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Dec 31, 2019
Community Bank Q4 2019 Earnings Report
Reported fourth quarter and full year results, marked by revenue growth and improved earnings.
Key Takeaways
Community Bank System reported a solid fourth quarter in 2019, with net income of $42.9 million and EPS of $0.82. Total revenues for the quarter were $149.9 million, a 5.8% increase over the same period in 2018.
Net income for Q4 2019 was $42.9 million, with fully diluted earnings per share at $0.82.
Total revenues for Q4 2019 increased by 5.8% to $149.9 million compared to Q4 2018.
Net interest income rose by 6.1% due to an increase in average earning assets.
The company's asset quality metrics remained strong and consistent.
Community Bank
Community Bank
Community Bank Revenue by Segment
Revenue by Segment
Non-Bank Noninterest Revenues Revenue
CapyFin.com Forward Guidance
The acquisition is expected to close during the second quarter of 2020, pending both customary regulatory and Steuben shareholder approval. The acquisition is expected to be approximately $0.08 to $0.09 per share accretive to its first full year of GAAP earnings and $0.09 to $0.10 per share accretive to cash earnings, excluding any one-time transaction costs.
Positive Outlook
- Expected to be $0.08 to $0.09 per share accretive to its first full year of GAAP earnings.
- Expected to be $0.09 to $0.10 per share accretive to cash earnings, excluding any one-time transaction costs.
- Extends the Company’s footprint into two new counties in Western New York State.
- Enhance the Company’s presence in four Western New York State counties in which it currently operates.
- Adds 15 branch locations.
Challenges Ahead
- Subject to customary regulatory approval.
- Subject to Steuben shareholder approval.
- Impacted by one-time transaction costs.
- Integration risks.
- Changes in economic conditions, interest rates and financial markets