This Week
  • The airport's $63 million transformation plan is approaching takeoff.

  • Jewish Senior Life CEO Michael King oversees a $58 million non-profit organization.

  • Defying nationwide trends, some local Catholic schools have steady or growing enrollment.

  • Admar Supply Co. Inc. has expanded its geographic reach.

  • Tony Zaccaglino's new family are the people he serves at St. John's facilities.

  • The Schools Report Card has rankings for 27 districts and more than 250 schools.

Net income climbs in Q1 for Five Star Bank parent

Rochester Business Journal
April 24, 2014

Financial Institutions Inc. reported a 19 percent jump in its first-quarter profit and beat Wall Street estimates by a nickel a share.

The Warsaw, Wyoming County-based parent of Five Star Bank reported net income available to common shareholders of $6.9 million, or 50 cents a diluted share, compared with $5.9 million, or 42 cents a share, in the first quarter 2013.

The Street pegged earnings at 45 cents a share for the most-recent quarter.

The company announced its earnings Wednesday after the market closed.

“We are building on the momentum from our solid performance last year,” President and CEO Martin Birmingham said in a statement. “This is a strong start to 2014 and reinforces our confidence in the outlook for Five Star Bank.”

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

Financial Institutions stock (NasdaqGS: FISI) was trading at $23.70 midafternoon Thursday, up from Wednesday close of $23.69.

(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