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Dec 31, 2021
Financial Institutions Q4 2021 Earnings Report
Financial Institutions, Inc. reported strong fourth quarter and full year results, driven by increased net interest income and a benefit for credit losses.
Key Takeaways
Financial Institutions, Inc. reported a net income of $19.6 million for the fourth quarter of 2021, compared to $13.8 million in 2020. The increase in net income was reflected in a $1.2 million benefit for credit losses in the current quarter as compared to a provision of $5.5 million in the fourth quarter of 2020. Pre-tax pre-provision income was the second highest in Company history at $22.6 million, an increase of $1.7 million from the fourth quarter of 2020.
Net income was $19.6 million, compared to $13.8 million in 2020.
Net income available to common shareholders was $19.2 million, or $1.21 per diluted share, compared to $13.4 million, or $0.84 per diluted share, in 2020.
Pre-tax pre-provision income was $22.6 million, an increase of $1.7 million from the fourth quarter of 2020.
Net interest income was $40.9 million for the quarter, an increase of $4.7 million from the fourth quarter of 2020.
Financial Institutions
Financial Institutions
Financial Institutions Revenue by Segment
Revenue by Segment
Service charges on deposits Revenue
CapyFin.comInsurance income Revenue
CapyFin.comCard interchange income Revenue
CapyFin.comInvestment advisory Revenue
CapyFin.comCompany owned life insurance Revenue
CapyFin.comInvestments in limited partnerships Revenue
CapyFin.comLoan servicing Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
The company did not provide specific forward guidance in this earnings report.