Community Bank System (CBU) Tops Q3 EPS by 3c

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Go back to Community Bank System (CBU) Tops Q3 EPS by 3c

Community Bank System Reports Third Quarter 2018 Results

October 22, 2018 6:45 AM EDT

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) reported third quarter 2018 net income of $43.1 million and fully diluted earnings per share of $0.83. This compares to $35.2 million of net income or $0.68 per share for the third quarter of 2017. The $0.15, or 22.1%, increase in earnings per share was attributable to higher net interest income, higher noninterest revenues and a lower effective tax rate, offset in part by higher operating expenses and an increase in fully-diluted shares outstanding.

Excluding unrealized gains on equity securities, loss on debt extinguishment and acquisition expenses, third quarter 2018... More