Financial Performance - Fourth quarter net income was $49.8 million, or $0.94 per share, an increase of $0.31 per share from the prior year's fourth quarter [4]. - Full year net income reached $182.5 million, or $3.44 per share, up $0.99 per share from the previous year [8]. - Fourth quarter total revenues were $196.3 million, a record high, increasing by $19.3 million, or 10.9%, year-over-year [4]. - Full year total revenues amounted to $746.3 million, an increase of $94.2 million, or 14.4%, from the prior year [4]. - Operating pre-tax, pre-provision net revenue (PPNR) for the fourth quarter was $74.3 million, or $1.40 per share, an increase of $0.27 per share from the prior year's fourth quarter [4]. - Full year operating PPNR was $273.6 million, or $5.15 per share, up $0.39 per share from the previous year [4]. - The Company reported a net income of $49.8 million, or $0.94 per share, for Q4 2024, compared to $33.7 million, or $0.63 per share, in Q4 2023, reflecting a $0.31 increase in earnings per share [15]. - Net income for Q4 2024 was $49,793, representing a 47.8% increase from $33,706 in Q4 2023 [34]. - Basic earnings per share for Q4 2024 increased to $0.94, up from $0.63 in Q4 2023, a growth of 49.2% [34]. - Total noninterest revenues for Q4 2024 were $76,314, a 12.6% increase from $67,769 in Q4 2023 [34]. Revenue and Income Sources - Fourth quarter net interest income was $120.0 million, up $10.8 million, or 9.9%, from the same quarter last year [4]. - Net interest income for Q4 2024 was $120.0 million, up $10.8 million, or 9.9%, from Q4 2023, and up $7.2 million, or 6.4%, from Q3 2024 [17]. - The net interest margin for Q4 2024 was 3.17%, an increase of 12 basis points from Q4 2023, driven by higher yields on interest-earning assets [17]. - Noninterest revenues from banking and financial services accounted for 38.8% of total revenues in Q4 2024 [18]. - Loan income for Q4 2024 reached $144,638, an increase of 18.1% compared to $122,392 in Q4 2023 [33]. - Total interest income for the year-to-date 2024 was $643,528, up 18.9% from $541,388 in 2023 [33]. Expenses and Efficiency - Total noninterest expenses decreased by $3.6 million, or 2.8%, to $125.5 million in Q4 2024 compared to Q4 2023, primarily due to non-operating expenses in the prior year [21]. - Total noninterest expenses decreased to $125,539 in Q4 2024 from $129,091 in Q4 2023, a reduction of 2.0% [34]. - The efficiency ratio (GAAP) improved to 64.0% in Q4 2024 from 72.9% in Q4 2023 [34]. - The efficiency ratio (GAAP) improved to 64.0% in Q4 2024 from 72.9% in Q4 2023, reflecting better cost management [42]. Assets and Liabilities - The Company's total assets were $16.39 billion at December 31, 2024, representing a $830.3 million, or 5.3%, increase from the previous year [21]. - Total ending loans reached $10.43 billion, increasing by $727.8 million, or 7.5%, from the end of the prior year [4]. - Total ending deposits were $13.44 billion, a decrease of $34.5 million, or 0.3%, from the previous quarter but an increase of $513.6 million, or 4.0%, year-over-year [4]. - Ending loans at December 31, 2024 were $10.43 billion, an increase of $180.7 million, or 1.8%, from the previous quarter and $727.8 million, or 7.5%, year-over-year [5]. - The allowance for credit losses totaled $79.1 million, or 0.76% of total loans, up from $66.7 million, or 0.69%, one year prior [5]. - Shareholders' equity was $1.76 billion, up $64.9 million, or 3.8%, year-over-year, but down $22.1 million, or 1.2%, from the previous quarter [26]. Capital and Ratios - The Tier 1 leverage ratio stood at 9.19%, significantly exceeding the regulatory well-capitalized standard of 5.0% [4]. - The Company's tier 1 leverage ratio was 9.19% at December 31, 2024, remaining above the regulatory well-capitalized standard of 5.0% [25]. - Return on assets (GAAP) for Q4 2024 was 1.21%, up from 0.87% in Q4 2023 [34]. - Return on equity (GAAP) increased to 11.27% in Q4 2024, up from 8.53% in Q4 2023, showing a significant improvement [39]. - Return on tangible equity (non-GAAP) for Q4 2024 was 21.97%, up from 18.75% in Q4 2023, showcasing enhanced profitability [42]. - Operating return on equity (non-GAAP) for Q4 2024 was 11.99%, compared to 11.10% in Q4 2023, indicating improved operational efficiency [39]. Dividends and Shareholder Returns - The quarterly cash dividend was increased to $0.46 per share, representing an annualized yield of 2.9% based on the stock price of $63.26 [26]. - The Company approved a stock repurchase program for up to 2.63 million shares, or 5.0% of outstanding common stock, starting January 1, 2025 [26]. - Cash dividends declared per common share remained stable at $0.46 in Q4 2024, consistent with Q4 2023 [37]. - The common stock price at quarter-end rose to $61.68 in Q4 2024, up from $52.11 in Q4 2023, reflecting a growth of 18.3% [37]. Credit Quality - Total delinquent loans as a percentage of total loans outstanding was 1.24% at the end of 2024, compared to 1.06% at the end of 2023 [5]. - Nonperforming loans increased to $73,387 thousand in Q4 2024 from $54,573 thousand in Q4 2023, indicating a rise of 34.3% [37]. - Provision for credit losses in Q4 2024 was $6,208, compared to $4,073 in Q4 2023, reflecting a 52.5% increase [33]. - The allowance for credit losses as a percentage of loans outstanding was 0.76% in Q4 2024, up from 0.69% in Q4 2023 [37].

分组1 - Community Financial System (CBU) reported quarterly earnings of $0.94 per share, exceeding the Zacks Consensus Estimate of $0.90 per share, and up from $0.76 per share a year ago, representing an earnings surprise of 4.44% [1] - The company posted revenues of $197.17 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.92%, compared to year-ago revenues of $178 million [2] - Community Financial has outperformed the market with a 2.6% increase in shares since the beginning of the year, compared to the S&P 500's gain of 2% [3] 分组2 - The current consensus EPS estimate for the coming quarter is $0.92 on revenues of $195.89 million, and for the current fiscal year, it is $4 on revenues of $824.49 million [7] - The Zacks Industry Rank for Financial - Miscellaneous Services is in the top 34% of over 250 Zacks industries, indicating a favorable outlook for the industry [8] - The estimate revisions trend for Community Financial is currently favorable, resulting in a Zacks Rank 2 (Buy) for the stock, suggesting it is expected to outperform the market in the near future [6]

Core Insights - Analysts project Community Financial System (CBU) to announce quarterly earnings of $0.90 per share, an increase of 18.4% year over year, with revenues expected to reach $193.45 million, up 8.7% from the same quarter last year [1] Earnings Estimates - There has been no revision in the consensus EPS estimate for the quarter over the last 30 days, indicating analysts' stable outlook [2] - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [3] Key Financial Metrics - Analysts expect the Efficiency ratio (GAAP) to be 64.5%, down from 69.7% in the same quarter last year [5] - The estimated Net Interest Margin is projected at 3.1%, unchanged from the year-ago figure [5] - Average Balances - Total interest-earning assets are expected to reach $14.94 billion, up from $14.22 billion in the same quarter last year [6] - Total Non-Interest Income is projected to be $76.20 million, compared to $67.77 million in the same quarter last year [6] - Deposit service and other banking fees are expected to reach $19.47 million, up from $18 million a year ago [7] - Fully tax-equivalent net interest income is forecasted at $118.16 million, compared to $110.23 million in the previous year [7] - Employee benefit services are projected to reach $33.59 million, up from $30.02 million last year [7] Stock Performance - Over the past month, Community Financial shares have recorded a return of -5.6%, compared to the Zacks S&P 500 composite's -3.3% change, indicating a performance that aligns with the overall market [8]

Community Financial System (CBU) could be a solid addition to your portfolio given its recent upgrade to a Zacks Rank #1 (Strong Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.I ...

SYRACUSE, N.Y., Dec. 19, 2024 (GLOBE NEWSWIRE) -- Community Financial System, Inc. (NYSE: CBU) invites you to participate in a conference call to discuss the Company’s financial and operating performance during its fourth quarter and full year ended December 31, 2024. Event:Earnings Conference Call – Fourth Quarter 2024When:Tuesday, January 21, 2025 at 11:00 a.m. Eastern TimeHow:By conference call or from a simultaneous web castAccess:Conference Call Dial-In:1-833-630-0464 1-412-317-1809 – Outside the U.S. ...

Table of Contents 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, 2024 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) | --- | --- | |---------------------------------------- ...

Investors might want to bet on Community Financial System (CBU) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual ...

Group 1 - Community Financial System, Inc. (NYSE: CBU) is expected to see continued earnings growth driven by the reinvestment of fixed-rate loans [1] - Interest rate cuts and healthy business activity are anticipated to drive loan growth, which will subsequently enhance earnings [1] - The overall outlook suggests a positive trajectory for earnings as a result of these factors [1]

A downtrend has been apparent in Community Financial System (CBU) lately. While the stock has lost 5.8% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.The formation of a hammer pattern is considered a technical indication of nearing a bottom with likely subsiding of selling pressure. But this is not the only factor that makes a bullish ...

Community Bank System, Inc. (NYSE:CBU) Q3 2024 Earnings Conference Call October 22, 2024 11:00 AM ET Company Participants Dimitar Karaivanov - President and Chief Executive Officer Joseph Sutaris - Executive Vice President and Chief Financial Officer Conference Call Participants Matthew Breese - Stephens Inc Steve Moss - Raymond James Sharanjit Cheema - D.A. Davidson Christopher O'Connell - KBW Operator Good day and welcome to the Community Financial Systems Incorporated Third Quarter 2024 Earnings Conferen ...