Financial Institutions, Inc. Announces Third Quarter Results

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Go back to Financial Institutions, Inc. Announces Third Quarter Results

Financial Institutions (FISI) Tops Q3 EPS by 26c

October 29, 2020 5:07 PM EDT

Financial Institutions (NASDAQ: FISI) reported Q3 EPS of $0.74, $0.26 better than the analyst estimate of $0.48.

President and Chief Executive Officer Martin K. Birmingham stated, The past seven months have tested us, and I am proud to say that my teammates have responded extraordinarily well in continuing to deliver positive results for our customers, communities and shareholders. We generated record pre-tax pre-provision income in the quarter, driven by growth in net interest income, our diversified revenue streams and disciplined expense management.

We continue to prudently lend and experienced 5.4% growth in our commercial mortgage portfolio, 2.0% growth... More