secwatch.observer — SEC 8-K summary
======================================

Issuer:     FINANCIAL INSTITUTIONS INC (FISI)
CIK:        0000862831
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0000950170-24-117049
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/862831/000095017024117049/0000950170-24-117049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/862831/000095017024117049/fisi-20240930.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-117049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer