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Jun 30, 2020
Financial Institutions Q2 2020 Earnings Report
Financial results reported for the second quarter ended June 30, 2020.
Key Takeaways
Financial Institutions, Inc. reported net income of $11.1 million for the second quarter of 2020, a slight decrease compared to $11.4 million for the same period in 2019. The company successfully launched its new digital banking platform and delivered strong net income and pre-tax pre-provision income despite headwinds.
Net income for the quarter was $11.1 million, compared to $11.4 million in Q2 2019.
Pre-tax pre-provision income was $17.3 million, compared to $16.7 million in Q2 2019.
Five Star Bank launched a new digital banking platform during the quarter.
The company helped 1,700 small businesses and 18,000 employees through the PPP, and thousands of consumers through COVID-19 relief efforts.
Financial Institutions
Financial Institutions
Forward Guidance
The company will pay close attention to conditions across our markets, the United States and the global economy to address any deterioration promptly.