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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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