Community Financial System Management

Management criteria checks 4/4

Community Financial System's CEO is Dimitar Karaivanov, appointed in Jan 2024, has a tenure of less than a year. total yearly compensation is $1.33M, comprised of 40.8% salary and 59.2% bonuses, including company stock and options. directly owns 0.041% of the company’s shares, worth €1.47M. The average tenure of the management team and the board of directors is 2.4 years and 8.2 years respectively.

Key information

Dimitar Karaivanov

Chief executive officer

US$1.3m

Total compensation

CEO salary percentage	40.8%
CEO tenure	less than a year
CEO ownership	0.04%
Management average tenure	2.4yrs
Board average tenure	8.2yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Dimitar Karaivanov's remuneration changed compared to Community Financial System's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$166m
Jun 30 2024	n/a	n/a	US$166m
Mar 31 2024	n/a	n/a	US$166m
Dec 31 2023	US$1m	US$542k	US$131m
Sep 30 2023	n/a	n/a	US$150m
Jun 30 2023	n/a	n/a	US$155m
Mar 31 2023	n/a	n/a	US$146m
Dec 31 2022	US$1m	US$501k	US$188m
Sep 30 2022	n/a	n/a	US$179m
Jun 30 2022	n/a	n/a	US$175m
Mar 31 2022	n/a	n/a	US$183m
Dec 31 2021	US$2m	US$270k	US$189m

Compensation vs Market: Dimitar's total compensation ($USD1.33M) is below average for companies of similar size in the German market ($USD1.90M).

Compensation vs Earnings: Dimitar's compensation has been consistent with company performance over the past year.

CEO

Dimitar Karaivanov (42 yo)

less than a year

Tenure

US$1,330,312

Compensation

Mr. Dimitar A. Karaivanov serves as President, CEO & Director at Community Financial System, Inc. (formerly known as Community Bank System, Inc.) & Community Bank, National Association since January 01, 20...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Dimitar Karaivanov	President	less than a year	US$1.33m	0.041% € 1.5m
Joseph Sutaris	Executive VP	6.4yrs	US$1.13m	0.043% € 1.5m
Maureen Gillan-Myer	Executive VP & Chief Human Resources Officer and Administration officer	3.1yrs	US$848.44k	0.011% € 404.9k
Jeffrey Levy	Senior VP & Chief Banking Officer	2.8yrs	US$842.81k	0.023% € 802.3k
Deresa Durkee	Senior VP & Chief Accounting Officer	less than a year	no data	no data
Aaron Friot	Senior VP	7yrs	no data	no data
Dorothy Quarltere	Chief Compliance Officer	no data	no data	no data
Michael Abdo	Executive VP & General Counsel	2.4yrs	no data	0.013% € 464.2k
Daniel Bailey	Senior VP & Chief Risk Officer	1.6yrs	no data	no data
Michael Cerminaro	President & CEO of Wealth Management Division	1.4yrs	no data	no data
Danielle Cima	Corporate Secretary & Associate General Counsel	no data	no data	no data
Robert Frost	Vice President of Finance & Director of Financial Planning and Analysis	no data	no data	no data

2.4yrs

Average Tenure

55.5yo

Average Age

Experienced Management: CBY's management team is considered experienced (2.4 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Dimitar Karaivanov	President	less than a year	US$1.33m	0.041% € 1.5m
Eric Stickels	Independent Chair of the Board	8.9yrs	US$177.39k	0.094% € 3.3m
Susan Skerritt	Lead Independent Director	4yrs	US$139.39k	0.00072% € 25.6k
Sally Steele	Independent Director	21.8yrs	US$136.26k	0.075% € 2.7m
Mark Bolus	Independent Director	14.8yrs	US$147.39k	0.24% € 8.7m
Neil Fesette	Independent Director	14.8yrs	US$147.64k	0.020% € 721.4k
John Parente	Independent Director	14.8yrs	US$141.76k	0.13% € 4.6m
John Whipple	Independent Director	14.8yrs	US$149.07k	0.011% € 393.2k
Raymond Pecor	Independent Director	7.5yrs	US$144.39k	0.035% € 1.3m
Kerrie MacPherson	Independent Director	5yrs	US$145.20k	0.0057% € 201.2k
Jeffery Knauss	Independent Director	2.9yrs	US$140.64k	0.0040% € 143.4k
Michele Sullivan	Independent Director	less than a year	no data	0.00019% € 6.7k

8.2yrs

Average Tenure

59.5yo

Average Age

Experienced Board: CBY's board of directors are considered experienced (8.2 years average tenure).

Community Financial System Management

Management criteria checks 4/4

Key information

Recent management updates

Community Financial System, Inc. Appoints Savneet Singh as Independent Director, Effective October 1, 2024

Community Bank System, Inc., Annual General Meeting, May 15, 2024

Community Bank Appoints Dan Kennell as New Commercial Banking Officer

Community Bank System, Inc. Elects Michele Sullivan as Independent Director, Effective as of February 1, 2024

Community Bank Names Jeff Levy as New Chief Banking Officer

Insufficient new directors

Recent updates

Investor sentiment improves as stock rises 16%

Third quarter 2024 earnings released: EPS: US$0.83 (vs US$0.82 in 3Q 2023)

Second quarter dividend of US$0.46 announced

Community Financial System, Inc. Announces Quarterly Dividend on Common Stock, Payable on January 10, 2025

Community Financial System, Inc. Appoints Savneet Singh as Independent Director, Effective October 1, 2024

Community Financial System, Inc. to Report Q3, 2024 Results on Oct 22, 2024

Upcoming dividend of US$0.46 per share

Second quarter 2024 earnings released: EPS: US$0.91 (vs US$0.90 in 2Q 2023)

First quarter dividend of US$0.46 announced

Community Financial System, Inc. Announces Quarterly Dividend, Payable on October 10, 2024

Investor sentiment improves as stock rises 18%

Community Financial System, Inc. to Report Q2, 2024 Results on Jul 23, 2024

Upcoming dividend of US$0.45 per share

First quarter dividend of US$0.45 announced

Community Bank System, Inc. Declares Quarterly Dividend, Payable on July 10, 2024

First quarter 2024 earnings released: EPS: US$0.77 (vs US$0.11 in 1Q 2023)

Community Bank System, Inc., Annual General Meeting, May 15, 2024

Community Bank System, Inc. to Report Q1, 2024 Results on Apr 23, 2024

Upcoming dividend of US$0.45 per share

Full year 2023 earnings released: EPS: US$2.45 (vs US$3.48 in FY 2022)

Fourth quarter dividend of US$0.45 announced

Fourth quarter dividend of US$0.45 announced

Community Bank System, Inc. Announces Quarterly Dividend, Payable on April 10, 2024

Community Bank Appoints Dan Kennell as New Commercial Banking Officer

Full year 2023 earnings released: EPS: US$2.54 (vs US$3.48 in FY 2022)

Community Bank System, Inc. Reports Net Charge-Offs for the Fourth Quarter 2023

Community Bank System, Inc. Elects Michele Sullivan as Independent Director, Effective as of February 1, 2024

Community Bank Names Jeff Levy as New Chief Banking Officer

Community Bank System, Inc. to Report Fiscal Year 2023 Results on Jan 23, 2024

Upcoming dividend of US$0.45 per share at 3.8% yield

Insufficient new directors

Community Bank System, Inc. Announces its Quarterly Dividend, Payable on January 10, 2024

Third quarter 2023 earnings released: EPS: US$0.82 (vs US$0.90 in 3Q 2022)

Community Bank System, Inc. Reports Net Charge-Offs for the Third Quarter 2023

Community Bank System, Inc. to Report Q3, 2023 Results on Oct 24, 2023

Upcoming dividend of US$0.45 per share at 4.0% yield

Community Bank System, Inc. Reports Unaudited Net Charge-Offs Results for the Second Quarter Ended June 30, 2023

Second quarter 2023 earnings released: EPS: US$0.90 (vs US$0.74 in 2Q 2022)

Community Bank System, Inc. Announces Increase to Its Quarterly Dividend, Payable on October 10, 2023

Community Bank System, Inc. and Community Bank, National Association Announces Executive Changes

Community Bank System, Inc. to Report Q2, 2023 Results on Jul 31, 2023

Upcoming dividend of US$0.44 per share at 3.3% yield

Community Bank System, Inc. Declares Quarterly Cash Dividend, Payable on July 10, 2023

First quarter 2023 earnings released: EPS: US$0.11 (vs US$0.87 in 1Q 2022)

Independent Lead Director recently bought €101k worth of stock

Upcoming dividend of US$0.44 per share at 3.0% yield

Community Bank System, Inc. Announces Quarterly Dividend, Payable on April 10, 2023

Community Bank System, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022

Full year 2022 earnings released: EPS: US$3.48 (vs US$3.51 in FY 2021)

Community Bank System, Inc. to Report Q4, 2022 Results on Jan 24, 2023

Upcoming dividend of US$0.44 per share

Community Bank System, Inc. Declares a Quarterly Cash Dividend, Payable on January 10, 2023

Third quarter 2022 earnings released: EPS: US$0.90 (vs US$0.84 in 3Q 2021)

Community Bank System, Inc. to Report Q3, 2022 Results on Oct 24, 2022

Upcoming dividend of US$0.44 per share

Community Bank System, Inc. and Community Bank, N.A. Announce Executive Changes

Community Bank System, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022

Second quarter 2022 earnings released: EPS: US$0.74 (vs US$0.89 in 2Q 2021)

Community Bank System, Inc. Declares Quarterly Cash Dividend, Payable on October 10, 2022

Community Bank System, Inc. to Report Q2, 2022 Results on Jul 25, 2022

Upcoming dividend of US$0.43 per share

Independent Lead Director recently sold €122k worth of stock

Community Bank System, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on July 11, 2022

Community Bank System, Inc. Announces Executive Changes

Independent Lead Director recently sold €632k worth of stock

First quarter 2022 earnings released: EPS: US$0.87 (vs US$0.98 in 1Q 2021)

Community Bank System, Inc. Reports Net Charge-Offs for the First Quarter Ended March 31, 2022

Community Bank System, Inc. to Report Q1, 2022 Results on Apr 25, 2022

Community Bank System, Inc. to Report Q1, 2022 Results on Apr 25, 2022