---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-085628"
form_type: "8-K"
ticker: "CBU"
cik: "0000723188"
company_name: "COMMUNITY FINANCIAL SYSTEM, INC."
filed_at: "2023-07-31T23:59:59+00:00"
generated_at: "2026-06-12T22:29:39.367006+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001104659-23-085628
- form_type: 8-K
- ticker: CBU
- cik: 0000723188
- company_name: COMMUNITY FINANCIAL SYSTEM, INC.
- filed_at: 2023-07-31T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723188/000110465923085628/0001104659-23-085628-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723188/000110465923085628/tm2316704d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-085628
- JSON: https://secwatch.observer/filing/0001104659-23-085628.json
- Plain text: https://secwatch.observer/filing/0001104659-23-085628.txt

## Key facts
- Earnings Releases
  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
  source text: 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,
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465923085628/0001104659-23-085628-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.