This Week
  • The Market at I-Square is a milestone for the $18 million project in Irondequoit.

  • Leonard Brock grew up very poor and tries to help others in need.

  • Pharos Systems International has grown to become a multinational enterprise.

  • For employees today, paid leave is one of the most important benefits.

  • New Simon School dean Andrew Ainslie has a plan to raise its national stature.

  • The RBJ 75 supplement presents a list of the 75 largest private-sector employers.

Five Star Bank parent reports flat Q4 earnings

Rochester Business Journal
January 30, 2014

Shares of Financial Institutions Inc. were up 3 percent in early afternoon trading after the company reported flat fourth-quarter net income with earnings per share falling 4 cents short of analyst estimates.
 
The parent of Five Star Bank on Wednesday reported net income of just more than $6 million, or 43 cents a diluted share, available to common shareholders, compared with nearly $6 million, and 43 cents a share, in the fourth quarter 2012.

Net income for 2013 totaled nearly $24.1 million, or $1.75 a diluted share, available to shareholders, up 9.5 percent from nearly $22 million, or $1.60 a share, in 2012.

“We remain committed to delivering shareholder value by leveraging opportunities within existing markets, including strengthening our positions in Buffalo and Rochester,” President and CEO Martin Birmingham said in an earnings statement released Wednesday after the markets closed.

Five Star Bank ranks seventh in the Rochester market with local deposits of $888.3 million, data from the Federal Deposit Insurance Corp. shows.

(c) 2014 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email service@rbj.net.


What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment

 
Username:
Password:

Not registered? Sign up now!
 

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google