Community Bank System Inc. (CBU) Financial Statements (2024 and earlier)
Company Profile
| Business Address |
5790 WIDEWATERS PKWY DEWITT, NY 13214 |
| State of Incorp. | DE |
| Fiscal Year End | December 31 |
| Industry (SIC) | 6021 - National Commercial Banks (benchmarking) |
| More info | Complete Financial Analysis Financial Benchmarking |
Balance Sheet (Statement of Financial Position) ($ in thousands)
| 6/30/2024 MRQ | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | |||
|---|---|---|---|---|---|---|---|---|---|
| ASSETS | |||||||||
| Current Assets | |||||||||
| Cash, cash equivalents, and short-term investments | 191,334 | 210,315 | 1,875,527 | 1,646,250 | 205,481 | 212,266 | |||
| Cash and cash equivalents | 190,962 | 209,896 | 1,875,064 | 1,645,805 | 205,030 | 211,834 | |||
| Short-term investments | 372 | 419 | 463 | 445 | 451 | 432 | |||
| Financing receivable, accrued interest, after allowance for credit loss | 31,200 | ✕ | ✕ | ||||||
| Debt securities, held-to-maturity, excluding accrued interest, after allowance for credit loss | 1,172,174 | ✕ | ✕ | ✕ | |||||
| Debt securities, available-for-sale, amortized cost, excluding accrued interest, after allowance for credit loss | 3,301,607 | ✕ | ✕ | ✕ | |||||
| Total current assets: | 4,696,315 | 210,315 | 1,875,527 | 1,646,250 | 205,481 | 212,266 | |||
| Noncurrent Assets | |||||||||
| Operating lease, right-of-use asset | 40,036 | 30,069 | 31,754 | 34,908 | 39,895 | ✕ | |||
| Property, plant and equipment | 173,418 | 160,778 | 160,651 | 165,655 | 164,638 | 119,988 | |||
| Intangible assets, net (including goodwill) | 897,987 | 902,837 | 864,335 | 846,648 | 836,923 | 807,349 | |||
| Goodwill | 845,396 | 841,841 | 799,109 | 793,708 | 773,810 | 733,503 | |||
| Intangible assets, net (excluding goodwill) | 52,591 | 60,996 | 65,226 | 52,940 | 63,113 | 73,846 | |||
| Total noncurrent assets: | 1,111,441 | 1,093,684 | 1,056,740 | 1,047,211 | 1,041,456 | 927,337 | |||
| Other undisclosed assets | 9,747,997 | 14,531,652 | 12,620,390 | 11,237,633 | 10,163,358 | 9,467,692 | |||
| TOTAL ASSETS: | 15,555,753 | 15,835,651 | 15,552,657 | 13,931,094 | 11,410,295 | 10,607,295 | |||
| LIABILITIES AND EQUITY | |||||||||
| Liabilities | |||||||||
| Current Liabilities | |||||||||
| Accounts payable and accrued liabilities | 9,500 | ||||||||
| Accrued liabilities | 9,500 | ||||||||
| Debt | 304,595 | 346,652 | 324,720 | 284,008 | 241,708 | 54,400 | |||
| Total current liabilities: | 314,095 | 346,652 | 324,720 | 284,008 | 241,708 | 54,400 | |||
| Noncurrent Liabilities | |||||||||
| Liabilities, other than long-term debt | 200 | 900 | |||||||
| Investment program, proportional amortization method, elected, commitment | 200 | 900 | |||||||
| Total noncurrent liabilities: | 200 | 900 | |||||||
| Other undisclosed liabilities | 13,543,721 | 13,937,294 | 13,126,930 | 11,542,079 | 9,313,353 | 8,839,112 | |||
| Total liabilities: | 13,857,816 | 14,283,946 | 13,451,850 | 11,826,987 | 9,555,061 | 8,893,512 | |||
| Equity | |||||||||
| Equity, attributable to parent, including: | 1,697,937 | 1,551,705 | 2,100,807 | 2,104,107 | 1,855,234 | 1,713,783 | |||
| Treasury stock, value | (55,592) | (26,485) | (10,610) | (6,198) | (6,823) | (11,528) | |||
| Additional paid in capital | 1,060,289 | 1,050,231 | 1,041,304 | 1,025,163 | 927,337 | 911,748 | |||
| Accumulated other comprehensive income (loss) | (556,892) | (686,439) | (50,627) | 62,077 | (10,226) | (45,305) | |||
| Retained earnings | 1,188,869 | 1,152,452 | 1,058,286 | 960,183 | 882,851 | 795,563 | |||
| Other undisclosed equity, attributable to parent | 61,263 | 61,946 | 62,454 | 62,882 | 62,095 | 63,305 | |||
| Total equity: | 1,697,937 | 1,551,705 | 2,100,807 | 2,104,107 | 1,855,234 | 1,713,783 | |||
| TOTAL LIABILITIES AND EQUITY: | 15,555,753 | 15,835,651 | 15,552,657 | 13,931,094 | 11,410,295 | 10,607,295 | |||
Income Statement (P&L) ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Revenues | 489,059 | 443,729 | 387,420 | 389,278 | 385,727 | 362,733 | ||
| Net investment income | 541,388 | 443,729 | 387,420 | 389,278 | 385,727 | 362,733 | ||
| Cost of revenue (Provision for Loan, Lease, and Other Losses) | (11,203) | (14,773) | (14,212) | (8,430) | (10,837) | |||
| Gross profit: | 477,856 | 428,956 | 387,420 | 375,066 | 377,297 | 351,896 | ||
| Operating expenses | (153,324) | (548,193) | (501,123) | (487,039) | (475,482) | (444,358) | ||
| Operating income (loss): | 324,532 | (119,237) | (113,703) | (111,973) | (98,185) | (92,462) | ||
| Interest and debt expense | (103,861) | (23,099) | (13,008) | (20,454) | (26,552) | (17,996) | ||
| Other undisclosed income from continuing operations before equity method investments, income taxes | 338,503 | 334,075 | 323,446 | |||||
| Income (loss) from continuing operations before equity method investments, income taxes: | 220,671 | (142,336) | (126,711) | 206,076 | 209,338 | 212,988 | ||
| Other undisclosed income (loss) from continuing operations before income taxes | (52,440) | 382,650 | 368,059 | |||||
| Income from continuing operations before income taxes: | 168,231 | 240,314 | 241,348 | 206,076 | 209,338 | 212,988 | ||
| Income tax expense | (36,307) | (52,233) | (51,654) | (41,400) | (40,275) | (44,347) | ||
| Income from continuing operations: | 131,924 | 188,081 | 189,694 | 164,676 | 169,063 | 168,641 | ||
| Income before gain (loss) on sale of properties: | ✕ | ✕ | ✕ | 189,694 | 164,676 | 169,063 | 168,641 | |
| Net income attributable to parent: | 131,924 | 188,081 | 189,694 | 164,676 | 169,063 | 168,641 | ||
| Other undisclosed net loss available to common stockholders, basic | (447) | (533) | (445) | (514) | (400) | (744) | ||
| Net income available to common stockholders, basic: | 131,477 | 187,548 | 189,249 | 164,162 | 168,663 | 167,897 | ||
| Dilutive securities, effect on basic earnings per share | (447) | (533) | (445) | (514) | (400) | (744) | ||
| Net income available to common stockholders, diluted: | 131,030 | 187,015 | 188,804 | 163,648 | 168,263 | 167,153 | ||
Comprehensive Income ($ in thousands)
| 6/30/2024 TTM | 12/31/2023 | 12/31/2022 | 12/31/2021 | 12/31/2020 | 12/31/2019 | 12/31/2018 | ||
|---|---|---|---|---|---|---|---|---|
| Net income: | 131,924 | 188,081 | 189,694 | 164,676 | 169,063 | 168,641 | ||
| Other comprehensive income (loss) | 4,097 | (15,831) | 13,403 | 6,009 | (2,045) | (10,618) | ||
| Comprehensive income: | 136,021 | 172,250 | 203,097 | 170,685 | 167,018 | 158,023 | ||
| Other undisclosed comprehensive income (loss), net of tax, attributable to parent | 125,450 | (619,981) | (126,107) | 66,294 | 37,124 | (30,988) | ||
| Comprehensive income (loss), net of tax, attributable to parent: | 261,471 | (447,731) | 76,990 | 236,979 | 204,142 | 127,035 | ||
Statements Sources
The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.