COMMUNITY BANK SYSTEM, INC. CBU Income Statement

Community bank system, inc. (CBU)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest income:
Interest and fees on loans
308,210	286,165	253,949	211,467	187,743	185,527	188,197	192,710	192,981	178,703	185,119
Interest and dividends on taxable investments
65,904	63,504	60,159	56,201	52,871	50,247	54,995	65,165	55,634	47,241	40,030
Interest and dividends on nontaxable investments
11,613	13,064	15,347	17,519	19,008	20,446	20,967	23,525	22,354	22,337	23,633
Total interest income
385,727	362,733	329,455	285,187	259,622	256,220	264,159	281,400	270,969	248,281	248,782
Interest expense:
Interest on deposits
20,460	10,658	8,031	7,325	6,971	8,191	10,732	18,162	26,156	30,559	45,776
Interest expense incurred on borrowings excluding junior subordinated long-term debt owed to unconsolidated subsidiary trusts as of the balance sheet date. Such debt places a lender in a lien position behind debt having a higher priority of repayment in liquidation of the entity's assets.
1,848	2,343	1,845	-	-	-	-	-	-	-	-
Interest on subordinated notes payable
346	0	0	-	-	-	-	-	-	-	-
Interest on borrowings
-	-	-	1,017	1,694	1,124	12,813	30,098	29,599	30,078	31,353
Interest on subordinated debt held by unconsolidated subsidiary trusts
3,898	4,677	3,904	2,949	2,537	2,477	2,520	2,716	5,801	5,960	6,153
Total interest expense
26,552	17,678	13,780	11,291	11,202	11,792	26,065	50,976	61,556	66,597	83,282
Net interest income
359,175	345,055	315,675	273,896	248,420	244,428	238,094	230,424	209,413	181,684	165,500
Provision for loan losses
8,430	10,837	10,984	8,076	6,447	7,178	7,992	9,108	4,736	7,205	9,790
Net interest income after provision for credit losses
350,745	334,218	304,691	265,820	241,973	237,250	230,102	221,316	204,677	174,479	155,710
Noninterest revenues:
The non-interest income earned from account activity fees, monthly service fees, check orders, debit and credit card income, ATM fees, Merchant services income and other revenues from processing wire transfers, bill pay service, cashier's checks and foreign exchange.
65,602	70,384	67,896	58,595	52,747	52,756	49,357	46,064	42,334	43,358	41,285
Revenues pertaining to bank-related activities not specified elsewhere.
4,881	4,968	5,466	7,477	4,960	5,814	5,245	4,069	4,651	5,985	5,841
Revenues related to employee benefit services.
97,167	92,279	80,830	46,628	45,388	42,580	38,596	35,946	-31,601	29,616	27,771
Insurance services
32,199	30,317	26,150	23,149	3,352	1,450	-	-	-	-	-
Fee income charged during the period for wealth management services.
25,869	25,772	22,079	19,776	16,856	16,420	15,550	12,876	10,697	9,833	8,631
Unrealized (loss) gain on equity securities
19	657	0	0	-	-	-	-	-	-	-
Loss on debt prepayment
0	-318	0	0	-	-	-87,336	0	-91	-	-
Gain on sales of investment securities, net
4,882	0	2	0	-4	0	80,768	291	30	0	-7
Total noninterest revenues
230,619	224,059	202,423	155,625	123,299	119,020	102,180	99,246	89,222	88,792	83,535
Noninterest expenses:
Salaries and employee benefits
219,916	207,363	186,903	156,396	126,356	123,077	121,629	112,034	102,278	91,399	92,690
Occupancy and equipment
39,850	39,948	35,561	30,078	27,593	27,948	27,045	25,799	24,502	22,933	23,185
Data processing and communications
41,407	39,094	37,579	34,501	30,430	29,294	27,186	23,696	20,525	20,720	20,684
Amortization of intangible assets
15,956	18,155	16,941	5,479	3,663	4,287	4,469	4,607	4,381	5,957	8,170
Legal and professional fees
10,783	10,644	11,576	8,455	6,813	7,247	7,008	7,950	5,889	5,532	5,302
Office supplies and postage
-	-	-	-	6,476	6,270	6,122	5,742	5,246	5,469	5,243
Business development and marketing
11,416	9,383	9,994	7,484	7,204	7,125	6,815	5,919	5,931	5,237	6,086
FDIC insurance premiums
-	-	-	-	3,962	3,899	3,829	3,804	3,920	5,838	8,610
Acquisition expenses
8,608	-769	25,986	1,706	7,037	123	2,181	5,747	4,831	860	1,621
Goodwill Impairment
-	-	-	-	-	-	-	-	-	-	3,079
Other expenses
24,090	21,471	22,609	22,749	13,521	17,310	14,971	16,459	12,869	12,941	11,508
Total noninterest expenses
372,026	345,289	347,149	266,848	233,055	226,580	221,255	211,757	190,372	176,886	186,178
Income before income taxes
209,338	212,988	159,965	154,597	132,217	129,690	111,027	108,805	103,527	86,385	53,067
Income taxes
40,275	44,347	9,248	50,785	40,987	38,337	32,198	31,737	30,385	23,065	11,622
Net income
169,063	168,641	150,717	103,812	91,230	91,353	78,829	77,068	73,142	63,320	41,445
Basic earnings per share (in dollars per share)
3.26	3.28	3.07	2.34	2.21	2.24	1.96	1.95	2.03	1.91	1.26
Diluted earnings per share (in dollars per share)
3.23	3.24	3.03	2.32	2.19	2.22	1.94	1.93	2.01	1.89	1.26
Cash dividends declared per share (in dollars per share)
-	-	-	1.26	1.22	1.16	1.10	-	-	0.94	0.88