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Mar 31, 2022
Financial Institutions Q1 2022 Earnings Report
Reported solid first quarter results with earnings of $15 million, driven by growth in loans and deposits, and revenue from insurance and investment advisory lines of business.
Key Takeaways
Financial Institutions, Inc. reported a net income of $15.0 million for the first quarter of 2022, a decrease compared to $20.7 million in the first quarter of 2021. The decrease was primarily due to a $2.3 million provision for credit losses and a $2.5 million decrease in revenue related to PPP loans.
Net income for the quarter was $15.0 million, compared to $20.7 million in the first quarter of 2021.
Earnings per diluted share were $0.93, compared to $1.27 in the first quarter of 2021.
Net interest income was $39.6 million for the quarter, an increase of $1.7 million from the first quarter of 2021.
Total assets were $5.63 billion at March 31, 2022, up $301.4 million from March 31, 2021.
Financial Institutions
Financial Institutions
Financial Institutions Revenue by Segment
Revenue by Segment
Insurance income Revenue
CapyFin.comInvestment advisory Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report.