Community Bank System (CBU) Misses Q3 EPS by 3c
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Community Bank System, Inc. Reports Third Quarter 2022 Results
October 24, 2022 6:45 AM EDTSYRACUSE, N.Y.--(BUSINESS WIRE)-- Community Bank System, Inc. (NYSE: CBU) reported third quarter 2022 net income of $48.7 million, or $0.90 per fully-diluted share. This compares to $45.3 million of net income, or $0.83 per fully-diluted share for the third quarter of 2021. The $0.07, or 8.4%, increase in earnings per share was primarily attributable to increases in net interest income and noninterest revenues and a decrease in fully-diluted average shares outstanding, offset, in part, by higher operating expenses and increases in the provision for credit losses and income taxes. The increase in net interest income was driven by the... More
