Community Financial System Inc Stock Price, News & Analysis

Community Bank System, Inc. (NYSE: CBU) has declared a quarterly cash dividend of $0.44 per share, payable on October 10, 2022 to shareholders of record as of September 15, 2022. This represents a $0.01 increase or 2.33%, with an annualized yield of 2.71% based on the closing share price of $64.88 on July 19, 2022. The company marks its 30th consecutive year of dividend increases, reflecting strong operating performance and confidence in future growth.

Community Bank System, Inc. (NYSE: CBU) has formed a strategic partnership with Jacobi Capital Management to offer investment advisory services to commercial and high net worth clients in Pennsylvania. This collaboration aims to enhance client experiences through shared values and aligned objectives. Mark E. Tryniski, CEO of Community Bank, expressed enthusiasm for the partnership, highlighting Jacobi's capabilities as beneficial for their clients. Jacobi's CIO, Michael J. Hirthler, praised the shared commitment to helping clients achieve their financial goals.

Community Bank System, Inc. (NYSE: CBU) will host an earnings conference call on July 25, 2022, at 11:00 a.m. Eastern Time to discuss its second quarter financial and operational performance. The company will release its results prior to the market opening on the same day. The call will feature insights from CEO Mark E. Tryniski and CFO Joseph E. Sutaris, followed by a Q&A session. Details on accessing the call via dial-in and webcast are provided. The company, with assets over $15.6 billion, operates over 220 facilities across several states.

Community Bank System, Inc. (NYSE: CBU) has announced a quarterly cash dividend of $0.43 per share for its common stock, payable on July 11, 2022, to shareholders of record as of June 15, 2022. This dividend offers an annualized yield of 2.68%, based on the closing share price of $64.23 on May 17, 2022. Additionally, at its Annual Shareholders’ Meeting on May 18, 2022, all board members were re-elected, and key proposals regarding executive compensation and the Long-Term Incentive Plan were approved.

Community Bank System (NYSE: CBU) has successfully completed its acquisition of Elmira Savings Bank (NASDAQ-CM: ESBK) on May 13, 2022, in an all-cash deal valued at approximately $82.8 million. This merger expands Community Bank's footprint by adding eight new branches across Central New York and the Southern Tier, bringing its total assets to over $16.2 billion and deposits exceeding $13.8 billion. Elmira's shareholders will receive $23.10 per share as part of the transaction.

Community Bank System reported a first quarter 2022 net income of $47.1 million, or $0.86 per share, down from $52.9 million and $0.97 per share in the previous year. The decline was mainly due to increased provisions for credit losses and operating expenses, partially offset by growth in net interest income and noninterest revenues. The company's operating EPS was $0.87, compared to $0.97 in Q1 2021. Notably, total revenues rose 5.3% to $160.5 million, with strong contributions from noninterest income sources.

Community Bank System, Inc. (NYSE: CBU) has received regulatory approvals for the merger with Elmira Savings Bank, expected to close on May 13, 2022. The all-cash transaction is valued at approximately $82.8 million and aims to enhance market presence in Central New York and Southern Tier markets. The merger will integrate operations and customer service offerings. Elmira Savings Bank holds assets of $632.2 million and is focused on personalized banking services.

Community Bank System, Inc. (NYSE: CBU) has announced its upcoming earnings conference call to discuss the first quarter 2022 results. The call is scheduled for April 25, 2022, at 11:00 a.m. ET, following the release of the financial results before the market opens on the same day. Management, including President Mark E. Tryniski and CFO Joseph E. Sutaris, will provide insights on performance and take questions from investors. The conference call can be accessed via dial-in or online webcast.

Community Bank System, Inc. (NYSE: CBU) has declared a quarterly cash dividend of $0.43 per share, payable on April 11, 2022, to shareholders of record as of March 15, 2022. This dividend represents an annualized yield of 2.35% based on the closing share price of $73.29 on February 15, 2022. The bank operates over 215 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts, holding assets exceeding $15.5 billion.