EX-12.1

Exhibit 12.1

FINANCIAL INSTITUTIONS, INC.

CALCULATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS

(Dollars in thousands)


	Six Months Ended June 30,
	Six Months Ended June 30,		Years Ended December 31,
	2018		2017		2016		2015		2014		2013
Including Interest on Deposits:
Earnings:
Income before taxes	$	26,705	$	43,471	$	44,141	$	38,876	$	38,980	$	37,907
Fixed charges		13,039		18,364		13,234		10,799		7,895		7,916

Total	$	39,744	$	61,835	$	57,375	$	49,675	$	46,875	$	45,823
Fixed charges:
Interest on deposits	$	7,709	$	11,093	$	8,458	$	7,306	$	6,366	$	6,600
Interest on borrowings		4,849		6,402		4,083		2,831		915		737
Portion of rents representative of the interest factor (1/3) of rental expense		481		869		693		662		614		579

Total fixed charges		13,039		18,364		13,234		10,799		7,895		7,916
Preferred stock dividend requirements		910		1,896		2,021		2,006		1,941		2,177

Fixed charges and preferred stock dividends	$	13,949	$	20,260	$	15,255	$	12,805	$	9,836	$	10,093

Ratio of earnings to fixed charges		3.05		3.37		4.34		4.60		5.94		5.79
Ratio of earnings to fixed charges and preferred dividends		2.85		3.05		3.76		3.88		4.77		4.54
Excluding Interest on Deposits:
Earnings:
Income before taxes	$	26,705	$	43,471	$	44,141	$	38,876	$	38,980	$	37,907
Fixed charges		5,330		7,271		4,776		3,493		1,529		1,316

Total	$	32,035	$	50,742	$	48,917	$	42,369	$	40,509	$	39,223
Fixed charges:
Interest on borrowings	$	4,849	$	6,402	$	4,083	$	2,831	$	915	$	737
Portion of rents representative of the interest factor (1/3) of rental expense		481		869		693		662		614		579

Total fixed charges		5,330		7,271		4,776		3,493		1,529		1,316
Preferred stock dividend requirements		910		1,896		2,021		2,006		1,941		2,177

Fixed charges and preferred stock dividends	$	6,240	$	9,167	$	6,797	$	5,499	$	3,470	$	3,493

Ratio of earnings to fixed charges		6.01		6.98		10.24		12.13		26.49		29.80
Ratio of earnings to fixed charges and preferred dividends		5.13		5.54		7.20		7.70		11.67		11.23