Community Bank System, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 24, 2023 at 08:36 am EDT
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Community Bank System, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 107.79 million compared to USD 110.39 million a year ago. Net income was USD 44.13 million compared to USD 48.69 million a year ago. Basic earnings per share from continuing operations was USD 0.82 compared to USD 0.9 a year ago. Diluted earnings per share from continuing operations was USD 0.82 compared to USD 0.9 a year ago.
For the nine months, net interest income was USD 328.1 million compared to USD 308.41 million a year ago. Net income was USD 98.22 million compared to USD 135.55 million a year ago. Basic earnings per share from continuing operations was USD 1.82 compared to USD 2.51 a year ago. Diluted earnings per share from continuing operations was USD 1.82 compared to USD 2.49 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. 
