Overview

* Financial Institutions Q3 net income rises to $20.5 mln, up from $13.5 mln year ago

* Net interest income hits record $51.8 mln, reflecting strong loan growth

* Company announces share repurchase program for up to 1,006,379 shares

Outlook

* Company plans to complete BaaS wind-down by early 2026

* Company emphasizes focus on profitable, organic growth for 2025 and 2026

* Company authorized a new share repurchase program for up to 1,006,379 shares

Result Drivers

* NET INTEREST INCOME - Record $51.8 mln net interest income driven by higher yields on loans and securities

* NONINTEREST INCOME - Increased investment advisory and swap fees boost noninterest income

* LOAN GROWTH - Solid commercial loan growth drives total loans to $4.59 bln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.99

Q3 Net $20.10

Income mln

Q3 Net $51.80

Interest mln

Income

Q3 Net 3.65%

Interest

Margin

(%)

Analyst Coverage

* The one available analyst rating on the shares is "buy"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Financial Institutions Inc ( FISI ) is $34.00, about 21.8% above its October 21 closing price of $26.60

* The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)