Community Financial System Q2 net income $47.9M ($0.91 EPS); total revenues record $183.8M

COMMUNITY FINANCIAL SYSTEM, INC.

2024-Q2 EPS reported $1.67 revenue$361,074,000

Net income $47.9M ($0.91 diluted EPS) up $0.02 YoY; operating EPS $0.95, down $0.01 YoY.
Total revenues $183.8M (record) +4.9% YoY; net interest income $109.4M +0.1% YoY.
Financial services revenues $54.1M (record) +12.1% YoY from benefit, insurance & wealth.
Loans $10.02B +1.4% QoQ (12th consecutive quarter growth); deposits $13.14B -1.6% QoQ.
Annualized net charge-offs 0.05%; Tier 1 leverage 9.07% well above 5% well-capitalized standard.

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