Community Bank System Q2 net income $48.3M ($0.89 EPS); dividend raised to $0.45

COMMUNITY FINANCIAL SYSTEM, INC.

2023-Q2 EPS reported $1.00

GAAP EPS $0.89, up from $0.73 a year ago; operating EPS $0.91 (non-GAAP), up $0.06 YoY.
Total loans $9.17B, up 2.1% from prior quarter; net interest margin 3.18%, up 29 bps YoY.
Noninterest revenues $66.0M, up 2.9% YoY; insurance services revenue up 21.3%.
Quarterly dividend raised to $0.45/share (2.3% increase), 31st consecutive annual increase.
Tier 1 leverage ratio 9.35%; annualized net charge-offs only 0.03%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

COMMUNITY FINANCIAL SYSTEM, INC. reported the quarter ended June 30, 2023 results: revenue $175.3 million, net income $48.3 million, EPS $0.89 per fully-diluted share.

Period: the quarter ended June 30, 2023
Revenue: $175.3 million
Net income: $48.3 million
EPS: $0.89 per fully-diluted share
Result: reported results

Exact text from the filing

businesses contributed $48.3 million in revenues in the second quarter, which represents 73.2% of total noninterest revenues of $66.0 million and 27.5% of total revenues of $175.3 million. Asset quality remained strong as annualized net charge-offs were only three basis points in the quarter. Total operating expenses, which excludes acquisition-related expenses,

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COMMUNITY FINANCIAL SYSTEM, INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-085628

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