoQ.
Noninterest income $9.4M vs $24.0M Q2 (Q2 included $13.5M pre-tax gain on insurance asset sale).
Non-performing loans $40.7M (0.93% of total loans) vs $25.2M (0.57%) at Q2; provision $3.1M up from $2.0M.
Common equity tier 1 ratio 10.28% (+25 bps QoQ); orderly wind-down of BaaS offerings targeted for 2025.

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