New York bank settles wage dispute with a $5.8 million payout [Yahoo! Finance]
Community Bank System, Inc. (CBU)
Last community bank system, inc. earnings: 4/20 06:45 am
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Source: Yahoo! Finance
The $15.6 billion-asset Community Bank System disclosed its payout plans last week in a filing with the Securities and Exchange Commission. Though the company expects to execute the settlement during the first quarter of 2024, it is treating the expense as a subsequent event for accounting purposes, thus including it in a revised fourth-quarter earnings statement. The payout reduced profits for the three months ending December 31 from the originally reported $38.3 million to a revised total of $33.7 million. Full year 2023 net income was revised downward to $131.9 from the original $136.5 million. Hovde Analyst Nick Cucharale, who gave Community Bank System an "Outperform" rating in a January 23 research note, said Friday in an email to American Banker that he views the settlement as a one-time event. According to the February 9 8-K filing, Community Bank System does not anticipate any additional costs beyond the $5.8 million settlement. A Community Bank System spokesman did no
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CBU
News
- Community Bank System First Quarter 2024 Earnings: EPS Misses Expectations [Yahoo! Finance]Yahoo! Finance
- Community Bank System, Inc. (NYSE:CBU) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Community Bank System, Inc. Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- Community Bank System, Inc. Reports First Quarter 2024 ResultsBusiness Wire
- In the wake of Community Bank System, Inc.'s (NYSE:CBU) latest US$118m market cap drop, institutional owners may be forced to take severe actions [Yahoo! Finance]Yahoo! Finance
CBU
Earnings
- 4/23/24 - Miss
CBU
Sec Filings
- 4/23/24 - Form 8-K
- 4/16/24 - Form 4
- 3/29/24 - Form ARS
- CBU's page on the SEC website