---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-005762"
form_type: "8-K"
ticker: "CBU"
cik: "0000723188"
company_name: "COMMUNITY FINANCIAL SYSTEM, INC."
filed_at: "2024-01-23T23:59:59+00:00"
generated_at: "2026-06-06T20:18:41.375450+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Q4 EPS $0.71 down $0.26 YoY; record revenue $177M but net income $38.3M

## Summary
- GAAP EPS $0.71 vs $0.97 in Q4 2022; operating EPS $0.76 vs $0.96.
- Total revenues $177.0M, a new quarterly record, up 0.6% YoY.
- Loans grew 2.7% from prior quarter to $9.70B; deposits fell 0.8% to $12.93B.
- Nonperforming loans rose to 0.56% of total loans from 0.39% in Q3 2023.
- FDIC special assessment of $1.5M recognized in Q4; net interest margin 3.05%.

## SEC filing metadata
- accession: 0001104659-24-005762
- form_type: 8-K
- ticker: CBU
- cik: 0000723188
- company_name: COMMUNITY FINANCIAL SYSTEM, INC.
- filed_at: 2024-01-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/723188/000110465924005762/0001104659-24-005762-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/723188/000110465924005762/tm243870d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-005762
- JSON: https://secwatch.observer/filing/0001104659-24-005762.json
- Plain text: https://secwatch.observer/filing/0001104659-24-005762.txt

## Key facts
- Earnings Releases
  COMMUNITY FINANCIAL SYSTEM, INC. reported fourth quarter ended December 31, 2023 results: revenue $177.0 million, net income $38.3 million, EPS $0.71 per fully diluted share.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: $177.0 million
  - Net income: $38.3 million
  - EPS: $0.71 per fully diluted share
  - Result: reported results
  source text: of $181.3 million, or $3.36 per fully diluted share, was down $13.6 million, or $0.22 per fully diluted share, from full year 2022 · Total revenues for fourth quarter 2023 of $177.0 million, a new quarterly record for the Company, were up $1.0 million, or 0.6%, from the prior year’s fourth quarter and up $1.6 million, or 0.9%, from third quarter 2023 · Total
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465924005762/0001104659-24-005762-index.htm
- Earnings Releases
  COMMUNITY FINANCIAL SYSTEM, INC. reported full year ended December 31, 2023 results: net income $136.5 million, EPS $2.53 per fully diluted share.
  - Period: full year ended December 31, 2023
  - Net income: $136.5 million
  - EPS: $2.53 per fully diluted share
  - Result: reported results
  source text: Community Bank System, Inc. (the “Company”) (NYSE: CBU) reported fourth quarter 2023 net income of $38.3 million, or $0.71 per fully diluted share and full year 2023 net income of $136.5 million, or $2.53 per fully diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/723188/000110465924005762/0001104659-24-005762-index.htm

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