Highest-materiality recent filing
Community Financial System closes $39M cash acquisition of ClearPoint Federal Bank & Trust
All-cash deal valued at $39M; ClearPoint has $1.5B AUM and 9.7% three-year revenue CAGR.
All 12 director nominees elected with votes-for ranging from 38.7M to 40.3M out of about 45.7M votes cast.
Community Financial System posts investor presentation to website
Presentation posted on May 13, 2026 for upcoming meetings with investors and analysts.
Q1 2026 results announced on April 29, 2026; earnings release available on investor relations website.
Community Financial System posts investor presentation for upcoming meetings
Posted investor presentation on Events & Presentations page at communityfinancialsystem.com.
Brenda M. Hall elected to Board of Directors, effective March 1, 2026.
CBU Q4/FY 2025 earnings release filed; financial data not in exhibit, only via web link
Press release issued for Q4 and full year 2025 results; full details at https://communityfinancialsystem.com/Q4-2025-CBU-Earnings-Release
Community Financial System to acquire ClearPoint Federal Bank & Trust for $40M in cash
All-cash acquisition of ClearPoint Federal Bank & Trust for $40M, subject to purchase price adjustment.
Jeffrey M. Levy retired as SVP and Chief Banking Officer of Community Bank, N.A., effective December 31, 2025.
Community Financial System posts investor presentation on website for upcoming meetings
Presentation posted on November 12, 2025.
Community Bank completes acquisition of seven Santander branches in Allentown, PA
Acquired approximately $553M in deposits and $31.9M in performing loans from Santander Bank.
CBU reports Q3 2025 earnings; full release available on website only
Third quarter ended September 30, 2025; results announced October 21, 2025.
Community Financial System appoints John A. Vaccaro as independent director effective Oct 1, 2025
Appointed John A. Vaccaro as independent director effective October 1, 2025.
Community Financial System invests $37.4M in Leap Holdings (insurtech MGA for rental housing)
Acquired ~$37.35 million in preferred and common stock of Leap Holdings, Inc., a minority investment.
Jeffrey M. Levy notified retirement as SVP and Chief Banking Officer of Community Bank, N.A., effective Dec 31, 2025.
CBU Q2 2025: Net income $51.3M ($0.97), record revenues $199.3M, up 8.4% YoY
Net income $51.3M ($0.97 diluted EPS), up $0.06 YoY; operating net income $55.4M ($1.04 per share).
Community Bank to acquire 7 Santander branches in Allentown, PA, adding ~$600M deposits
Acquires 7 Santander branches in Allentown area; assumes ~$600M deposits and ~$33M loans.
Shareholders elect 12 directors, approve say-on-pay and auditor ratification at annual meeting
All 12 director nominees elected to one-year terms; vote totals range from 37.4M to 40.2M for.
Community Financial Q1 2025 net income $49.6M ($0.93 EPS); net interest income record $120.2M
GAAP EPS of $0.93, up $0.17 YoY; operating EPS $0.98, up $0.16 YoY.
Community Financial System appoints Marya Burgio Wlos as EVP and CFO, effective March 31, 2025
Marya Burgio Wlos appointed EVP & CFO effective March 31, 2025; Joseph Sutaris to retire but will stay through July 1 for transition.
Director Susan Skerritt to retire from Community Financial Board after 2025 annual meeting
Susan Skerritt notified Company she will not stand for re-election at the 2025 Annual Meeting.
CBU Q4 net income $49.8M ($0.94/share); record total revenues $196.3M, up 10.9% YoY
Q4 net income $49.8M ($0.94 EPS) vs $0.63 EPS in Q4 2023; full-year net income $182.5M ($3.44 EPS) up $0.99/share YoY.
Community Financial System approves new stock repurchase program of up to 2,628,000 shares for 2025
Board authorized repurchase of up to 2,628,000 shares during the twelve-month period starting January 1, 2025.
CFO Joseph E. Sutaris to retire in Q3 2025; successor search underway
Joseph E. Sutaris notified retirement as EVP and CFO, effective around Q3 2025.
Community Financial System Q3 EPS $0.83, revenue record $188.9M; loans up 2.3% QoQ
Net income $43.9M ($0.83 diluted EPS), up $0.01 YoY but down $0.08 from Q2.
Community Financial System appoints Deresa Durkee as SVP and Chief Accounting Officer
Deresa Durkee, age 55, promoted from SVP and Corporate Controller to SVP and Chief Accounting Officer effective Sept 30, 2024.
Community Financial System appoints Savneet Singh, CEO of PAR Technology, as independent director
Savneet Singh appointed effective Oct 1, 2024; board expands to 13 directors (12 independent).
Investor Day to be held in-person and virtually at NYSE on September 6, 2024.
Community Financial System Q2 net income $47.9M ($0.91 EPS); total revenues record $183.8M
Net income $47.9M ($0.91 diluted EPS) up $0.02 YoY; operating EPS $0.95, down $0.01 YoY.
Quarterly dividend increased to $0.46 per share, up $0.01 or 2.2% from prior quarter.
Community Financial System declares $0.45 quarterly dividend and reports annual meeting results
Quarterly dividend of $0.45 per share, payable July 10, 2024 to holders of record June 14, 2024; 3.78% annualized yield.
Community Bank System rebrands as Community Financial System; ticker CBU unchanged
Name change effective May 15, 2024; stock trades under new name on NYSE starting May 24.
Community Bank System Q1 2024 net income $40.9M ($0.76 EPS); record revenue $177.3M
Net income of $40.9M ($0.76 diluted EPS) increased $35.1M YoY; operating net income of $43.8M ($0.82) decreased $5.9M YoY.
CBU records $5.8M wage litigation accrual; cuts Q4 2023 EPS by $0.08
Settlement agreed on Feb 5, 2024 for threatened class action under FLSA and state labor laws.
Q4 EPS $0.71 down $0.26 YoY; record revenue $177M but net income $38.3M
GAAP EPS $0.71 vs $0.97 in Q4 2022; operating EPS $0.76 vs $0.96.
Community Bank System elects Michele Sullivan as independent director effective Feb 1, 2024
Michele Sullivan, retired Crowe LLP partner, elected to Board as independent director, effective Feb 1.
CEO Mark Tryniski retires; Dimitar Karaivanov becomes President and CEO effective Jan 1, 2024
Mark Tryniski retired as President and CEO on Dec 31, 2023, consistent with previously announced succession plan.
Community Bank System elects Dimitar Karaivanov to board; authorizes 2.7M share repurchase program
Dimitar Karaivanov, currently EVP/COO, elected to Board effective Jan 1, 2024; will become President and CEO on same date.
CBU Q3 net income falls to $44.1M ($0.82 EPS) from $48.7M YoY; loans up 3% QoQ
GAAP net income $44.1M ($0.82 diluted EPS) vs. $48.7M ($0.90) a year ago; operating net income $44.2M ($0.82).
Community Bank System Q2 net income $48.3M ($0.89 EPS); dividend raised to $0.45
GAAP EPS $0.89, up from $0.73 a year ago; operating EPS $0.91 (non-GAAP), up $0.06 YoY.
Plan covers EVP CHRO Gillan-Myer, SVP Levy, and CFO Sutaris (effective Jan 1, 2024); CEO Tryniski and COO Karaivanov excluded.
Mark Tryniski to step down as President & CEO on Dec 31, 2023; will remain a director through Dec 31, 2024 if nominated.
Community Bank System declares $0.44 quarterly dividend; annualized yield 3.85%
Quarterly cash dividend of $0.44 per share, payable July 10, 2023 to holders of record June 15, 2023.
Community Bank System Q1 net income $5.8M ($0.11 EPS) vs $47.1M ($0.86) YoY; operating EPS $0.86
GAAP EPS $0.11, down from $0.86; includes $52.3M pre-tax loss on sale of AFS securities ($0.75/share hit).
Community Bank System sells $786M in securities, takes ~$39.6M after-tax loss in repositioning
Sold $786.1M book value of lower-yielding AFS debt securities; after-tax loss ~$39.6M.
CBU Q4 GAAP EPS $0.97, up 21% YoY; operating EPS $0.96; loan growth strong
Q4 GAAP EPS $0.97 vs $0.80 YoY; operating EPS $0.96 vs $0.81; full-year GAAP EPS $3.46 vs $3.48.
Board amends director retirement timing; approves 2.7M share repurchase program for 2023
Bylaw amendment: director mandatory retirement now effective at first annual meeting after turning 70, replacing Dec 31 deadline.
CBU Q3 2022 EPS $0.90 (+8.4% YoY); record adjusted PPNR $1.25
GAAP and operating EPS of $0.90, up from $0.83 in Q3 2021; net income $48.7M.
Community Bank System COO promotion and Retail Banking president retirement
Joseph Serbun, President Retail Banking, retires effective Sept 30, 2022 after 14 years.
Community Bank System Q2 net income $39.8M, EPS $0.73, down 17% YoY
GAAP EPS $0.73 vs $0.88 a year ago; operating EPS (non-GAAP) $0.85 vs $0.88.
Joseph E. Sutaris, who previously notified the Company and the Bank of his intent to retire as Executive Vice President and Chief Financial Officer, will remain with the Company and the Bank through July 1, 2025
announced the appointment of Marya Burgio Wlos as Executive Vice President and Chief Financial Officer of the Company and the Bank, effective as of March 31, 2025.
On February 13, 2025, Susan E. Skerritt, a member of the Board of Directors (the “Board”) of Community Financial System, Inc. (the “Company”) notified the Company that she will not stand for re-election at the Company’s 2025 Annual Meeting of Shareholders (the “2025 Annual Meeting”) and will retire from the Board, effective immediately following the 2025 Annual Meeting.
On November 7, 2024, Joseph E. Sutaris notified Community Financial System, Inc. (the “Company”) of his intention to retire, effective in or around the third quarter of 2025, from his position as the Executive Vice President (“EVP”) and Chief Financial Officer of the Company
On September 30, 2024, Community Financial System, Inc. (the “Company”) and its wholly owned banking subsidiary, Community Bank, N.A. (the “Bank”), appointed Deresa F. Durkee as Senior Vice President (“SVP”) and Chief Accounting Officer, effective immediately.
On September 25, 2024, Community Financial System, Inc.’s (the “Company”) Board of Directors (the “Board”) elected Savneet Singh as a new independent director, effective as of October 1, 2024.
elected Michele Sullivan as a new independent director, effective as of February 1, 2024.
On January 1, 2024, Dimitar A. Karaivanov, the Company’s Executive Vice President and Chief Operating Officer (“COO”), was appointed as the Company’s and the Bank’s President and Chief Executive Officer.
As previously announced, Mr. Karaivanov was appointed to serve as a Director of the Company and the Bank, effective January 1, 2024.
Consistent with the previously announced succession plan, on December 31, 2023, Mark E. Tryniski, the President and Chief Executive Officer of Community Bank System, Inc. (the “Company”) and its wholly-owned subsidiary, Community Bank, N.A. (the “Bank”) retired as an executive officer of the Company and the Bank.
Mr. Karaivanov’s election to the Board is part of the previously announced succession plan in which Mr. Karaivanov will assume the role of President and Chief Executive Officer of the Company and the Bank effective as of January 1, 2024.
elected Dimitar Karaivanov, the Company’s Executive Vice President and Chief Operating Officer (“COO”), to serve as a Director of the Company and its wholly-owned subsidiary, Community Bank, N.A. (the “Bank”), effective as of January 1, 2024.
Max materiality 0.85 · Median 0.55 · Most common event earnings