Financial Institutions, Inc. (FISI) Stock Price & How to Invest
Last updated July 2026
Short answer
You can invest in Financial Institutions (FISI) by buying shares or fractional shares at any major US broker, through a small-cap or regional-bank ETF that holds it, or as one holding in a thematic basket. Financial Institutions, Inc. is the holding company for Five Star Bank, a community bank serving Western, Central, and Finger Lakes New York, plus a wealth-management arm (Courier Capital). The core thesis is a straightforward community-bank story: most of its profit comes from net interest income, the spread between what it earns on loans and securities and what it pays on deposits, so results are rate-sensitive and tied to the health of upstate New York. As a small-cap regional bank it is more volatile and less liquid than the big national banks, and it pays a dividend that income-focused investors often watch.
FISI stock price
As of 2026-07-14, Financial Institutions, Inc. (FISI) last closed at $38.86, up 40.8% over the past year. Over the past 52 weeks it has traded between $24.69 and $40.07.
Prices are daily closing prices from Yahoo Finance and may be delayed. For the live quote, check your broker or Financial Institutions, Inc.'s investor relations page. Walnut is informational, not investment advice.
What does Financial Institutions, Inc. (FISI) do?
Financial Institutions, Inc. (NASDAQ: FISI) is a financial holding company based in Western New York and the parent of Five Star Bank, a community bank with roots going back more than 200 years. Five Star operates dozens of offices across the Western, Central, Southern Tier, and Finger Lakes regions of New York State, plus a commercial loan production office in the Baltimore, Maryland area, serving individuals, municipalities, and businesses. The company also owns Courier Capital, a registered investment advisory and wealth-management firm (HNP Capital merged into Courier in 2023), which adds fee income alongside the bank. FISI sold the assets of its former insurance subsidiary, SDN Insurance Agency, to NFP in 2024, narrowing the company back toward banking and wealth management.
Like most community banks, FISI earns the bulk of its money from net interest income: the difference between yields on loans and securities and the cost of deposits and borrowings. That makes net interest margin, loan and deposit growth, and local credit quality the numbers that matter most. In December 2024 the company raised roughly $95 million by selling common stock at $25 per share, using the proceeds to reposition its available-for-sale securities portfolio and strengthen the balance sheet. Through 2025 that repositioning, plus a friendlier deposit-cost picture, helped net interest income and margin expand, and the company reported record full-year net interest income for 2025 with total loans in the mid-$4 billion range and total deposits above $5 billion. As a small-cap regional lender, its stock tends to move with interest-rate expectations, regional economic conditions, and bank-sector sentiment more than with any single product.
What's driving Financial Institutions, Inc. (FISI)?
1. Net interest margin and the rate cycle
FISI's profitability hinges on net interest margin, the spread between what it earns on loans and securities and what it pays for deposits. Through 2025 that margin expanded as funding costs eased and the 2024 securities repositioning lifted asset yields. Where short-term rates and deposit competition go next is the single biggest swing factor for earnings, since even small margin moves matter a lot on a multi-billion-dollar balance sheet.
2. Loan growth and upstate New York economy
Five Star Bank lends to consumers, businesses, and municipalities across Western, Central, and Finger Lakes New York, so loan growth and credit performance are tied to the regional economy. Commercial lending expansion, including offices in Syracuse and the Baltimore area, is a growth avenue, but concentration in one part of one state means local employment, real estate, and business conditions weigh heavily on results.
3. Balance-sheet strength after the 2024 capital raise
The roughly $95 million common-stock offering in December 2024 was used to reposition lower-yielding securities and shore up capital. That improved the earnings profile and capital ratios, but it also diluted existing shareholders. How well management continues to reinvest at higher yields and manage its securities book is central to whether the reset translates into durable per-share earnings.
4. Wealth management and fee income
Beyond the bank, Courier Capital provides investment advisory and wealth-management services that generate fee income less sensitive to interest rates than lending. Growing this and other noninterest income (service charges, card and deposit fees) can diversify the revenue mix, though it remains small relative to the core spread business that still drives the company.
What are the risks to Financial Institutions, Inc. (FISI)?
The main risks are those of any small regional bank. Interest-rate risk is central: a sharp move in rates or renewed deposit competition can compress net interest margin and quickly change earnings. Geographic concentration in upstate New York means a regional downturn in employment, commercial real estate, or business activity could raise loan losses more than for a nationally diversified bank. Credit quality is a perennial watch item, especially in commercial and commercial-real-estate lending, where a few large problem loans can move results. As a small-cap, FISI is less liquid and more volatile than large banks, and it is sensitive to broad bank-sector sentiment, as the 2023 regional-bank stress showed. The 2024 capital raise diluted shareholders, and future capital needs or securities-portfolio marks could pressure book value. Dividend sustainability depends on earnings and regulatory capital, so payouts are not guaranteed.
How is Financial Institutions, Inc. (FISI) valued? (approximate, Jul 2026)
A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Financial Institutions, Inc.'s investor relations page or your broker.
- Business model: Community bank holding company; most revenue is net interest income from loans and securities, with a smaller noninterest (fee and wealth-management) contribution
- Scale: Small-cap regional bank; total loans in the mid-$4 billion range and total deposits above $5 billion as reported for year-end 2025
- Earnings trend: Net interest income and net interest margin expanded through 2025 after the 2024 balance-sheet repositioning; the company reported record full-year 2025 net interest income
- Valuation lens: Banks are often valued on price-to-book and price-to-earnings; regional banks like FISI frequently trade below the multiples of large national banks. Check the current figures before acting
- Capital: Raised roughly $95 million in a December 2024 common-stock offering at $25 per share, used to reposition securities and strengthen capital, which diluted existing holders
- Dividend: Pays a regular quarterly cash dividend that income investors watch; the exact rate and yield vary, so confirm the latest declaration
Figures here are qualitative and tied to the asOf date; verify live numbers before acting. For a bank, the numbers that matter most are net interest margin, loan and deposit growth, credit quality (nonperforming loans and charge-offs), efficiency ratio, and regulatory capital, rather than a single headline multiple. Because FISI is a small regional lender, its valuation and share price tend to track interest-rate expectations and bank-sector sentiment as much as its own quarterly execution.
Who competes with Financial Institutions, Inc. (FISI)?
Upstate and Western New York regional banks
Community Financial System (Community Bank), NBT Bancorp, and Tompkins Financial are New York-focused regional and community banks that compete with Five Star Bank for deposits, loans, and commercial relationships across similar upstate markets. They face the same regional economy and rate environment, making them the closest peers.
Small-cap community and regional banks nationally
Dozens of small-cap bank holding companies across the country, such as similarly sized community lenders in the Northeast and Mid-Atlantic, share FISI's model of earning most income from net interest margin. They are alternative ways to invest in the community-bank theme and are collectively represented in regional-bank ETFs.
Large national and super-regional banks
Big banks like JPMorgan Chase, Bank of America, and super-regionals such as M&T Bank and KeyBank operate in overlapping markets with far greater scale, diversification, and liquidity. They are not direct community-bank peers but compete for the same customers and set the sector sentiment that moves small-cap bank stocks like FISI.
How to invest in Financial Institutions, Inc. (FISI)
There are three common ways to get FISI exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it, which spreads the position across many companies. Or build it into a focused thematic basket, so FISI sits alongside other stocks that express the same thesis.
Walnut takes the basket route. Describe a thesis where FISI fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.
The bottom line on Financial Institutions, Inc. (FISI)
FISI is a small upstate New York community bank whose earnings ride on net interest margin, loan growth, and local credit quality. After a 2024 capital raise and balance-sheet repositioning, margins and net interest income improved through 2025, but it remains a rate-sensitive small-cap with regional concentration, so it suits investors comfortable with a steady dividend-and-spread story rather than fast growth.
Build a basket around FISI with Walnut
Use Financial Institutions, Inc. as one constituent in a thematic basket Walnut's AI helps you assemble. Describe a thesis you believe in, the AI proposes the holdings and weights, and you approve before any broker order.
FAQ
Is FISI a good stock to buy right now?
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That depends on your goals, time horizon, and risk tolerance, and this is not investment advice. The case for it is an improving net interest margin, record 2025 net interest income after the 2024 balance-sheet reset, and a regular dividend at a valuation typical of small regional banks. The case against it is concentration in the upstate New York economy, interest-rate and credit risk, small-cap volatility, and dilution from the 2024 capital raise. Weigh both against your own portfolio.
What does Financial Institutions, Inc. actually do?
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It is a financial holding company whose main business is Five Star Bank, a community bank serving Western, Central, Southern Tier, and Finger Lakes New York. The bank takes deposits and makes consumer, commercial, and municipal loans. The company also owns Courier Capital, a wealth-management and investment-advisory firm. Most of its profit comes from net interest income, the spread between loan and securities yields and deposit costs.
What is Five Star Bank?
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Five Star Bank is the banking subsidiary of Financial Institutions, Inc., a community bank with a history going back more than 200 years. It operates dozens of offices across upstate New York, plus a commercial loan office in the Baltimore, Maryland area, serving individuals, businesses, and municipalities. When you buy FISI stock, you are buying the holding company that owns Five Star Bank.
Why did FISI raise capital in 2024?
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In December 2024 the company sold common stock, roughly 4.6 million shares at $25 each for about $95 million in proceeds, to strengthen its balance sheet. It used the money to reposition part of its lower-yielding available-for-sale securities portfolio into higher-yielding assets and to support growth. The raise improved capital and earnings power but diluted existing shareholders.
Does FISI pay a dividend?
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Yes. Financial Institutions has a track record of paying a regular quarterly cash dividend, which is part of why income-oriented investors follow small regional banks. The exact rate and yield change over time and depend on earnings and regulatory capital, so a dividend is never guaranteed. Always check the most recently declared dividend and current yield before assuming any payout.
How did FISI perform in 2025?
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Financial Institutions reported improving results through 2025, with net interest margin expanding and net interest income reaching a record for the full year as funding costs eased and the 2024 securities repositioning lifted asset yields. Total loans were in the mid-$4 billion range and deposits above $5 billion at year-end. Confirm the latest reported figures, since results change each quarter.
What happened to the SDN insurance business?
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Financial Institutions sold the assets of its former insurance subsidiary, SDN Insurance Agency, to NFP in 2024. That narrowed the company back toward its core banking and wealth-management operations. Its remaining non-bank business is Courier Capital, an investment-advisory and wealth-management firm (HNP Capital merged into Courier in 2023).
What are the main risks of investing in FISI?
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The biggest risks are interest-rate risk, since net interest margin drives earnings, and geographic concentration in upstate New York, which ties results to one regional economy. Credit quality in commercial and commercial-real-estate lending is a watch item, and as a small-cap the stock is less liquid and more volatile than large banks and sensitive to broad bank-sector sentiment. The 2024 capital raise also diluted shareholders.
How can I get exposure to FISI through an ETF?
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FISI appears in various small-cap and regional-bank ETFs, where it sits among many community and regional lenders. ETF exposure spreads single-stock risk across dozens of banks but dilutes how much any FISI move affects you. Always check a fund's holdings and weighting before assuming meaningful exposure to Financial Institutions specifically.
Is FISI a large bank?
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No. Financial Institutions is a small-cap community bank holding company, far smaller than national banks like JPMorgan or super-regionals like M&T Bank. Its balance sheet is measured in the low single-digit billions of dollars, and it operates mainly in upstate New York. That smaller scale means more sensitivity to local conditions and typically more share-price volatility than large diversified banks.
Walnut is informational, not investment advice. Financial figures on this page are approximations; always verify current numbers with Financial Institutions, Inc.'s investor relations page or your broker before making investment decisions.