Community Bank System (CBU) Tops Q1 EPS by 3c

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Go back to Community Bank System (CBU) Tops Q1 EPS by 3c

Community Bank System Reports First Quarter 2020 Results and COVID-19 Pandemic Response

April 20, 2020 6:45 AM EDT

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) reported first quarter 2020 net income of $40.1 million, or $0.76 per fully-diluted share. This compares to $41.9 million of net income, or $0.80 per share for the first quarter of 2019. The $0.04 decrease in earnings per share were primarily attributable to increases in the provision for credit losses, operating expenses and fully-diluted shares outstanding, offset in part by increases in net interest income, noninterest revenues and a decrease in income taxes. Comparatively, the Company recorded $0.82 in fully-diluted earnings per share for the linked fourth quarter of 2019.... More