Community Bank System, Inc. (CBU) 10-Year Financial Performance & Capital Metrics

CBU • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutCommunity Bank System, Inc. operates as the bank holding company for Community Bank, N.A. that provides various banking and other financial services to retail, commercial, and municipal customers. It operates through three segments: Banking, Employee Benefit Services, and All Other. The company offers various deposits products, such as checking, savings, and money market deposit accounts, as well as time deposits. It also provides loans, including consumer mortgages; general purpose commercial and industrial loans, and mortgages on commercial properties; paycheck protection program loans; installment loans that are originated through selected dealerships and are secured by automobiles, marine, and other recreational vehicles; personal installment loans and lines of credit for consumers; and home equity products. In addition, the company offers broker-dealer and investment advisory; cash management, investment, and treasury services; asset management; and employee benefit services, as well as operates as a full-service insurance agency that offers personal and commercial lines of insurance, and other risk management products and services. Further, it provides contribution plan administration, employee benefit trust, collective investment fund, retirement plan administration, fund administration, transfer agency, actuarial and benefit consulting, VEBA/HRA, and health and welfare consulting services. Additionally, the company offers wealth management, retirement planning, higher educational planning, fiduciary, risk management, trust, and personal financial planning services; and investment alternatives, including stocks, bonds, mutual funds, and advisory products, as well as master recordkeeping services. As of January 24, 2022, it operated approximately 215 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts. Community Bank System, Inc. was founded in 1866 and is headquartered in DeWitt, New York.Show more

Net Interest Income $449M +2.7%
Total Revenue $941M +24.4%
Net Income $182M +38.3%
Return on Equity 10.55% +29.9%
Net Interest Margin 2.74% -2.5%
Efficiency Ratio 51.75% -17.2%
ROA 1.14% +35.9%
Equity / Assets 10.76% -1.4%
Book Value per Share 33.33 +5.5%
Tangible BV/Share 16.29 +9.4%
Debt/Equity 0.57 +25.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 51.8% efficiency ratio
✓23 consecutive years of dividend growth
✓Well capitalized: 10.8% equity/assets
✓Healthy dividend yield of 3.0%
✓Diversified revenue: 31.6% from non-interest income

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y9.63%

5Y8.82%

3Y14.08%

TTM-

Profit (Net Income) CAGR

10Y7.16%

5Y1.54%

3Y-1.28%

TTM16.81%

EPS CAGR

10Y4.48%

5Y1.27%

3Y-0.38%

TTM17.63%

ROCE

10Y Avg10.6%

5Y Avg10.56%

3Y Avg10.53%

Latest9.79%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.32B	30.11	54.75	0.1%	4.5%	4.02%	7.02%	0.70
EBCEastern Bankshares, Inc.	4.28B	19.04	28.85	91.64%	11.17%	1.3%	6.31%	0.01
LYGLloyds Banking Group plc	80.35B	5.47	21.88	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	25.74B	59.93	19.78	1.31%	12.22%	6.6%	7.3%	0.51
PFSProvident Financial Services, Inc.	2.59B	19.85	18.90	63.91%	10.13%	7.51%	16.39%	0.93
CBUCommunity Bank System, Inc.	3.23B	61.29	17.82	24.44%	19.4%	10.34%	6.86%	0.57
VLYValley National Bancorp	6.54B	11.73	17	6.51%	10.65%	6.53%	8.39%	0.50
INDBIndependent Bank Corp.	3.71B	74.81	16.55	6.89%	19.72%	7.76%	5.65%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	248.42M	273.9M	315.68M	345.06M	359.18M	368.4M	374.41M	420.63M	437.29M	449.12M
NII Growth %	0.02%	0.1%	0.15%	0.09%	0.04%	0.03%	0.02%	0.12%	0.04%	0.03%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	259.62M	285.19M	329.45M	362.73M	385.73M	389.28M	387.42M	443.73M	541.39M	643.53M
Interest Expense	11.2M	11.29M	13.78M	17.68M	26.55M	20.88M	13.01M	23.1M	104.1M	194.41M
Loan Loss Provision	6.45M	8.08M	10.98M	10.84M	8.43M	14.21M	-8.84M	14.77M	11.2M	22.77M
Non-Interest Income+	123.3M	155.63M	202.42M	224.38M	230.62M	228M	246.24M	258.73M	214.59M	297.19M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	382.92M	440.81M	531.88M	587.11M	616.35M	617.28M	633.65M	702.45M	755.98M	940.71M
Revenue Growth %	0.02%	0.15%	0.21%	0.1%	0.05%	0%	0.03%	0.11%	0.08%	0.24%
Non-Interest Expense	233.06M	266.85M	347.15M	345.61M	372.03M	376.11M	388.14M	424.27M	472.44M	486.82M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	132.22M	154.6M	159.97M	212.99M	209.34M	206.08M	241.35M	240.31M	168.23M	236.71M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.02%	0.17%	0.03%	0.33%	-0.02%	-0.02%	0.17%	-0%	-0.3%	0.41%
Pretax Income+	132.22M	154.6M	159.97M	212.99M	209.34M	206.08M	241.35M	240.31M	168.23M	236.71M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	40.99M	50.78M	9.25M	44.35M	40.27M	41.4M	51.65M	52.23M	36.31M	54.22M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	91.23M	103.81M	150.72M	168.64M	169.06M	164.68M	189.69M	188.08M	131.92M	182.48M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0%	0.14%	0.45%	0.12%	0%	-0.03%	0.15%	-0.01%	-0.3%	0.38%
Net Income (Continuing)	91.23M	103.81M	150.72M	168.64M	169.06M	164.68M	189.69M	188.08M	131.92M	182.48M
EPS (Diluted)+	2.19	2.32	3.03	3.26	3.23	3.08	3.48	3.46	2.45	3.44
EPS Growth %	-0.01%	0.06%	0.31%	0.08%	-0.01%	-0.05%	0.13%	-0.01%	-0.29%	0.4%
EPS (Basic)	2.21	2.34	3.07	3.30	3.26	3.10	3.51	3.48	2.45	3.44
Diluted Shares Outstanding	41.65M	44.75M	49.74M	51.75M	52.25M	53.32M	54.4M	54.21M	53.73M	52.88M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	153.21M	173.86M	221.04M	211.83M	205.03M	1.65B	1.88B	209.9M	190.96M	191.89M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	7.57B	7.66B	9.29B	9.17B	9.89B	10.91B	12.26B	13.98B	13.74B	14.49B
Investments Growth %	0.13%	0.01%	0.21%	-0.01%	0.08%	0.1%	0.12%	0.14%	-0.02%	0.06%
Long-Term Investments	4.76B	4.91B	6.26B	6.24B	6.85B	7.36B	7.33B	9.83B	10.82B	14.18B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	463.25M	465.14M	734.43M	733.5M	773.81M	793.71M	799.11M	841.84M	845.4M	853.23M
Intangible Assets	20.89M	15.7M	90.66M	73.85M	63.11M	52.94M	65.23M	61M	52.59M	48.25M
PP&E (Net)	114.43M	112.32M	123.39M	119.99M	164.64M	165.66M	160.65M	160.78M	173.42M	183.76M
Other Assets	205.5M	212.16M	249.49M	262.96M	281.25M	323.29M	354.96M	524.95M	501.7M	561.79M
Total Current Assets	2.99B	2.95B	3.29B	3.18B	3.28B	5.23B	6.85B	4.41B	3.17B	563.3M
Total Non-Current Assets	5.57B	5.71B	7.46B	7.43B	8.13B	8.7B	8.71B	11.42B	12.39B	15.82B
Total Assets+	8.55B	8.67B	10.75B	10.61B	11.41B	13.93B	15.55B	15.84B	15.56B	16.39B
Asset Growth %	0.14%	0.01%	0.24%	-0.01%	0.08%	0.22%	0.12%	0.02%	-0.02%	0.05%
Return on Assets (ROA)	0.01%	0.01%	0.02%	0.02%	0.02%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	135.1M	144.01M	180.57M	157.46M	215.22M	230.72M	210.8M	133.86M	0	0
Total Debt+	403.45M	248.37M	485.9M	413.68M	344.87M	371.29M	329.88M	1.14B	765.2M	998.87M
Net Debt	250.24M	74.51M	264.86M	201.85M	139.84M	-1.27B	-1.55B	927.88M	574.24M	806.97M
Long-Term Debt	403.45M	102.17M	124.89M	99.92M	94.86M	87.28M	5.17M	22.72M	407.6M	619.31M
Short-Term Debt	0	146.2M	361.01M	313.77M	250.01M	284.01M	324.72M	1.12B	357.6M	379.55M
Other Liabilities	0	0	0	0	0	0	0	0	164.5M	182.64M
Total Current Liabilities	7.01B	7.37B	8.99B	8.79B	9.46B	11.74B	13.45B	14.26B	13.29B	13.82B
Total Non-Current Liabilities	403.45M	102.17M	124.89M	99.92M	94.86M	87.28M	5.17M	22.72M	572.1M	801.95M
Total Liabilities	7.41B	7.47B	9.11B	8.89B	9.56B	11.83B	13.45B	14.28B	13.86B	14.62B
Total Equity+	1.14B	1.2B	1.64B	1.71B	1.86B	2.1B	2.1B	1.55B	1.7B	1.76B
Equity Growth %	0.15%	0.05%	0.36%	0.05%	0.08%	0.13%	-0%	-0.26%	0.09%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.09%	0.11%	0.1%	0.09%	0.08%	0.09%	0.1%	0.08%	0.11%
Book Value per Share	27.38	26.77	32.88	33.12	35.51	39.46	38.62	28.63	31.60	33.33
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	44.44M	44.95M	51.26M	51.58M	51.98M	53.76M	54.09M	54.19M	54.37M	54.7M
Additional Paid-in Capital	528.01M	545.77M	894.88M	911.75M	927.34M	1.03B	1.04B	1.05B	1.06B	1.08B
Retained Earnings	566.59M	614.69M	700.56M	795.56M	882.85M	960.18M	1.06B	1.15B	1.19B	1.28B
Accumulated OCI	19.23M	7.84M	-3.7M	-45.3M	-10.23M	62.08M	-50.63M	-686.44M	-556.89M	-548.09M
Treasury Stock	-17.64M	-15.16M	-21.01M	-11.53M	-6.82M	-6.2M	-10.61M	-26.48M	-55.59M	-100.54M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	119.57M	135.77M	189.67M	221.41M	202.5M	179.48M	202.55M	214.6M	228.42M	242.28M
Operating CF Growth %	-0.02%	0.14%	0.4%	0.17%	-0.09%	-0.11%	0.13%	0.06%	0.06%	0.06%
Net Income	91.23M	103.81M	150.72M	168.64M	169.06M	164.68M	189.69M	188.08M	131.92M	182.48M
Depreciation & Amortization	17.2M	20.39M	33.46M	34.35M	32.23M	30.64M	30.16M	30.43M	28.35M	28.66M
Deferred Taxes	10.72M	13.07M	-28.69M	2.66M	-2.3M	-2.34M	7.99M	1.31M	-7.5M	674K
Other Non-Cash Items	1.9M	1.33M	2.96M	-565K	-4.31M	-2.98M	-33.7M	-6.72M	65.27M	27.97M
Working Capital Changes	-5.68M	-7.61M	26.09M	10.25M	2.54M	-16.94M	2.06M	-6.23M	1.11M	-5.88M
Cash from Investing+	-274.16M	-122M	131.37M	17.5M	-157.05M	-398.72M	-1.53B	-2.14B	335.78M	-835.62M
Purchase of Investments	-503M	-70.58M	-103.68M	-78.16M	-810.32M	-1.12B	-1.96B	-1.39B	-68.08M	-166.18M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	25.5M	-575K	-108.15M	-2.93M	-6.29M	32.89M	-29.98M	-915K	-8.52M	-15.62M
Other Investing	-176.75M	-156.74M	166.63M	-35.41M	-138.78M	-184.74M	49.93M	-1B	-915.81M	-759.84M
Cash from Financing+	169.41M	6.87M	-273.86M	-248.11M	-52.25M	1.66B	1.56B	259.22M	-583.13M	599.38M
Dividends Paid	-49.27M	-55.05M	-62.3M	-71.5M	-80.24M	-87.13M	-91.05M	-93.39M	-95.1M	-95.78M
Share Repurchases	-9.13M	-3.47M	-3.31M	-298K	-286K	-271K	-5.11M	-16.61M	-30.23M	-46.03M
Stock Issued	26.34M	19.43M	14.62M	19M	13.8M	15.88M	9.82M	1.18M	1.01M	7.09M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	-1000K	1000K	-1000K	1000K
Other Financing	238.16M	201.06M	-78.07M	-122.77M	101.56M	1.75B	1.73B	-400.27M	-128.44M	466.17M
Net Change in Cash+	14.81M	20.65M	47.18M	-9.2M	-6.8M	1.44B	229.26M	-1.67B	-18.93M	6.04M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	138.4M	153.21M	173.86M	221.04M	211.83M	205.03M	1.65B	1.88B	209.9M	190.96M
Cash at End	153.21M	173.86M	221.04M	211.83M	205.03M	1.65B	1.88B	209.9M	190.96M	197M
Interest Paid	11.25M	11.27M	13.71M	17.93M	25.43M	21.17M	13.75M	23.4M	100.04M	192.87M
Income Taxes Paid	28.89M	32.24M	41.23M	30.27M	46.46M	39.58M	41.53M	57.13M	41.66M	43.73M
Free Cash Flow+	107.17M	123.33M	178.85M	208.76M	196.82M	164.7M	189.17M	201.68M	209.84M	221.57M
FCF Growth %	-0.01%	0.15%	0.45%	0.17%	-0.06%	-0.16%	0.15%	0.07%	0.04%	0.06%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.57%	8.88%	10.64%	10.07%	9.47%	8.32%	9.02%	10.3%	8.12%	10.55%
Return on Assets (ROA)	1.14%	1.21%	1.55%	1.58%	1.54%	1.3%	1.29%	1.2%	0.84%	1.14%
Net Interest Margin	2.9%	3.16%	2.94%	3.25%	3.15%	2.64%	2.41%	2.66%	2.81%	2.74%
Efficiency Ratio	60.86%	60.54%	65.27%	58.87%	60.36%	60.93%	61.25%	60.4%	62.49%	51.75%
Equity / Assets	13.34%	13.82%	15.22%	16.16%	16.26%	15.1%	13.51%	9.8%	10.92%	10.76%
Book Value / Share	27.38	26.77	32.88	33.12	35.51	39.46	38.62	28.63	31.6	33.33
NII Growth	1.63%	10.26%	15.25%	9.31%	4.09%	2.57%	1.63%	12.34%	3.96%	2.71%
Dividend Payout	54.01%	53.03%	41.34%	42.39%	47.46%	52.91%	48%	49.65%	72.09%	52.49%

Revenue by Segment

	2024
Insurance Services	50.47M
Insurance Services Growth	-
Wealth Management Services	38.67M
Wealth Management Services Growth	-

Frequently Asked Questions

Valuation & Price

Community Bank System, Inc. (CBU) has a price-to-earnings (P/E) ratio of 17.8x. This is roughly in line with market averages.

Growth & Financials

Community Bank System, Inc. (CBU) grew revenue by 24.4% over the past year. This is strong growth.

Yes, Community Bank System, Inc. (CBU) is profitable, generating $194.6M in net income for fiscal year 2024 (19.4% net margin).

Dividend & Returns

Yes, Community Bank System, Inc. (CBU) pays a dividend with a yield of 2.96%. This makes it attractive for income-focused investors.

Community Bank System, Inc. (CBU) has a return on equity (ROE) of 10.5%. This is reasonable for most industries.

Industry Metrics

Community Bank System, Inc. (CBU) has a net interest margin (NIM) of 2.7%. NIM has been under pressure due to interest rate environment.

Community Bank System, Inc. (CBU) has an efficiency ratio of 51.8%. This is excellent, indicating strong cost control.

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