Community Bank System (CBU) Misses Q4 EPS by 1c

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Go back to Community Bank System (CBU) Misses Q4 EPS by 1c

Community Bank System, Inc. Reports Fourth Quarter and Full Year 2021 Results

January 24, 2022 6:45 AM EST

SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) (the Company) reported fourth quarter 2021 net income of $43.6 million, or $0.80 per fully-diluted share. This compares to $46.5 million of net income, or $0.86 per fully-diluted share for the fourth quarter of 2020. The $0.06, or 7.0%, decrease in earnings per share was driven by increases in the provision for credit losses, operating expenses, income taxes and fully-diluted shares outstanding, partially offset by increases in net interest income and noninterest revenues. Comparatively, the Company recorded $0.83 in fully-diluted earnings per share for the linked third quarter of 2021. Operating diluted... More