Board Change • 10h
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Brenda Hall was the last director to join the board, commencing their role in 2026. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • May 20
First quarter dividend of US$0.47 announced Shareholders will receive a dividend of US$0.47. Ex-date: 15th June 2026 Payment date: 10th July 2026 Dividend yield will be 3.2%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.6% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Apr 23
Community Financial System, Inc. Announces Quarterly Dividend, Payable on July 10, 2026 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.47 per share on its common stock. The dividend will be payable on July 10, 2026 to shareholders of record as of June 15, 2026. The $0.47 cash dividend represents an annualized yield of 3.0% based on the closing share price of $62.70 on April 21, 2026. Duyuru • Mar 30
Community Financial System, Inc., Annual General Meeting, May 20, 2026 Community Financial System, Inc., Annual General Meeting, May 20, 2026. Duyuru • Mar 19
Community Financial System, Inc. to Report Q1, 2026 Results on Apr 29, 2026 Community Financial System, Inc. announced that they will report Q1, 2026 results Pre-Market on Apr 29, 2026 Duyuru • Feb 12
Community Financial System, Inc. Appoints Brenda M. Hall as Independent Director and Risk Committee Member, Effective March 1, 2026 Community Financial System, Inc. announced the appointment of Brenda M. Hall to its Board of Directors as a new independent director, effective as of March 1, 2026. Brenda M. Hall is the former Executive Vice President and Chief Operating Officer of Standard Lines at Selective Insurance Group, Inc., where she built a distinguished 24-year career marked by progressive advancement and increasing leadership responsibilities. During her tenure at Selective, Ms. Hall most recently served as Chief Operating Officer from October 2019 until her retirement in January 2026. In this role, she oversaw the company’s largest business segment, leading the development and execution of growth strategies, expansion into new geographic markets, enhancement of data-driven operations, and integration of predictive modeling into underwriting processes. Prior to her role as COO, Ms. Hall held several senior leadership positions at Selective, including Senior Vice President, Chief Strategic Operations Officer, and Senior Vice President, Director of Field Underwriting. Ms. Hall brings to the Board extensive C-suite level experience in the property and casualty insurance industry, with expertise in enterprise strategy, public company oversight, risk management, customer service, and regulatory compliance. The Board has determined that Ms. Hall qualifies as an independent director under New York Stock Exchange and Board standards. With her appointment, the Board now consists of 14 directors, 13 of whom are independent. Ms. Hall also joined the Board of Directors of Community Bank, N.A., the Company’s banking subsidiary, and will serve on the Risk Committee of the Company and the Bank. Duyuru • Jan 28
Community Financial System, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2025 Community Financial System, Inc. reported net charge-offs for the fourth quarter ended December 31, 2025. For the quarter, the company reported net charge-offs of $2,328,000 against $3,211,000 a year ago. Duyuru • Jan 22
Community Financial System, Inc. Announces Quarterly Dividend, Payable on April 10, 2026 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.47 per share on its common stock. The dividend will be payable on April 10, 2026 to shareholders of record as of March 16, 2026. The $0.47 cash dividend represents an annualized yield of 3.08% based on the closing share price of $60.99 on January 20, 2026. Duyuru • Dec 19
Community Financial System, Inc. to Report Q4, 2025 Results on Jan 27, 2026 Community Financial System, Inc. announced that they will report Q4, 2025 results Pre-Market on Jan 27, 2026 Duyuru • Oct 22
Community Financial System, Inc. Reports Net Charge-Offs for the Third Quarter Ended September 30, 2025 Community Financial System, Inc. reported net charge-offs for the third quarter ended September 30, 2025. For the quarter, the company reported net charge-offs of $2,471,000 against $2,772,000 a year ago. Duyuru • Oct 16
Community Financial System, Inc. Announces Quarterly Dividend, Payable on January 12, 2026 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.47 per share on its common stock. The dividend will be payable on January 12, 2026 to shareholders of record as of December 12, 2025. The $0.47 cash dividend represents an annualized yield of 3.21% based on the closing share price of $58.48 on October 14, 2025. Duyuru • Sep 22
Community Financial System, Inc. to Report Q3, 2025 Results on Oct 21, 2025 Community Financial System, Inc. announced that they will report Q3, 2025 results at 9:30 AM, US Eastern Standard Time on Oct 21, 2025 Duyuru • Sep 18
Community Financial System, Inc. Appoints John A. Vaccaro as New Independent Director, Effective October 1, 2025 Community Financial System, Inc. announced the appointment of John A. Vaccaro to its Board of Directors as a new independent director, effective as of October 1, 2025. Mr. Vaccaro is Chairman Emeritus of MML Investors Services, LLC and Chairman of MassMutual Private Wealth & Trust, FSB, both subsidiaries of Massachusetts Mutual Life Insurance Company. He led MassMutual Financial Advisors and served as CEO of MML Investors Services from 2009 until March 2025, when he stepped down as Chief Executive Officer in connection with his upcoming retirement in 2026, where he led a team of over 7,500 financial advisors and 3,000 support staff across more than 1,600 locations nationwide. Mr. Vaccaro brings to the Board extensive experience in wealth management, insurance, business strategy, financial oversight, and regulatory compliance. The Board has determined that Mr. Vaccaro qualifies as an independent director under New York Stock Exchange and Board standards. With his appointment, the Board now consists of 13 directors, 12 of whom are independent. Mr. Vaccaro also joined the Board of Directors of Community Bank, N.A. and will serve on its Trust Committee. Mr. Vaccaro currently serves on the Board of Governors of the Financial Industry Regulatory Authority (“FINRA”) and previously served on its regional district committee (2009–2012). He was also a Director of the Securities Industry and Financial Markets Association from 2022 to 2024. Mr. Vaccaro was appointed by Deval Patrick, Governor of the Commonwealth of Massachusetts, to the Board of Trustees of Holyoke Community College (2013-2017), served as a board member of LL Global, Inc., the non-profit parent company for LIMRA (formerly the Life Insurance Marketing and Research Association) and LOMA (2020-2022), and is an Honorary Trustee of the Million Dollar Round Table Foundation, an industry-wide charitable organization. In September 2023, he joined the Board of Directors of Invest in Others, a charitable foundation that focuses and amplifies the charitable work of financial advisors. Mr. Vaccaro is a graduate of Saint Anselm College in Manchester, New Hampshire and served on its Board of Trustees from 2013 – 2023. Duyuru • Jul 17
Community Financial System, Inc. Announces Quarterly Dividend, Payable on October 10, 2025 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.47 per share on its common stock. The dividend will be payable on October 10, 2025 to shareholders of record as of September 12, 2025. Duyuru • Jun 23
Community Financial System, Inc. to Report Q2, 2025 Results on Jul 22, 2025 Community Financial System, Inc. announced that they will report Q2, 2025 results Pre-Market on Jul 22, 2025 Duyuru • Apr 17
Community Financial System, Inc. Announces Quarterly Dividend, Payable on July 10,2025 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.46 per share on its common stock. The dividend will be payable on July 10, 2025 to shareholders of record as of June 13, 2025. The $0.46 cash dividend represents an annualized yield of 3.47% based on the closing share price of $53.08 on April 15, 2025. Duyuru • Mar 31
Community Financial System, Inc., Annual General Meeting, May 21, 2025 Community Financial System, Inc., Annual General Meeting, May 21, 2025. Duyuru • Mar 24
Community Financial System, Inc. to Report Q1, 2025 Results on Apr 29, 2025 Community Financial System, Inc. announced that they will report Q1, 2025 results at 9:30 AM, US Eastern Standard Time on Apr 29, 2025 Duyuru • Feb 15
Community Financial System, Inc. Announces Retirement of Susan E. Skerritt as Member of the Board of Directors On February 13, 2025, Susan E. Skerritt, a member of the Board of Directors of Community Financial System, Inc. (the Company) notified the Company that she will not stand for re-election at the Company’s 2025 Annual Meeting of Shareholders (the 2025 Annual Meeting) and will retire from the Board, effective immediately following the 2025 Annual Meeting. The resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Duyuru • Jan 16
Community Financial System, Inc. Announces Quarterly Cash Dividend, Payable on April 10, 2025 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.46 per share on its common stock. The dividend will be payable on April 10, 2025 to shareholders of record as of March 14, 2025. The $0.46 cash dividend represents an annualized yield of 3.0% based on the closing share price of $61.60 on January 14, 2025. Duyuru • Dec 19
Community Financial System, Inc. to Report Fiscal Year 2024 Results on Jan 21, 2025 Community Financial System, Inc. announced that they will report fiscal year 2024 results Pre-Market on Jan 21, 2025 Valuation Update With 7 Day Price Move • Nov 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €65.50, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 8x in the Banks industry in Europe. Total returns to shareholders of 11% over the past three years. Reported Earnings • Oct 23
Third quarter 2024 earnings released: EPS: US$0.83 (vs US$0.82 in 3Q 2023) Third quarter 2024 results: EPS: US$0.83. Revenue: US$181.2m (up 5.1% from 3Q 2023). Net income: US$43.9m (flat on 3Q 2023). Profit margin: 24% (down from 26% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Declared Dividend • Oct 21
Second quarter dividend of US$0.46 announced Shareholders will receive a dividend of US$0.46. Ex-date: 13th December 2024 Payment date: 10th January 2025 Dividend yield will be 3.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (58% payout ratio) and is expected to be covered in 3 years' time (44% forecast payout ratio). The dividend has increased by an average of 5.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 51% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Oct 17
Community Financial System, Inc. Announces Quarterly Dividend on Common Stock, Payable on January 10, 2025 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.46 per share on its common stock. The dividend will be payable on January 10, 2025 to shareholders of record as of December 13, 2024. The $0.46 cash dividend represents an annualized yield of 3.0% based on the closing share price of $61.37 on October 15, 2024. Duyuru • Sep 27
Community Financial System, Inc. Appoints Savneet Singh as Independent Director, Effective October 1, 2024 Community Financial System, Inc. announced the appointment of Savneet Singh to its Board of Directors as a new independent director, effective as of October 1, 2024. Mr. Singh is the Chief Executive Officer (CEO) and President of PAR Technology Corporation and President of ParTech, Inc. (ParTech). Headquartered in Upstate New York, PAR Technology Corporation (PAR) is a global food service technology company providing leading omnichannel cloud-based software and hardware solutions to the restaurant and retail industries. Mr. Singh joined PAR’s Board of Directors in April 2018, was appointed PAR’s Interim CEO and President and Interim President of ParTech in December 2018, and since March 2019, has served as the CEO and President of PAR and President of ParTech. In addition to his service on PAR’s Board of Directors, Mr. Singh has previously served on the Boards of a number of public and private companies including the Boards of CDON AB, Blockchain Power Trust, Sharp Spring, Inc., Osprey Technology Acquisition Corp., and TCGplayer, Inc. Mr. Singh’s appointment expands the Company’s Board to 13 Directors, 12 of whom are independent. Mr. Singh was also appointed to the Board of Directors of Community Bank, N.A. (the “Bank”), the Company’s wholly-owned banking subsidiary. Mr. Singh will serve on the Bank’s and the Company’s joint Risk Committee and as one of the Board’s representatives to the Company’s Technology Committee. Mr. Singh received his B.S. in Applied Economics and Management from Cornell University where he serves on the Dyson Advisory Committee. He has received numerous awards including the Forbes 30 under 30 and Crain’s New York Business 40 under 40. Duyuru • Sep 23
Community Financial System, Inc. to Report Q3, 2024 Results on Oct 22, 2024 Community Financial System, Inc. announced that they will report Q3, 2024 results Pre-Market on Oct 22, 2024 Upcoming Dividend • Sep 06
Upcoming dividend of US$0.46 per share Eligible shareholders must have bought the stock before 13 September 2024. Payment date: 10 October 2024. Payout ratio is a comfortable 58% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.5%). Reported Earnings • Jul 24
Second quarter 2024 earnings released: EPS: US$0.91 (vs US$0.90 in 2Q 2023) Second quarter 2024 results: EPS: US$0.91. Revenue: US$181.1m (up 3.8% from 2Q 2023). Net income: US$47.9m (flat on 2Q 2023). Profit margin: 27% (down from 28% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 3.2% growth forecast for the Banks industry in Europe. Declared Dividend • Jul 22
First quarter dividend of US$0.46 announced Shareholders will receive a dividend of US$0.46. Ex-date: 13th September 2024 Payment date: 10th October 2024 Dividend yield will be 3.2%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 6.5% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • Jul 18
Community Financial System, Inc. Announces Quarterly Dividend, Payable on October 10, 2024 Community Financial System, Inc. announced that it has declared a quarterly cash dividend of $0.46 per share on its common stock. The dividend will be payable on October 10, 2024 to shareholders of record as of September 13, 2024. The $0.46 cash dividend represents a $0.01, or 2.2%, increase and an annualized yield of 3.25% based on the closing share price of $56.63 on July 16, 2024. Valuation Update With 7 Day Price Move • Jul 16
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €50.00, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 8x in the Banks industry in Europe. Total loss to shareholders of 8.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €78.95 per share. Duyuru • Jun 25
Community Financial System, Inc. to Report Q2, 2024 Results on Jul 23, 2024 Community Financial System, Inc. announced that they will report Q2, 2024 results Pre-Market on Jul 23, 2024 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.45 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 10 July 2024. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.5%). Lower than average of industry peers (6.4%). Declared Dividend • May 20
First quarter dividend of US$0.45 announced Shareholders will receive a dividend of US$0.45. Ex-date: 14th June 2024 Payment date: 10th July 2024 Dividend yield will be 3.8%, which is lower than the industry average of 4.8%. Sustainability & Growth The dividend has increased by an average of 4.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 6.6% over the next year, which should provide support to the dividend and adequate earnings cover. Duyuru • May 16
Community Bank System, Inc. Declares Quarterly Dividend, Payable on July 10, 2024 Community Financial System, Inc. declared a quarterly cash dividend of $0.45 per share on its common stock. The dividend will be payable on July 10, 2024 to Shareholders of record as of June 14, 2024. The $0.45 cash dividend represents an annualized yield of 3.78% based on the closing share price of $47.64 on May 14, 2024. Reported Earnings • Apr 24
First quarter 2024 earnings released: EPS: US$0.77 (vs US$0.11 in 1Q 2023) First quarter 2024 results: EPS: US$0.77 (up from US$0.11 in 1Q 2023). Revenue: US$171.1m (up 42% from 1Q 2023). Net income: US$40.9m (up US$35.1m from 1Q 2023). Profit margin: 24% (up from 4.8% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 5.9% p.a. on average during the next 2 years, compared to a 3.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 14% per year. Duyuru • Mar 30
Community Bank System, Inc., Annual General Meeting, May 15, 2024 Community Bank System, Inc., Annual General Meeting, May 15, 2024, at 12:00 US Eastern Standard Time. Location: Marriott Syracuse Downtown Persian Terrace, 100 E. Onondaga Street, Syracuse, NY 13202 New York United States Agenda: To elect 12 of the current Directors for a one year term and until their successors are elected and qualified; to hold an advisory vote on executive compensation; to approve the Community Bank System, Inc. 2022 Long-Term Incentive Plan, as amended; to ratify the appointment of PricewaterhouseCoopers LLP as the Company’s independent registered public accounting firm for 2024. Duyuru • Mar 26
Community Bank System, Inc. to Report Q1, 2024 Results on Apr 23, 2024 Community Bank System, Inc. announced that they will report Q1, 2024 results at 11:00 AM, US Eastern Standard Time on Apr 23, 2024 Upcoming Dividend • Mar 07
Upcoming dividend of US$0.45 per share Eligible shareholders must have bought the stock before 14 March 2024. Payment date: 10 April 2024. Payout ratio is a comfortable 73% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (6.7%). Reported Earnings • Mar 04
Full year 2023 earnings released: EPS: US$2.45 (vs US$3.48 in FY 2022) Full year 2023 results: EPS: US$2.45 (down from US$3.48 in FY 2022). Revenue: US$640.7m (down 3.6% from FY 2022). Net income: US$131.5m (down 30% from FY 2022). Profit margin: 21% (down from 28% in FY 2022). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.14% (up from 2.92% in FY 2022). Cost-to-income ratio: 63.5% (up from 59.5% in FY 2022). Non-performing loans: 0.56% (up from 0.38% in FY 2022). Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 2.9% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 13% per year. Declared Dividend • Feb 18
Fourth quarter dividend of US$0.45 announced Shareholders will receive a dividend of US$0.45. Ex-date: 14th March 2024 Payment date: 10th April 2024 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (70% payout ratio) and is expected to be covered in 3 years' time (53% forecast payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Declared Dividend • Feb 18
Fourth quarter dividend of US$0.45 announced Shareholders will receive a dividend of US$0.45. Ex-date: 14th March 2024 Payment date: 10th April 2024 Dividend yield will be 4.0%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is covered by earnings (70% payout ratio) and is expected to be covered in 3 years' time (53% forecast payout ratio). The dividend has increased by an average of 5.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 32% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Feb 15
Community Bank System, Inc. Announces Quarterly Dividend, Payable on April 10, 2024 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.45 per share on its common stock. The dividend will be payable on April 10, 2024 to shareholders of record as of March 15, 2024. Duyuru • Feb 02
Community Bank Appoints Dan Kennell as New Commercial Banking Officer Community Bank has announced the appointment of a new commercial banking officer. Dan Kennell has been appointed by the bank to its Rochester, NY, commercial banking team. In the role, Kennell is to manage loan and deposit relationships. Prior to joining Community Bank, Kennell was a relationship manager, commercial middle market at KeyBank. Reported Earnings • Jan 25
Full year 2023 earnings released: EPS: US$2.54 (vs US$3.48 in FY 2022) Full year 2023 results: EPS: US$2.54 (down from US$3.48 in FY 2022). Revenue: US$640.7m (down 3.6% from FY 2022). Net income: US$136.5m (down 27% from FY 2022). Profit margin: 21% (down from 28% in FY 2022). The decrease in margin was primarily driven by higher expenses. Net interest margin (NIM): 3.14% (up from 2.92% in FY 2022). Non-performing loans: 0.56% (up from 0.38% in FY 2022). Revenue is forecast to grow 8.9% p.a. on average during the next 2 years, compared to a 2.0% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 8% per year whereas the company’s share price has fallen by 6% per year. Duyuru • Jan 24
Community Bank System, Inc. Reports Net Charge-Offs for the Fourth Quarter 2023 Community Bank System, Inc. reports net charge-offs for the fourth quarter 2023. For the quarter, Net charge-offs were $2,337,000 against $1,249,000 reported a year ago. Duyuru • Jan 20
Community Bank System, Inc. Elects Michele Sullivan as Independent Director, Effective as of February 1, 2024 Community Bank System, Inc. announced the election of Michele Sullivan to its Board of Directors as a new independent director, effective as of February 1, 2024. Ms. Sullivan is a retired partner of Crowe LLP (Crowe) where she served in Crowe’s consulting practice specializing in the financial services sector. She worked with top United States and global banks, as well as mid-market insurance carriers and fintech companies, providing consulting services on risk, compliance, internal audit, technology, strategic acquisitions, merger integration, and governance matters. Ms. Sullivan is a certified public accountant (CPA) and a certified risk management professional (CRMA). Ms. Sullivan joined Crowe in 1992 and, prior to her retirement in March 2023, served on Crowe’s Board of Directors for seven years and its Audit and Risk Committee. During her time on Crowe’s Board, she developed and led the Corporate Governance Strategic Initiative. She was a founding member of Crowe’s Exceptional Client Experience and Women Into Leadership programs and served on their steering committees. Ms. Sullivan’s election expands the Company’s Board to 14 Directors, 12 of whom are independent. Ms. Sullivan was also appointed to the Board of Directors of Community Bank, N.A., the Company’s wholly-owned banking subsidiary. The Board has determined that Ms. Sullivan is a qualified financial expert and she will serve on the Board’s Audit Committee and Risk Committee. Ms. Sullivan graduated from Indiana University with a B.S. in Accounting and has completed Board and Corporate Governance course work through Northwestern University’s Kellogg School of Management Executive Development Program. Duyuru • Jan 09
Community Bank Names Jeff Levy as New Chief Banking Officer Community Bank announced that Jeff Levy is taking on a newly created role. Levy, who has more than four decades of banking experience, has been promoted from president of commercial banking to chief banking officer, the company announced. In his new position, Levy will manage all the company's banking business, which includes commercial banking, retail banking and consumer lending. Levy joined Community Bank in 2018 as a regional executive and set about establishing its presence in the Capital Region, beginning with commercial banking. The following year, Community Bank System, the parent company of Community Bank, acquired Kinderhook Bank, broadening its services and reach in the area. Levy holds a bachelor's degree in business economics from SUNY Oneonta and an MBA from Fairleigh Dickinson University. He lives in Saratoga Springs with his wife, Rosemary Sgroi Levy. Duyuru • Dec 22
Community Bank System, Inc. to Report Fiscal Year 2023 Results on Jan 23, 2024 Community Bank System, Inc. announced that they will report fiscal year 2023 results Pre-Market on Jan 23, 2024 Upcoming Dividend • Dec 07
Upcoming dividend of US$0.45 per share at 3.8% yield Eligible shareholders must have bought the stock before 14 December 2023. Payment date: 10 January 2024. Payout ratio is a comfortable 63% and this is well supported by cash flows. Trailing yield: 3.8%. Lower than top quartile of German dividend payers (5.2%). Lower than average of industry peers (6.3%). Board Change • Dec 02
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 8 highly experienced directors. Independent Director Jeff Knauss was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Duyuru • Nov 17
Community Bank System, Inc. Announces its Quarterly Dividend, Payable on January 10, 2024 Community Bank System, Inc. declared a quarterly cash dividend of $0.45 per share on its common stock. The dividend will be payable on January 10, 2024 to shareholders of record as of December 15, 2023. The $0.45 cash dividend represents an annualized yield of 4.01% based on the closing share price of $44.87 on November 14, 2023. Reported Earnings • Oct 25
Third quarter 2023 earnings released: EPS: US$0.82 (vs US$0.90 in 3Q 2022) Third quarter 2023 results: EPS: US$0.82 (down from US$0.90 in 3Q 2022). Revenue: US$172.5m (up 1.1% from 3Q 2022). Net income: US$44.1m (down 9.1% from 3Q 2022). Profit margin: 26% (down from 28% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.6% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 10% per year, which means it is performing significantly worse than earnings. Duyuru • Oct 25
Community Bank System, Inc. Reports Net Charge-Offs for the Third Quarter 2023 Community Bank System, Inc. reports net charge-offs for the third quarter 2023. For the quarter, Net charge-offs were $1,249,000 against $358,000 reported a year ago. Duyuru • Sep 26
Community Bank System, Inc. to Report Q3, 2023 Results on Oct 24, 2023 Community Bank System, Inc. announced that they will report Q3, 2023 results Pre-Market on Oct 24, 2023 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.45 per share at 4.0% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 10 October 2023. Payout ratio is a comfortable 61% and this is well supported by cash flows. Trailing yield: 4.0%. Lower than top quartile of German dividend payers (4.8%). Lower than average of industry peers (6.3%). Duyuru • Aug 01
Community Bank System, Inc. Reports Unaudited Net Charge-Offs Results for the Second Quarter Ended June 30, 2023 Community Bank System, Inc. reported unaudited net charge-offs results for the second quarter ended June 30, 2023. For the quarter, the company reported net charge-offs of $706,000 against $383,000 a year ago. Reported Earnings • Jul 31
Second quarter 2023 earnings released: EPS: US$0.90 (vs US$0.74 in 2Q 2022) Second quarter 2023 results: EPS: US$0.90 (up from US$0.74 in 2Q 2022). Revenue: US$174.5m (up 8.3% from 2Q 2022). Net income: US$48.3m (up 22% from 2Q 2022). Profit margin: 28% (up from 25% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 3.7% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Duyuru • Jul 22
Community Bank System, Inc. Announces Increase to Its Quarterly Dividend, Payable on October 10, 2023 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.45 per share on its common stock. The dividend will be payable on October 10, 2023 to shareholders of record as of September 15, 2023. Duyuru • Jun 27
Community Bank System, Inc. to Report Q2, 2023 Results on Jul 31, 2023 Community Bank System, Inc. announced that they will report Q2, 2023 results Pre-Market on Jul 31, 2023 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.44 per share at 3.3% yield Eligible shareholders must have bought the stock before 14 June 2023. Payment date: 10 July 2023. Payout ratio is a comfortable 64% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.2%). Duyuru • May 18
Community Bank System, Inc. Declares Quarterly Cash Dividend, Payable on July 10, 2023 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on July 10, 2023 to Shareholders of record as of June 15, 2023. Reported Earnings • Apr 26
First quarter 2023 earnings released: EPS: US$0.11 (vs US$0.87 in 1Q 2022) First quarter 2023 results: EPS: US$0.11 (down from US$0.87 in 1Q 2022). Revenue: US$121.0m (down 24% from 1Q 2022). Net income: US$5.80m (down 88% from 1Q 2022). Profit margin: 4.8% (down from 29% in 1Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to grow 8.4% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Mar 18
Independent Lead Director recently bought €101k worth of stock On the 15th of March, Sally Steele bought around 2k shares on-market at roughly €50.74 per share. This transaction amounted to 4.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold €642k more in shares than they bought in the last 12 months. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.44 per share at 3.0% yield Eligible shareholders must have bought the stock before 14 March 2023. Payment date: 10 April 2023. Trailing yield: 3.0%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (5.3%). Duyuru • Feb 16
Community Bank System, Inc. Announces Quarterly Dividend, Payable on April 10, 2023 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on April 10, 2023 to shareholders of record as of March 15, 2023. Duyuru • Jan 25
Community Bank System, Inc. Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022 Community Bank System, Inc. reported net charge-offs for the fourth quarter ended December 31, 2022. For the quarter, the company reported net charge-offs of $2,054,000 against $1,708,000 reported a year ago. Reported Earnings • Jan 25
Full year 2022 earnings released: EPS: US$3.48 (vs US$3.51 in FY 2021) Full year 2022 results: EPS: US$3.48 (down from US$3.51 in FY 2021). Revenue: US$664.6m (up 5.6% from FY 2021). Net income: US$188.1m (flat on FY 2021). Profit margin: 28% (down from 30% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 5.8% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Duyuru • Dec 23
Community Bank System, Inc. to Report Q4, 2022 Results on Jan 24, 2023 Community Bank System, Inc. announced that they will report Q4, 2022 results at 9:30 AM, US Eastern Standard Time on Jan 24, 2023 Upcoming Dividend • Dec 07
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 14 December 2022. Payment date: 10 January 2023. Payout ratio is a comfortable 52% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.9%). Lower than average of industry peers (6.3%). Duyuru • Nov 17
Community Bank System, Inc. Declares a Quarterly Cash Dividend, Payable on January 10, 2023 Community Bank System, Inc. declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on January 10, 2023 to shareholders of record as of December 15, 2022. The $0.44 cash dividend represents an annualized yield of 2.69% based on the closing share price of $65.38 on November 15, 2022. Reported Earnings • Oct 25
Third quarter 2022 earnings released: EPS: US$0.90 (vs US$0.84 in 3Q 2021) Third quarter 2022 results: EPS: US$0.90 (up from US$0.84 in 3Q 2021). Revenue: US$170.6m (up 8.1% from 3Q 2021). Net income: US$48.7m (up 7.7% from 3Q 2021). Profit margin: 28% (in line with 3Q 2021). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 5.4% growth forecast for the Banks industry in Europe. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has remained flat. Duyuru • Sep 24
Community Bank System, Inc. to Report Q3, 2022 Results on Oct 24, 2022 Community Bank System, Inc. announced that they will report Q3, 2022 results Pre-Market on Oct 24, 2022 Upcoming Dividend • Sep 07
Upcoming dividend of US$0.44 per share Eligible shareholders must have bought the stock before 14 September 2022. Payment date: 10 October 2022. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (6.6%). Duyuru • Aug 26
Community Bank System, Inc. and Community Bank, N.A. Announce Executive Changes Community Bank System, Inc. (the Company) announced two senior management changes. Joseph F. Serbun, President, Retail Banking, of the Company and its wholly-owned subsidiary, Community Bank, N.A. (the Bank), has decided to retire after more than 14 years of service. Serbun will retire from his position effective as of September 30, 2022. In addition, the Company announced that it has promoted Dimitar Karaivanov to Executive Vice President and Chief Operating Officer of the Company and the Bank effective October 1, 2022. Karaivanov has served as Executive Vice President of Financial Services and Corporate Development since joining the Company in June 2021. In his role as Chief Operating Officer, Karaivanov will have oversight responsibilities for all banking, wealth management, employee benefit services, and insurance operations and related business activities. Duyuru • Jul 27
Community Bank System, Inc. Reports Net Charge-Offs for the Second Quarter Ended June 30, 2022 Community Bank System, Inc. reported net charge-offs for the second quarter ended June 30, 2022. For the quarter, the company recorded net charge-offs of $0.4 million, or an annualized 0.02% of average loans, in the second quarter of 2022. Reported Earnings • Jul 26
Second quarter 2022 earnings released: EPS: US$0.74 (vs US$0.89 in 2Q 2021) Second quarter 2022 results: EPS: US$0.74 (down from US$0.89 in 2Q 2021). Revenue: US$161.2m (up 3.4% from 2Q 2021). Net income: US$39.8m (down 17% from 2Q 2021). Profit margin: 25% (down from 31% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 9.1%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Duyuru • Jul 21
Community Bank System, Inc. Declares Quarterly Cash Dividend, Payable on October 10, 2022 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.44 per share on its common stock. The dividend will be payable on October 10, 2022 to shareholders of record as of September 15, 2022. Duyuru • Jun 23
Community Bank System, Inc. to Report Q2, 2022 Results on Jul 25, 2022 Community Bank System, Inc. announced that they will report Q2, 2022 results Pre-Market on Jul 25, 2022 Upcoming Dividend • Jun 07
Upcoming dividend of US$0.43 per share Eligible shareholders must have bought the stock before 14 June 2022. Payment date: 11 July 2022. Payout ratio is a comfortable 50% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of German dividend payers (4.2%). Lower than average of industry peers (6.2%). Recent Insider Transactions • May 24
Independent Lead Director recently sold €122k worth of stock On the 23rd of May, Sally Steele sold around 2k shares on-market at roughly €61.11 per share. In the last 3 months, they made an even bigger sale worth €632k. Insiders have been net sellers, collectively disposing of €942k more than they bought in the last 12 months. Duyuru • May 19
Community Bank System, Inc. Declares Quarterly Cash Dividend on Its Common Stock, Payable on July 11, 2022 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.43 per share on its common stock. The dividend will be payable on July 11, 2022 to Shareholders of record as of June 15, 2022. The $0.43 cash dividend represents an annualized yield of 2.68% based on the closing share price of $64.23 on May 17, 2022. Duyuru • May 02
Community Bank System, Inc. Announces Executive Changes Community Bank System, Inc. announced that On April 28, 2022, George J. Getman, Executive Vice President and General Counsel has decided to retire after more than 14 years of service with the Company. Mr. Getman will resign from his position as Executive Vice President and General Counsel of the Company and the Bank effective June 30, 2022, and remain employed as Senior Counsel through January 2, 2023 to assist in the transition of his responsibilities and perform other duties as assigned by the Company's President and Chief Executive Officer. Mr. Getman joined the Company's executive team in 2008 as Executive Vice President and General Counsel. Prior to joining the Company, Mr. Getman served as outside counsel to the Company for more than 20 years. Over the course of his service as Executive Vice President and General Counsel, he played an instrumental role in supporting the Company's growth and success and developing its internal legal function. Michael N. Abdo, Senior Vice President and Senior Associate General Counsel will be assuming Mr. Getman's duties and will be responsible for overseeing the Company's legal function as Executive Vice President and General Counsel effective June 30, 2022. Mr. Abdo has more than 19 years of legal experience, having previously worked at the law firm of Cadwalader, Wickersham & Taft LLP prior to joining the Company in 2013 as Associate General Counsel. Mr. Abdo has served as Senior Vice President and Senior Associate General Counsel since 2020. Recent Insider Transactions • Apr 29
Independent Lead Director recently sold €632k worth of stock On the 28th of April, Sally Steele sold around 10k shares on-market at roughly €63.21 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €803k more than they bought in the last 12 months. Reported Earnings • Apr 27
First quarter 2022 earnings released: EPS: US$0.87 (vs US$0.98 in 1Q 2021) First quarter 2022 results: EPS: US$0.87 (down from US$0.98 in 1Q 2021). Revenue: US$159.6m (flat on 1Q 2021). Net income: US$47.1m (down 11% from 1Q 2021). Profit margin: 30% (down from 33% in 1Q 2021). Over the next year, revenue is forecast to grow 6.8%, compared to a 8.1% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 3% per year and the company’s share price has also increased by 3% per year. Duyuru • Apr 26
Community Bank System, Inc. Reports Net Charge-Offs for the First Quarter Ended March 31, 2022 Community Bank System, Inc. reported net charge-offs for the first quarter ended March 31, 2022. The Company recorded net charge-offs of $0.5 million, or an annualized 0.03% of average loans, in the first quarter of 2022. This compares to net charge-offs of $0.4 million, or an annualized 0.02% of average loans, in the first quarter of 2021. Duyuru • Mar 31
Community Bank System, Inc. to Report Q1, 2022 Results on Apr 25, 2022 Community Bank System, Inc. announced that they will report Q1, 2022 results Pre-Market on Apr 25, 2022 Duyuru • Mar 29
Community Bank System, Inc., Annual General Meeting, May 18, 2022 Community Bank System, Inc., Annual General Meeting, May 18, 2022, at 12:00 US Eastern Standard Time. Location: Wolfert's Roost Country Club 120 Van Rensselaer Boulevard Albany New York United States Agenda: To elect the 13 current Directors for a one (1) year term and until their successors are elected and qualified; to hold an advisory vote on executive compensation; to approve the Community Bank System, Inc. 2022 Long-Term Incentive Plan;to ratify the appointment of Pricewater house Coopers LLP as the Company's independent registered public accounting firm for 2022; and to transact any other business which may properly come before the Meeting or any adjournment thereof. Upcoming Dividend • Mar 07
Upcoming dividend of US$0.43 per share Eligible shareholders must have bought the stock before 14 March 2022. Payment date: 11 April 2022. Payout ratio is a comfortable 48% but the company is not cash flow positive. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (3.5%). Lower than average of industry peers (6.4%). Recent Insider Transactions • Mar 04
Independent Lead Director recently sold €216k worth of stock On the 2nd of March, Sally Steele sold around 3k shares on-market at roughly €66.02 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €170k more than they bought in the last 12 months. Duyuru • Feb 17
Community Bank System, Inc. Announces Quarterly Dividend, Payable on April 11, 2022 Community Bank System, Inc. announced that it has declared a quarterly cash dividend of $0.43 per share on its common stock. The dividend will be payable on April 11, 2022 to shareholders of record as of March 15, 2022. Reported Earnings • Jan 25
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$3.51 (up from US$3.10 in FY 2020). Revenue: US$629.5m (up 8.1% from FY 2020). Net income: US$189.7m (up 16% from FY 2020). Profit margin: 30% (up from 28% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the next year, revenue is forecast to grow 3.3%, compared to a 11% growth forecast for the banks industry in Germany. Over the last 3 years on average, earnings per share has increased by 2% per year whereas the company’s share price has increased by 6% per year. Duyuru • Jan 25
Community Bank System, Inc. Reports Net Charge-Off for the Fourth Quarter Ended December 31, 2021 Community Bank System, Inc. reports net charge-off for the fourth quarter ended December 31, 2021. For the quarter, the company reported $1,708,000 against $1,258,000 reported a year ago. Buying Opportunity • Jan 21
Now 20% undervalued Over the last 90 days, the stock is up 5.6%. The fair value is estimated to be US$82.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.5% per annum over the last 3 years. Earnings per share has been flat over the last 3 years. 
