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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.
Revenue by Segment
Forward Guidance
The company did not provide specific forward guidance in this earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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