FINANCIAL INSTITUTIONS, INC. (NASDAQ - FISI)
2009 Y 2010 Y 2011 Y 2012 Y 2013 Q1 YTD Source Document 12/31/2011 12/31/2012 12/31/2012 12/31/2012 3/31/2013 Currency Code USD USD USD USD USD (in thousands) Net income 14,441 21,287 22,799 23,449 6,149 Adjustments to reconcile net income to net cash provided by operating activities Depreciation and amortization 4,067 3,537 3,466 3,828 1,051 Net amortization of premiums on securities 2,587 3,005 5,722 5,284 1,328 Provision for loan losses 7,702 6,687 7,780 7,128 2,709 Share-based compensation 854 1,031 1,105 526 102 Deferred income tax expense 7,470 2,468 6,510 6,343 1,702 Proceeds from sale of loans held for sale 90,290 42,195 32,839 55,067 10,288 Originations of loans held for sale (88,999) (44,262) (31,231) (52,754) (10,712) Increase in company owned life insurance (1,096) (1,107) (1,424) (1,751) (415) Net gain on sale of loans held for sale (699) (650) (880) (1,421) (200) Net gain on disposal of investment securities (3,429) (169) (3,003) (2,651) (892) Impairment charges on investment securities 4,666 594 18 91 0 Net gain on sale and disposal of other assets (180) 203 (67) 381 (1) Contributions to defined benefit pension plan NA (4,300) (10,000) (8,000) NA Loss on extinguishment of debt 0 0 1,083 0 NA Decrease in other assets (8,773) (353) (7,756) (4,249) 2,192 Decrease in other liabilities (6,633) 5,261 5,057 7,429 (857) Net cash provided by operating activities 22,268 35,427 32,018 38,700 12,444 Purchases of investment securities Available for sale (602,259) (430,952) (158,013) (322,191) (124,157) Held to maturity (29,280) (19,791) (17,188) (15,484) (1,076) Proceeds from principal payments, maturities and calls on investment securities Available for sale 353,545 219,974 168,976 175,679 45,067 Held to maturity 46,891 30,885 21,986 20,819 1,483 Proceeds from sales of securities available for sale 224,928 122,090 44,514 2,823 952 Net loan originations (165,716) (89,507) (157,110) (151,311) (13,570) Loans sold or participated to others 0 0 13,033 0 NA Purchases of company owned life insurance (79) (79) (18,079) (79) (7) Proceeds from sales of other assets 1,709 611 705 734 239 Purchases of premises and equipment (1,959) (2,438) (3,678) (5,840) (1,712) Net cash received in branch acquisitions NA 0 0 195,778 NA Net cash used in investing activities (172,220) (169,207) (104,854) (99,072) (92,781) Net increase in deposits 109,692 139,935 48,709 43,376 147,703 Net decrease in short-term borrowings 36,078 17,567 73,588 29,108 (40,186) Repayments of long-term borrowings (508) (20,080) (26,767) 0 NA Proceeds from issuance of common stock, net of issuance costs 0 0 43,127 0 NA Redemption of Series A preferred stock 0 NA NA NA NA Repurchase of Series B-1 8.48% preferred stock 0 NA NA NA NA Repurchase of preferred stock 0 0 (37,549) (2) (53) Issuance costs of Series A preferred stock (68) NA NA NA NA Repurchase of warrant issued to U.S. Treasury 0 0 (2,080) 0 NA Purchase of common stock for treasury 0 (69) (215) (557) (229) Proceeds from stock options exercised 15 216 91 69 13 Excess tax benefit on share-based compensation 0 0 21 97 6 Cash dividends paid to preferred shareholders (3,160) (3,358) (2,118) (1,474) (368) Cash dividends paid to common shareholders (4,325) (4,332) (5,446) (7,392) (2,194) Net cash provided by financing activities 137,724 129,879 91,361 63,225 104,692 Net increase in cash and cash equivalents (12,228) (3,901) 18,525 2,853 24,355 Cash and cash equivalents, beginning of period 55,187 42,959 39,058 57,583 60,436 Cash and cash equivalents, end of period 42,959 39,058 57,583 60,436 84,791 Cash paid for interest NA NA NA NA 1,812 Cash paid for income taxes NA NA NA NA 140 Noncash investing and financing activities Real estate and other assets acquired in settlement of loans NA NA NA NA 410 Accrued and declared unpaid dividends NA NA NA NA 2,839 (Decrease) increase in net unsettled security purchases NA NA NA NA (43,978)
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