Community Bank Q4 2024 Earnings Report

Community Financial System, Inc. reported a net income of $49.8 million, or $0.94 per share, for the fourth quarter of 2024. The company's operating net income, a non-GAAP measure, was $52.9 million, or $1.00 per share, for the same period. The increase in earnings per share was driven by increases in net interest income and noninterest revenues and decreases in noninterest expenses and the number of fully diluted shares outstanding, partially offset by increases in the provision for credit losses and income taxes.