secwatch.observer — SEC 8-K summary
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Issuer:     COMMUNITY FINANCIAL SYSTEM, INC. (CBU)
CIK:        0000723188
Form:       8-K
Filed at:   2024-01-23T23:59:59+00:00
Accession:  0001104659-24-005762
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/723188/000110465924005762/0001104659-24-005762-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/723188/000110465924005762/tm243870d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-005762

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