Community Bank System, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
January 23, 2024 at 09:34 am EST
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Community Bank System, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported net interest income was USD 109.19 million compared to USD 112.22 million a year ago. Net income was USD 38.29 million compared to USD 52.53 million a year ago. Basic earnings per share from continuing operations was USD 0.71 compared to USD 0.97 a year ago. Diluted earnings per share from continuing operations was USD 0.71 compared to USD 0.97 a year ago.
For the full year, net interest income was USD 437.29 million compared to USD 420.63 million a year ago. Net income was USD 136.51 million compared to USD 188.08 million a year ago. Basic earnings per share from continuing operations was USD 2.54 compared to USD 3.48 a year ago. Diluted earnings per share from continuing operations was USD 2.53 compared to USD 3.46 a year ago.
Community Bank System, Inc. is a financial holding company. The Company operates as a diversified financial services enterprise providing an array of banking and other financial services to retail, commercial, institutional and municipal customers. It owns two subsidiaries: Community Bank, N.A. and Benefit Plans Administrative Services, Inc. (BPAS). Its segments include Banking, Employee Benefit Services and All Other. The Banking segment provides an array of lending and depository-related products and services to individuals, businesses and governmental units. The Banking segment provides treasury management solutions and payment processing services. Its Employee Benefit Services segment comprises BPAS and its subsidiaries, provides collective investment fund, retirement plan and health savings account administration, fund administration, transfer agency, actuarial, and health and welfare consulting services. The All Other segment comprises wealth management and insurance services.
COMMUNITY BANK SYSTEM, INC. 
