Community Bank System (CBU) Tops Q2 EPS by 1c
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Community Bank System, Inc. Reports Second Quarter 2022 Results
July 25, 2022 6:45 AM EDTSYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) reported second quarter 2022 net income of $39.8 million, or $0.73 per fully-diluted share. This compares to $47.9 million of net income, or $0.88 per fully-diluted share for the second quarter of 2021. The $0.15, or 17.0%, decrease in earnings per share was primarily attributable to increases in the provision for credit losses and operating expenses, offset, in part, by increases in net interest income and noninterest revenues and decreases in income taxes and fully-diluted shares outstanding. Comparatively, the Company recorded $0.86 in fully-diluted earnings per share for the linked first... More
