Community Financial System, Inc. Reports Fourth Quarter and Full Year 2024 Results
Community Financial System (NYSE: CBU) reported strong financial results for Q4 and full year 2024. Q4 net income reached $49.8 million ($0.94 per share), up $0.31 year-over-year, while full-year net income hit $182.5 million ($3.44 per share), a $0.99 increase from 2023.
The company achieved record quarterly revenues of $196.3 million in Q4, up 10.9% year-over-year. Net interest income reached a new high of $120.0 million, marking the eighteenth consecutive year of growth. Financial services noninterest revenues set a quarterly record at $56.0 million.
Total loans grew to $10.43 billion, marking the fourteenth consecutive quarter of loan growth, while deposits reached $13.44 billion. The company maintains a strong Tier 1 leverage ratio of 9.19%, well above the regulatory requirement of 5.0%.
Community Financial System (NYSE: CBU) ha riportato risultati finanziari solidi per il quarto trimestre e l'intero anno 2024. Il reddito netto del quarto trimestre ha raggiunto 49,8 milioni di dollari (0,94 dollari per azione), in aumento di 0,31 dollari rispetto all'anno precedente, mentre il reddito netto dell'intero anno ha toccato 182,5 milioni di dollari (3,44 dollari per azione), con un incremento di 0,99 dollari rispetto al 2023.
L'azienda ha raggiunto un fatturato trimestrale record di 196,3 milioni di dollari nel quarto trimestre, con un aumento del 10,9% su base annua. Il reddito netto da interessi ha toccato un nuovo massimo di 120,0 milioni di dollari, segnando il diciottesimo anno consecutivo di crescita. I ricavi da servizi finanziari non provenienti da interessi hanno stabilito un record trimestrale a 56,0 milioni di dollari.
Il totale dei prestiti è cresciuto fino a 10,43 miliardi di dollari, segnando il quattordicesimo trimestre consecutivo di crescita dei prestiti, mentre i depositi hanno raggiunto 13,44 miliardi di dollari. L'azienda mantiene un forte rapporto di leva Tier 1 del 9,19%, ben al di sopra del requisito normativo del 5,0%.
Community Financial System (NYSE: CBU) reportó resultados financieros sólidos para el cuarto trimestre y el año completo 2024. El ingreso neto del cuarto trimestre alcanzó 49,8 millones de dólares (0,94 dólares por acción), aumentando 0,31 dólares en comparación con el año anterior, mientras que el ingreso neto del año completo alcanzó 182,5 millones de dólares (3,44 dólares por acción), un aumento de 0,99 dólares respecto a 2023.
La compañía logró ingresos trimestrales récord de 196,3 millones de dólares en el cuarto trimestre, un aumento del 10,9% en comparación con el año anterior. Los ingresos netos por intereses alcanzaron un nuevo récord de 120,0 millones de dólares, marcando el décimoctavo año consecutivo de crecimiento. Los ingresos por servicios financieros no relacionados con intereses establecieron un récord trimestral de 56,0 millones de dólares.
El total de préstamos creció hasta 10,43 mil millones de dólares, marcando el decimocuarto trimestre consecutivo de crecimiento de préstamos, mientras que los depósitos alcanzaron 13,44 mil millones de dólares. La compañía mantiene un sólido índice de apalancamiento de Tier 1 del 9,19%, muy por encima del requisito regulatorio del 5,0%.
커뮤니티 금융 시스템 (NYSE: CBU)은 2024년 4분기 및 연간 강력한 재무 실적을 보고했습니다. 4분기 순이익은 4,980만 달러 (주당 0.94 달러)에 달해, 작년 대비 0.31달러 증가했으며, 연간 순이익은 1억 8,250만 달러 (주당 3.44 달러)로, 2023년 대비 0.99달러 증가했습니다.
회사는 4분기 동안 분기별 매출 기록인 1억 9,630만 달러를 달성했으며, 이는 작년 대비 10.9% 증가한 수치입니다. 순이자 수익은 1억 2,000만 달러라는 새로운 최고치에 도달하며, 18년 연속 성장세를 기록했습니다. 비이자 금융 서비스 수익은 5,600만 달러로 분기별 기록을 세웠습니다.
총 대출은 1,043억 달러로 증가하여 14번째 분기 연속 대출 증가를 기록했으며, 예금은 1,344억 달러에 달했습니다. 회사는 규제 요구사항인 5.0%를 크게 초과하는 9.19%의 강력한 Tier 1 레버리지 비율을 유지하고 있습니다.
Community Financial System (NYSE: CBU) a annoncé des résultats financiers solides pour le quatrième trimestre et l'année complète 2024. Le revenu net du quatrième trimestre a atteint 49,8 millions de dollars (0,94 dollar par action), en hausse de 0,31 dollar par rapport à l'année précédente, tandis que le revenu net annuel a atteint 182,5 millions de dollars (3,44 dollars par action), soit une augmentation de 0,99 dollar par rapport à 2023.
L'entreprise a réalisé des revenus trimestriels record de 196,3 millions de dollars au quatrième trimestre, une augmentation de 10,9% par rapport à l'année précédente. Le revenu net d'intérêts a atteint un nouveau sommet de 120,0 millions de dollars, marquant la dix-huitième année consécutive de croissance. Les revenus des services financiers non liés aux intérêts ont établi un record trimestriel à 56,0 millions de dollars.
Le total des prêts a augmenté pour atteindre 10,43 milliards de dollars, marquant le quatorzième trimestre consécutif de croissance des prêts, tandis que les dépôts ont atteint 13,44 milliards de dollars. L'entreprise maintient un solide ratio de levier de Tier 1 de 9,19%, bien au-dessus de l'exigence réglementaire de 5,0%.
Community Financial System (NYSE: CBU) hat im 4. Quartal und im gesamten Jahr 2024 starke Finanzzahlen veröffentlicht. Der Nettogewinn im 4. Quartal belief sich auf 49,8 Millionen US-Dollar (0,94 US-Dollar pro Aktie), ein Anstieg um 0,31 US-Dollar im Vergleich zum Vorjahr, während der Nettogewinn für das Gesamtjahr 182,5 Millionen US-Dollar (3,44 US-Dollar pro Aktie) erreichte, was einem Anstieg von 0,99 US-Dollar im Vergleich zu 2023 entspricht.
Das Unternehmen erzielte im 4. Quartal Rekordumsätze von 196,3 Millionen US-Dollar, was einem Anstieg von 10,9% im Vergleich zum Vorjahr entspricht. Der Nettozinsüberschuss erreichte mit 120,0 Millionen US-Dollar einen neuen Höchststand und markierte das achtzehnte aufeinanderfolgende Jahr des Wachstums. Die nichtzinsbezogenen Einnahmen aus Finanzdienstleistungen stellten mit 56,0 Millionen US-Dollar einen Quartalsrekord auf.
Die Gesamtdarlehen stiegen auf 10,43 Milliarden US-Dollar und verzeichneten das vierzehnte aufeinanderfolgende Quartal mit Darlehenswachstum, während die Einlagen 13,44 Milliarden US-Dollar erreichten. Das Unternehmen hält ein starkes Tier-1-Leverage-Verhältnis von 9,19%, weit über der regulatorischen Anforderung von 5,0%.
- Record quarterly revenues of $196.3M, up 10.9% YoY
- Q4 net income increased $0.31 per share YoY to $0.94
- 18th consecutive year of net interest income growth
- 14th consecutive quarter of loan growth
- Strong Tier 1 leverage ratio at 9.19%
- Total loans increased 7.5% YoY to $10.43B
- Deposits grew 4.0% YoY to $13.44B
- Quarter-over-quarter deposit decrease of 0.3%
Insights
CBU delivered a stellar Q4 2024 performance with several notable achievements. Net income reached
The bank's core operations show robust health: net interest income hit a record
Key growth drivers include diversified revenue streams, with financial services noninterest revenues reaching
The earnings report reveals strong market positioning and execution. The consecutive quarterly loan growth streak (now at 14 quarters) indicates sustained business momentum and effective market penetration. The increase in financial services revenue, particularly in employee benefits, insurance and wealth management, suggests successful cross-selling strategies and diversification beyond traditional banking.
The operating PPNR of
Fourth Quarter and Full Year 2024 Performance Summary
-
Fourth quarter net income of
$49.8 million $0.94 $0.31 $0.11 $182.5 million $3.44 $0.99 -
Fourth quarter operating net income1 of
$52.9 million $1.00 $0.18 $0.12 $193.9 million $3.65 $0.08 -
Fourth quarter total revenues of
$196.3 million $19.3 million 10.9% , from the prior year’s fourth quarter and increased$7.3 million 3.9% , from the third quarter of 2024 while full year total revenues of$746.3 million $94.2 million 14.4% , from the prior year which included a$52.3 million -
Fourth quarter net interest income of
$120.0 million $10.8 million 9.9% , from the prior year’s fourth quarter and increased$7.2 million 6.4% , from the third quarter of 2024 while full year net interest income of$449.1 million $11.8 million 2.7% , from the prior year resulting in the eighteenth consecutive year of net interest income growth -
Fourth quarter total financial services (employee benefit services, insurance services and wealth management services) noninterest revenues of
$56.0 million $6.5 million 13.1% , from the prior year’s fourth quarter and increased$0.2 million 0.4% , from the third quarter of 2024 while full year financial services noninterest revenues of$217.9 million $20.9 million 10.6% , from the prior year -
Fourth quarter operating pre-tax, pre-provision net revenue (“PPNR”)1 of
$74.3 million $1.40 $0.27 $0.11 $273.6 million $5.15 $0.39 -
Total ending loans of
$10.43 billion $180.7 million 1.8% , from the end of the third quarter of 2024, marking the fourteenth consecutive quarter of loan growth, and increased$727.8 million 7.5% , from the end of the prior year -
Total ending deposits of
$13.44 billion $34.5 million 0.3% , from the end of the third quarter of 2024 and increased$513.6 million 4.0% , from the end of the prior year -
Tier 1 leverage ratio of
9.19% continues to substantially exceed the regulatory well-capitalized standard of5.0%
1Non-GAAP Measure. For more information on Non-GAAP measures refer to “Non-GAAP Measures” section along with the Quarterly GAAP to Non-GAAP Reconciliations included within the “Summary of Financial Data (unaudited)” tables included within the Company’s earnings release supplement.
Company management will conduct an investor call at 11:00 a.m. (ET) today, January 21, 2025, to discuss the fourth quarter and full year 2024 results. The conference call can be accessed at 1-833-630-0464 (1-412-317-1809 if outside
About Community Financial System, Inc.
Community Financial System, Inc. is a diversified financial services company that is focused on four main business lines – banking, employee benefit services, insurance services and wealth management services. Its banking subsidiary, Community Bank, N.A., is among the country’s 100 largest banking institutions with over
View source version on businesswire.com: https://www.businesswire.com/news/home/20250121544735/en/
Joseph E. Sutaris, EVP & Chief Financial Officer
Office: (315) 445-7396
Source: Community Financial System, Inc.
FAQ
What was Community Financial System's (CBU) Q4 2024 earnings per share?
How much did CBU's total loans grow in 2024?
What was CBU's net interest income for Q4 2024?
How did CBU's deposits perform in 2024?
What was CBU's Tier 1 leverage ratio in Q4 2024?
