Community Bank System (CBU) Tops Q2 EPS by 10c

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Go back to Community Bank System (CBU) Tops Q2 EPS by 10c

Community Bank System Reports Record Second Quarter 2018 Results

July 23, 2018 6:45 AM EDT

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) reported record second quarter 2018 net income of $44.6 million or $0.86 per share on a fully diluted basis. This compares to $17.2 million in net income or $0.35 per share reported for the second quarter of 2017. Excluding $22.9 million of acquisition expenses, second quarter 2017 fully diluted earnings per share were $0.67, resulting in a $0.19 per share, or 28.4%, increase between comparable second quarters. On a linked quarter basis, fully-diluted earnings per share increased $0.08 or 10.3%.

Second Quarter 2018 Performance Highlights:

EPS of $0.86 are up 28.4% over the second quarter of 2017,... More