Loading...
•
Sep 30, 2024
Community Bank Q3 2024 Earnings Report
Community Financial System, Inc. reported a net income of $43.9 million for the third quarter of 2024.
Key Takeaways
Community Financial System, Inc. reported a net income of $43.9 million, or $0.83 per fully diluted share, for the third quarter of 2024. Non-GAAP operating net income was $46.6 million, or $0.88 per fully diluted share.
Net income for Q3 2024 was $43.9 million, or $0.83 per fully diluted share.
Non-GAAP operating net income for Q3 2024 was $46.6 million, or $0.88 per fully diluted share.
The $0.01 increase in earnings per share was driven by increases in noninterest revenues and net interest income and a decrease in the number of fully diluted shares outstanding, partially offset by increases in noninterest expenses, the provision for credit losses and income taxes.
The company's financial position and liquidity profile remain strong, demonstrating the effectiveness of its strategic asset and liability management and prudent financial planning.