- Total deposits reached $13.48 billion, up 2.6% quarter-over-quarter, surpassing the estimated $13.29 billion.
- Cash and cash equivalents soared to $346.1 million, a 72% increase from the previous quarter, exceeding the expected $194.2 million.
- Net interest income was $112.7 million, a 3% rise from last quarter, just shy of the $112.9 million expectation.
- Full-time equivalent net interest margin stands at 3.05%.
- Total loans grew to $10.25 billion, up 2.3% from last quarter, outperforming the estimate of $10.17 billion.
- Return on assets decreased to 1.09% compared to 1.16% year-over-year.
- Return on equity dropped to 10.2% from 10.9% year-over-year.
- Provision for credit losses increased significantly to $7.71 million, up from $2.88 million the previous year, and above the estimated $5.44 million.
- Analyst recommendations indicate 1 buy and 4 holds, with no sell ratings.
A look at Community Bank System Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 4 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Community Bank System, Inc. seems to have a promising long-term outlook according to the Smartkarma Smart Scores. The company scores high in key areas, with a top score of 5 in Momentum, indicating strong positive market momentum. Additionally, Community Bank System scores well in Dividend with a score of 4, showcasing a solid dividend payout policy. The company also demonstrates good performance in Value, Growth, and Resilience with scores of 3 in each category. This suggests that Community Bank System is well-positioned to provide value to its shareholders over the long term.
Community Bank System, Inc. is the holding company for Community Bank, N.A. The bank offers a wide range of commercial and retail banking services to various customer segments across its market areas. With operations spanning from northern New York to the southern tier, west to Lake Erie, and into northeastern Pennsylvania, Community Bank System has established a substantial presence in the region. This geographical diversity may help to mitigate risks and capitalize on opportunities within different markets, contributing to the company’s overall resilience and growth potential.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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