Community Bank System (CBU) Tops Q2 EPS by 6c

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Go back to Community Bank System (CBU) Tops Q2 EPS by 6c

Community Bank System Reports Second Quarter 2021 Results

July 26, 2021 6:45 AM EDT

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) reported second quarter 2021 net income of $47.9 million, or $0.88 per fully-diluted share. This compares to $35.2 million of net income, or $0.66 per share for the second quarter of 2020. The $0.22, or 33.3%, increase in earnings per share was primarily attributable to a significant decrease in the provision for credit losses and a significant increase in noninterest income, offset, in part, by increases in operating expenses, income taxes, and fully-diluted shares outstanding. Comparatively, the Company recorded $0.97 in fully-diluted earnings per share for the linked first quarter of... More