Company Profile & Strengths - Community Bank System (CBU) is one of the largest community banks in Upstate New York, with approximately $11.8 billion in total assets[4] - CBU's 12-year cumulative total return to shareholders is 268%, or 11.5% annualized, compared to 41%, or 2.9% annualized, for the KBW Regional Banking Index[6] - Noninterest revenues accounted for 39% of operating revenues in Q1 2020[21] Recent Accomplishments & Strategy - CBU reported a Return on Assets of 1.41%, Return on Tangible Equity of 14.52%, and Net Interest Margin of 3.65% in Q1 2020[8] - The company aims for a 10% annual total shareholder return over time through organic growth and acquisitions[9] - Banking Services noninterest revenue increased by 4% to $18.1 million in Q1 2020[19] - Employee Benefit Plan Administration and Trust Services revenue increased by 5.5% to $25.4 million in Q1 2020[19] - Wealth Management & Insurance revenue increased by 6.9% to $15.2 million in Q1 2020[19] Growth & Acquisitions - CBU's noninterest revenue has a 12-year Compound Annual Growth Rate (CAGR) of 14.2% from 2007-2019[22] - The pending acquisition of Steuben Trust Corporation involves an aggregate merger consideration of approximately $106.7 million[28] COVID-19 Response & Financials - As of April 30, 2020, CBU granted loan payment deferrals on 5,694 loans, representing $735 million in loan balances, or 10.2% of portfolio outstandings[63, 64] - Paycheck Protection Program (PPP) loan applications representing $497 million have received SBA authorization through April 30, 2020[63]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________________to___________________ Commission File Number: 001-13695 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorpor ...

Community Bank System, Inc. (NYSE:CBU) Q1 2020 Earnings Conference Call April 20, 2020 11:00 AM ET Company Participants Mark Tryniski - President and Chief Executive Officer Joseph Sutaris - Executive Vice President and Chief Financial Officer Scott Kingsley - Executive Vice President and Chief Operating Officer Joe Serbun - Senior Vice President and Chief Credit Officer Conference Call Participants Joe Fenech - Hovde Group Alex Twerdahl - Piper Sandler Erik Zwick - Boenning and Scattergood Russell Gunther ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . Commission file number 001-13695 Delaware 16-1213679 | --- | --- | --- | |-------------------------------------------------------------------------------------------------- ...

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |-------|---------------|-------|-------------------|-------|-------|-------|-------|-------|-------|-------|--------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | % Community | | | | | | | | | | | | | | | | | | | | | | | | | | | | BANK SYSTEM, INC. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | ...

Financial Data and Key Metrics Changes - Fourth quarter earnings were up nicely over 2018 but down from Q3, which is seasonally typical [4] - Full-year 2019 EPS excluding acquisition expenses and securities gains was up marginally over 2018 despite a $7 million-plus Durbin impact [6] - GAAP net income for full-year 2019 was $169.1 million, with fully diluted earnings per share of $3.23, compared to $168.6 million and $3.24 in 2018 [19] - For Q4 2019, GAAP net income was $42.9 million, representing a 5% increase over Q4 2018 and a 9.3% increase over Q3 2019 [21] Business Line Data and Key Metrics Changes - Organic consumer loan growth and non-municipal deposit growth were highlighted as strong points in Q4 [5] - Average loans in Q4 2019 were up 1.8% from Q3 and 9.3% from Q4 2018 [11] - The insurance business saw a 40% earnings improvement [7] - Non-interest revenues contributed 38.7% of total operating revenues during 2019 [29] Market Data and Key Metrics Changes - Average total deposits were up 8.9% year-over-year and 2% on a linked quarter basis [16] - The company’s Tier 1 leverage ratio was 10.80%, significantly above the well-capitalized regulatory standard [18] - Non-performing loans totaled $24.3 million or 0.35% of total loans, showing improvement from previous quarters [36] Company Strategy and Development Direction - The company plans to manage margin pressures while expecting the Steuben acquisition to be solidly additive [9] - The focus remains on organic growth and improving execution capabilities across all business lines [57] - The company aims to deploy considerable capital in a disciplined manner for ongoing shareholder benefit [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about strong operating momentum across all businesses heading into 2020 [9] - The effective tax rate for Q4 2019 was 17.1%, down from 20.7% in Q4 2018, attributed to increased tax benefits [35] - The company remains well-positioned for future growth, supported by strong asset quality and capital reserves [42] Other Important Information - The company successfully integrated the Kinderhook transaction and announced the Steuben transaction, expected to close in May [8][39] - Total operating expenses increased by 7.8% over Q4 2018, driven by higher salaries and employee benefits [29][30] - The company recorded a $2.9 million provision for loan losses in Q4 2019, up from previous quarters [34] Q&A Session Summary Question: Expectations for margin stability - Management anticipates the margin to be stable in the mid- to high 3.60% range if there are no further Fed rate cuts [48] Question: Loan growth expectations for 2020 - The company expects loan growth to be similar to 2019, with a strong pipeline indicating potential for improvement [56] Question: Operating expenses outlook - The core run rate for operating expenses is expected to be around $93 million to $94 million, with some volatility anticipated [59] Question: Provision for loan losses in 2020 - Management does not expect significant changes in provisioning, maintaining a similar approach to pre-CECL levels [62] Question: CECL impact disclosure - The company is in the process of evaluating the CECL impact, with preliminary estimates indicating a slight decrease in the previously disclosed range [72]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from___________________to___________________ Commission File Number: 001-13695 (Exact name of registrant as specified in its charter) Delaware (State or other jurisdictio ...

Community Bank System, Inc. (NYSE:CBU) Q3 2019 Results Earnings Conference Call October 21, 2019 11:00 AM ET Company Participants Mark Tryniski - President, Chief Executive Officer Joseph Sutaris - Executive Vice President, Chief Financial Officer Conference Call Participants Alex Twerdahl - Sandler O'Neill Russell Gunther - Davidson Collyn Gilbert - KBW Erik Zwick - Boenning & Scattergood Operator Welcome to the Community Bank System, Third Quarter 2019 Earnings Conference Call. Please note that this prese ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from__________to___________________ Commission File Number: 001-13695 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or o ...

Community Bank System, Inc. (NYSE:CBU) Q2 2019 Earnings Conference Call July 22, 2019 11:00 AM ET Company Participants Mark Tryniski - President, Chief Executive Officer Joseph Sutaris - Executive Vice President, Chief Financial Officer Conference Call Participants Austin Nicholas - Stephens Russell Gunther - D.A. Davidson Erik Zwick - Boenning & Scattergood Brody Preston - Piper Jaffray Collyn Gilbert - KBW Operator Welcome to the Community Bank System, Second Quarter 2019 Earnings Conference Call. Please ...