secwatch.observer — SEC 8-K summary
======================================

Issuer:     COMMUNITY FINANCIAL SYSTEM, INC. (CBU)
CIK:        0000723188
Form:       8-K
Filed at:   2022-07-25T23:59:59+00:00
Accession:  0001104659-22-082270
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Community Bank System Q2 net income $39.8M, EPS $0.73, down 17% YoY
-------------------------------------------------------------------

- GAAP EPS $0.73 vs $0.88 a year ago; operating EPS (non-GAAP) $0.85 vs $0.88.
- Net interest income rose 12% to $103.1M; net interest margin increased to 2.89% from 2.79%.
- Completed Elmira Savings Bank acquisition; total loans up $722.4M (9.7%) vs Q1 2022.
- Provision for credit losses of $6.0M (incl. $3.9M acquisition-related) vs a $4.3M benefit in Q2 2021.
- Adjusted pre-tax pre-provision net revenue per share $1.13, up $0.07 from prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723188/000110465922082270/0001104659-22-082270-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723188/000110465922082270/tm2221692d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-082270

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer