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Stock impact report

Community Bank System Reports First Quarter 2019 Results

Community Bank System, Inc. (CBU) 
Last community bank system, inc. earnings: 4/20 06:45 am Check Earnings Report
US:NYSE Investor Relations: ir.communitybanksystem.com
Company Research Source: Business Wire
SYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE:CBU) reported first quarter 2019 net income of $41.9 million, or $0.80 per fully diluted share. This compares to $40.1 million of net income, or $0.78 per share reported for the first quarter of 2018. The $0.02 increase in earnings per share was attributable to an increase in net interest income and decreases in the provision for loan losses and income taxes, offset in part by a decrease in bank noninterest revenues, higher operating expenses and an increase in fully-diluted shares outstanding. Comparatively, the Company recorded $0.78 in fully diluted earnings per share for the linked fourth quarter of 2018. Operating earnings per share, which excludes acquisition expenses and unrealized gain on equity securities, were $0.81 for the first quarter of 2019, a $0.03 improvement over the first quarter 2018 operating earnings per share. Firs Show less Read more
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