Financial Institutions Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2009. For the quarter, the company's income before income tax was $4.7 million against loss before income tax of $27.9 million for the same period a year ago. Net income was $4.7 million compared to $28.4 million for the same period a year ago. Net income for the company was $3.4 million or $0.23 per diluted share for the third quarter of 2009, compared with a net loss of $28.4 million or $2.66 per diluted share for the third quarter of 2008. Net interest income for the third quarter of 2009 was $18.1 million, an increase of $1.3 million or 8% over the third quarter of 2008. Returns on average assets was 0.66% compared to loss on average assets of 5.93% for the same period a year ago. Returns on average equity was 6.93% compared to loss on average equity of 62.44% for the same period a year ago. The company reported interest income of $70.092 million compared to the interest income of $74.366 million for the same period a year ago. For the first nine months of 2009, net income was $9.0 million or $0.57 per diluted share, compared with a net loss of $23.0 million or $2.21 per diluted share for the same period last year. Income before income tax was $12.4 million against loss before income tax of $21.7 million for the same period a year ago. For the first nine months of 2009, net interest income was $53.1 million, an increase of $5.0 million or 10% over the first nine months of 2008. An improved mix of earning assets, primarily driven by growth in the loan portfolio, coupled with a significant decline in funding costs were the primary factors driving the performance of net interest income and margin. Returns on average assets was 0.60% compared to loss on average assets of 1.62% for the same period a year ago. Returns on average equity was 6.24% compared to loss on average equity of 16.07% for the same period a year ago. The fair value of those securities at September 30, 2009 was $10.7 million resulting in an unrealized gain of $469 thousand over the adjusted book value of $10.2 million. The reduction in this group of securities has resulted from sales, amortization and recognition of other than temporary impairment charges. Common book value per share was $13.18 compared to $12.51 for the same period a year ago. The company reported interest income of $23.697 million compared to the interest income of $24.558 million for the same period a year ago.

Financial Institutions Inc. expected to Report Fiscal Year 2009 Results on January 25, 2010. This event was calculated by Capital IQ (Created on October 22, 2009).

On September 2, 2009, Financial Institutions Inc. and Five Star Bank announced the appointment of Mr. Karl Krebs as Executive Vice President, Chief Financial Officer and Principal Accounting Officer effective October 1, 2009. Mr. Krebs returns to the company after serving as a Senior Financial Specialist at West Valley Environmental Services, LLC during 2009 and President of Robar General Funding Corp. from 2006 to 2008. Mr. Krebs was previously employed by the company and Bank as a senior financial officer from 2004 to 2006. Mr. Krebs will be succeeding Mr. Ronald Miller, who is retiring as CFO and PAO effective October 1, 2009 as part of the company's management succession plan. As previously announced, Mr. Miller will be formally retiring from employment in early 2010. In the interim, he will continue to serve as Executive Vice President and Secretary and will be assisting with the transition and special projects.