NASDAQ$FISI
Financial Institutions Inc · Q1 2020 earnings
Q1 2020 earnings · · Investor relations
Briefing
Financial results announced with a decrease in net income due to higher provision for credit losses.
Financial Institutions, Inc. reported a net income of $1.1 million for the first quarter of 2020, a significant decrease compared to $11.5 million in the first quarter of 2019. The results were negatively impacted by a higher provision for credit losses of $13.9 million, driven by the adoption of CECL and the impact of COVID-19.
- Net income was $1.1 million, down from $11.5 million in Q1 2019.
- Earnings per diluted share were $0.05, compared to $0.70 in Q1 2019.
- Provision for credit losses increased to $13.9 million due to CECL adoption and COVID-19 impacts.
- Net interest income was $33.1 million, slightly higher than $31.792 million in Q1 2019.
Headline financials
Revenue & EPS history
Financial Institutions · Revenue · Quarterly
$43.1M
Revenue by segment
Financial Institutions · $7.33M total across 9 segments · Q1 2020
- Investment Advisory$2.25M—30.6%
- Deposit Fees$1.59M—21.7%
- Insurance Income$1.35M—18.4%
- Other$1.2M—16.3%
- COLI Income$465K—6.3%
- Loan Sale Gains$304K—4.1%
- Limited Partnerships$213K—2.9%
- Loan Servicing$7K—0.1%
- Tax Credit Loss-$40K—-0.5%
Forward guidance
The Company continued to advance the major transformational and technology initiatives announced last quarter. A multiple-phase launch of Five Star Digital Banking is planned for the second quarter of 2020. An enterprise standardization program, focused on improving operational efficiency and enhancing future profitability, continues to move forward as well.
Tailwinds
- Five Star Bank Digital Banking platform will completely replace the existing digital platform for consumer and commercial customers
- The new platform is expected to significantly improve the user experience across all devices
- The company enhance customers’ capabilities to interact with us digitally
- A multiple-phase launch of Five Star Digital Banking is planned for the second quarter of 2020
- The Company is evaluating activities and functions across the organization, focusing on ways to improve operational efficiency and automate low-value, repetitive activities using robotic process automation while also enhancing the employee and customer experience.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2020
+0.8%
Avg return
Earnings day
+2.4%
Avg return
5 days after
+2.7%
Avg return
30 days after
64%
42 / 66 earnings
Positive
+12.3%
Q3 2020
Best reaction
-15.4%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.5% | -0.4% | +3.5% | |
| Q4 2025 | +0.2% | +5.6% | -4.7% | |
| Q3 2025 | +9.4% | +9.2% | +11.3% | |
| Q2 2025 | -2.3% | -1.7% | +2.5% | |
| Q1 2025 | +5.8% | +8.9% | +6.9% | |
| Q4 2024 | -2.9% | +0.4% | -15.2% | |
| Q3 2024 | -6.2% | -4.4% | +8.9% | |
| Q2 2024 | +8.6% | +16.1% | +9.2% | |
| Q1 2024 | -1.0% | -3.1% | +1.2% | |
| Q4 2023 | -6.7% | -5.2% | -18.3% | |
| Q3 2023 | +0.0% | +1.9% | +14.9% | |
| Q2 2023 | +9.4% | +5.7% | -2.4% | |
| Q1 2023 | +0.4% | -0.3% | -4.4% | |
| Q4 2022 | +2.3% | +6.0% | +3.5% | |
| Q3 2022 | -1.0% | -7.7% | -3.0% | |
| Q2 2022 | -0.5% | -2.1% | -0.7% | |
| Q1 2022 | -1.1% | -2.2% | -2.0% | |
| Q4 2021 | +1.9% | +1.7% | +0.5% | |
| Q3 2021 | +2.4% | +3.4% | -0.3% | |
| Q2 2021 | +0.7% | +4.1% | +10.1% | |
| Q1 2021 | +5.4% | +9.9% | +8.2% | |
| Q4 2020 | +1.2% | +10.7% | +21.0% | |
| Q3 2020 | +12.3% | +19.1% | +32.1% | |
| Q2 2020 | +4.5% | +6.3% | +17.3% | |
| Q1 2020 | -15.4% | -18.6% | -14.2% | |
| Q4 2019 | +2.4% | +1.8% | -10.6% | |
| Q3 2019 | +3.1% | +3.3% | +5.8% | |
| Q2 2019 | +4.2% | +3.0% | -1.4% | |
| Q1 2019 | +0.6% | +2.9% | -3.5% | |
| Q4 2018 | +0.4% | +1.4% | +11.1% | |
| Q3 2018 | +4.1% | +8.1% | +9.6% | |
| Q2 2018 | -0.9% | -2.9% | +0.3% | |
| Q1 2018 | +0.3% | +0.2% | +2.5% | |
| Q4 2017 | +2.3% | +3.4% | -0.2% | |
| Q3 2017 | +4.2% | +9.5% | +6.8% | |
| Q2 2017 | -2.6% | -2.8% | -9.4% | |
| Q1 2017 | -1.9% | -3.2% | -10.0% | |
| Q4 2016 | +3.2% | +5.3% | +8.3% | |
| Q3 2016 | +2.4% | +2.9% | +16.1% | |
| Q2 2016 | +0.3% | -0.1% | -1.7% | |
| Q1 2016 | +3.0% | — | — | |
| Q4 2015 | +0.4% | — | — | |
| Q3 2015 | +2.4% | — | — | |
| Q2 2015 | -0.8% | — | — | |
| Q1 2015 | +2.7% | — | — | |
| Q4 2014 | -1.4% | — | — | |
| Q3 2014 | -0.9% | — | — | |
| Q2 2014 | -3.8% | — | — | |
| Q1 2014 | -0.5% | — | — | |
| Q4 2013 | +1.1% | — | — | |
| Q3 2013 | +3.8% | — | — | |
| Q2 2013 | +0.3% | — | — | |
| Q1 2013 | -2.3% | — | — | |
| Q4 2012 | -0.2% | — | — | |
| Q3 2012 | -2.8% | — | — | |
| Q2 2012 | +0.9% | — | — | |
| Q1 2011 | +0.6% | — | — | |
| Q1 2012 | +4.3% | — | — | |
| Q4 2010 | +1.7% | — | — | |
| Q4 2009 | +1.7% | — | — | |
| Q4 2011 | +1.7% | — | — | |
| Q3 2010 | -4.4% | — | — | |
| Q3 2011 | -4.4% | — | — | |
| Q2 2011 | +1.6% | — | — | |
| Q2 2010 | +1.6% | — | — | |
| Q1 2010 | -1.9% | — | — |
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