secwatch.observer — SEC 8-K summary
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Issuer:     COMMUNITY FINANCIAL SYSTEM, INC. (CBU)
CIK:        0000723188
Form:       8-K
Filed at:   2023-10-24T23:59:59+00:00
Accession:  0001104659-23-110973
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723188/000110465923110973/0001104659-23-110973-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723188/000110465923110973/tm2329006d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-110973

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