Community Bank System (CBU) Tops Q3 EPS by 7c
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Community Bank System, Inc. Reports Third Quarter 2021 Results
October 25, 2021 6:45 AM EDTSYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) (the Company) reported third quarter 2021 net income of $45.3 million, or $0.83 per fully-diluted share. This compares to $42.8 million of net income, or $0.79 per fully-diluted share for the third quarter of 2020. The $0.04, or 5.1%, increase in earnings per share was primarily attributable to an increase in noninterest revenues, as well as a lower provision for credit losses, offset, in part, by a decrease in net interest income and increases in operating expenses, income taxes, and fully-diluted shares outstanding. Comparatively, the Company recorded $0.88 in fully-diluted... More
