---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-110973"
form_type: "8-K"
ticker: "CBU"
cik: "0000723188"
company_name: "COMMUNITY FINANCIAL SYSTEM, INC."
filed_at: "2023-10-24T23:59:59+00:00"
generated_at: "2026-06-09T15:10:11.337791+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# CBU Q3 net income falls to $44.1M ($0.82 EPS) from $48.7M YoY; loans up 3% QoQ

## Summary
- GAAP net income $44.1M ($0.82 diluted EPS) vs. $48.7M ($0.90) a year ago; operating net income $44.2M ($0.82).
- Total ending loans $9.45B, up $279M (+3.0%) from prior quarter, ninth consecutive quarter of loan growth.
- Total deposits $13.03B, up $159M (+1.2%) from prior quarter and flat vs. Dec. 2022.
- Financial Services revenue $50.0M, a quarterly record, up $3.3M (+7.1%) YoY.
- Annualized net charge-offs 0.05%; Tier 1 Leverage ratio 9.44%, up 9 bps from prior quarter.

## SEC filing metadata
- accession: 0001104659-23-110973
- form_type: 8-K
- ticker: CBU
- cik: 0000723188
- company_name: COMMUNITY FINANCIAL SYSTEM, INC.
- filed_at: 2023-10-24T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723188/000110465923110973/0001104659-23-110973-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723188/000110465923110973/tm2329006d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-110973
- JSON: https://secwatch.observer/filing/0001104659-23-110973.json
- Plain text: https://secwatch.observer/filing/0001104659-23-110973.txt

## Key facts
- Earnings Releases
  COMMUNITY FINANCIAL SYSTEM, INC. reported third quarter 2023 results: net income $44.1 million, EPS $0.82 per fully diluted share.
  - Period: third quarter 2023
  - Net income: $44.1 million
  - EPS: $0.82 per fully diluted share
  - Result: reported results
  source text: Community Bank System, Inc. (the "Company") (NYSE: CBU) reported third quarter 2023 results that are included in the attached supplement.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465923110973/0001104659-23-110973-index.htm

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