STOCK TITAN
  1. Home
  2. News
  3. CBU

Community Financial System, Inc. - CBU STOCK NEWS

Welcome to our dedicated page for Community Financial System news (Ticker: CBU), a resource for investors and traders seeking the latest updates and insights on Community Financial System stock.

Community Financial System, Inc. (CBU), headquartered in DeWitt, NY, is a registered bank holding company with an expansive network of approximately 180 customer facilities throughout upstate New York. Operating predominantly as Community Bank, N.A., the company serves a diverse clientele, including retail, commercial, and municipal customers, particularly in non-metropolitan areas such as small towns in upstate New York and Northeastern Pennsylvania. With total assets amounting to $7.4 billion, Community Financial System, Inc. positions itself as a significant player in the regional banking sector.

The company’s diverse portfolio includes several wholly-owned subsidiaries. BPAS (Benefit Plans Administrative Services) is an employee benefits administration and consulting firm with offices in multiple locations, including upstate New York, Pittsburgh, Philadelphia, Houston, and Puerto Rico. CBNA Insurance Agency offers insurance services through its offices in three northern New York communities. Community Investment Services functions as a broker-dealer, delivering a suite of financial products across the company's branch network. Additionally, Nottingham Advisors, a wealth management and advisory firm, extends its services through its offices in Buffalo, NY, and North Palm Beach, FL.

Community Financial System, Inc. has demonstrated a solid growth trajectory, leveraging both organic growth and strategic acquisitions. A significant portion of its loan portfolio is consumer-focused, encompassing installment loans, lines of credit, and residential mortgage loans. This consumer-centric approach has helped the company build a robust financial foundation and maintain a steady performance.

In recent developments, Community Financial System, Inc. has been involved in innovative financial solutions that enhance retirement readiness. For instance, it recently partnered with key industry leaders to introduce a new target date series designed to provide lifetime income and growth opportunities for retirees. This initiative underscores the company’s commitment to addressing the retirement income crisis by offering innovative, participant-focused investment products.

Moreover, Community Financial System, Inc. continues to expand its services and partnerships to better serve its customers and enrich their financial well-being. This commitment to innovation and customer service makes it a reputable and reliable choice for banking and financial services in the regions it operates.

News

Community Bank System, Inc. Reports First Quarter 2024 Results

Rhea-AI Summary
Community Bank System, Inc. (CBU) reported strong first quarter 2024 results with a net income of $40.9 million, or $0.76 per share, showing significant growth from the previous year. Total revenues reached a new quarterly record of $177.3 million, marking a 42.4% increase. Total financial services revenues also hit a new high at $52.0 million. Despite a decrease in operating net income, the company saw growth in total loans and deposits. The Tier 1 leverage ratio remains strong at 9.01%.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.27%
Tags
earnings
-
News

Community Bank System Announces First Quarter 2024 Earnings Conference Call

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) will hold an Earnings Conference Call to discuss its first quarter 2024 financial and operating performance on April 23, 2024. The call will feature President and CEO Dimitar Karaivanov and CFO Joseph E. Sutaris presenting the results. Investors can join via conference call or webcast.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.07%
Tags
earnings
-
News

Community Bank System, Inc. Announces Its Quarterly Dividend

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) declares a quarterly cash dividend of $0.45 per share, with a 4.16% annualized yield. The company, with total assets of $15.6 billion, operates in banking, benefits administration, insurance services, and wealth management across several states.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.61%
Tags
dividends
News

Community Bank System, Inc. Reports Fourth Quarter And Full Year 2023 Results

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) reported a decline in net income for the fourth quarter and full year of 2023 compared to the prior year. However, the company achieved a new quarterly record for total revenues and experienced growth in total financial services revenues. Despite a decrease in ending deposits, the company saw an increase in ending loans. The annualized loan net charge-offs remained low, and the Tier 1 leverage ratio improved. The company's investor call to discuss the results will be held on January 23, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.14%
Tags
earnings
-
News

Community Bank System, Inc. Elects Michele Sullivan as New Independent Director

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) announced the election of Michele Sullivan as a new independent director to its Board of Directors, effective February 1, 2024. Ms. Sullivan, a retired partner of Crowe LLP, brings over 30 years of financial industry experience, specializing in risk, compliance, internal audit, technology, strategic acquisitions, merger integration, and governance matters. Her appointment reflects the Board’s focus on enhancing experience and diversity. Ms. Sullivan will serve on the Board’s Audit Committee and Risk Committee, bringing valuable expertise to the Company and its subsidiaries.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.66%
Tags
none
-
News

Community Bank System Announces Fourth Quarter and Full Year 2023 Earnings Conference Call

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) will hold an Earnings Conference Call to discuss its financial and operating performance for the fourth quarter and full year ended December 31, 2023 on Tuesday, January 23, 2024 at 11:00 a.m. Eastern Time. The call will be led by incoming President and CEO Dimitar Karaivanov and CFO Joseph E. Sutaris. The company's results for the quarter will be released before the market opens on January 23, 2024, and will also be available on the company's website. The call will be archived on the website for one year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.5%
Tags
earnings
News

Community Bank System, Inc. Announces Its Quarterly Dividend

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) declares a quarterly cash dividend of $0.45 per share on its common stock, representing an annualized yield of 4.01%. The dividend will be payable on January 10, 2024, to shareholders of record as of December 15, 2023. The company is a diversified financial services firm with total assets of $15.4 billion, operating in banking, benefits administration, insurance services, and wealth management. Its banking subsidiary, Community Bank, N.A., is among the country’s 100 largest banking institutions with over 200 customer facilities across multiple states.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.71%
Tags
dividends
-
News

Transamerica Teams with State Street Global Advisors to Help More Americans Become Retirement Ready

Rhea-AI Summary
Transamerica (ARS) joins industry leaders to offer innovative target date series providing lifetime income, with a focus on retirement readiness and addressing the retirement income crisis.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.43%
Tags
none
-
News

Community Bank System, Inc. Reports Third Quarter 2023 Results

Rhea-AI Summary
Community Bank System, Inc. (NYSE: CBU) reported third quarter 2023 results. Net income was $44.1 million, down $4.6 million from the prior year. Total ending loans were $9.45 billion, up 3.0% from the prior quarter. Total ending deposits were $13.03 billion, up 1.2% from the prior quarter. Total Financial Services revenues were $50.0 million, a new quarterly record. Annualized Loan Net Charge-Offs were 0.05% in the quarter. Tier 1 Leverage Ratio was 9.44%, up 0.09 percentage points.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.44%
Tags
earnings
News

Community Bank System Announces Third Quarter 2023 Earnings Conference Call

Rhea-AI Summary
Community Bank System, Inc. to hold earnings conference call for Q3 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.03%
Tags
earnings

FAQ

What is the current stock price of Community Financial System (CBU)?

The current stock price of Community Financial System (CBU) is $67.85 as of November 20, 2024.

What is the market cap of Community Financial System (CBU)?

The market cap of Community Financial System (CBU) is approximately 3.6B.

What is Community Financial System, Inc.?

Community Financial System, Inc. (CBU) is a registered bank holding company based in DeWitt, NY, operating through subsidiaries such as Community Bank, N.A., BPAS, CBNA Insurance Agency, Community Investment Services, and Nottingham Advisors.

What services does Community Bank, N.A. provide?

Community Bank, N.A. offers a wide range of banking and financial services to retail, commercial, and municipal customers, focusing mainly on non-metropolitan markets in upstate New York and Northeastern Pennsylvania.

Who are the other subsidiaries of Community Financial System, Inc.?

The company's other subsidiaries include BPAS, CBNA Insurance Agency, Community Investment Services, and Nottingham Advisors, offering services like benefits administration, insurance, investment products, and wealth management.

How does Community Financial System, Inc. grow its business?

The company grows its business through a combination of organic growth and strategic acquisitions, focusing on expanding its service offerings and customer base.

What is the economic focus of Community Financial System, Inc.'s loan portfolio?

A majority of the company's loan portfolio is consumer-focused, including installment loans, lines of credit, and residential mortgage loans.

What recent initiatives has Community Financial System, Inc. undertaken?

Recently, the company partnered with industry leaders to introduce a target date series aimed at providing lifetime income and growth opportunities for retirees.

Where are Community Financial System, Inc.'s subsidiaries located?

The subsidiaries have offices in various locations, such as upstate New York, Pittsburgh, Philadelphia, Houston, Puerto Rico, Buffalo, NY, and North Palm Beach, FL.

What types of customers does Community Financial System, Inc. serve?

The company serves a broad spectrum of customers, including retail, commercial, and municipal clients, particularly in non-metropolitan areas.

Is Community Financial System, Inc. involved in any innovative financial solutions?

Yes, the company has launched innovative financial products, such as a new target date series designed to provide lifetime income and growth opportunities for retirees.

How significant is Community Financial System, Inc. in the regional banking sector?

With assets totaling $7.4 billion and approximately 180 customer facilities, Community Financial System, Inc. is a significant player in the regional banking sector, particularly in upstate New York and Northeastern Pennsylvania.

Stock CBU logo
Community Financial System, Inc.

NYSE:CBU

CBU Rankings

#1545 Ranked by Market Cap
#1154 Ranked by Dividends

CBU Stock Data

3.57B
51.88M
1.29%
72.63%
2.25%
Banks - Regional
National Commercial Banks
Link
United States of America
DEWITT