COMMUNITY BANK SYSTEM, INC. CBU Income Statement

Community bank system, inc. (CBU)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest income:
Interest and fees on loans
313,072	308,210	301,017	293,342	290,427	286,165	282,565	279,807	271,006	253,949	237,835	222,043	212,201	211,467	207,186	200,520	193,802	187,743	185,300	185,143	185,425	185,527	185,710	186,433	186,772	188,197	190,541	191,525	192,190	192,710	193,816	195,928	198,322	192,981	187,564	181,713	0	0	0
Interest and dividends on taxable investments
65,146	65,904	65,417	64,976	64,066	63,504	63,653	63,460	62,118	60,159	59,214	57,330	56,171	56,201	55,025	55,135	54,407	52,871	51,568	50,353	49,837	50,247	51,300	52,455	52,249	54,995	57,854	61,222	66,106	65,165	62,974	60,490	57,680	55,634	53,075	50,965	0	0	0
Interest and dividends on nontaxable investments
11,823	11,613	11,667	12,039	12,517	13,064	13,682	14,217	14,777	15,347	15,817	16,328	17,017	17,519	17,981	18,499	18,715	19,008	19,335	19,710	20,173	20,446	20,587	20,554	20,452	20,967	21,752	22,662	23,518	23,525	23,074	22,470	22,191	22,354	22,513	22,679	0	0	0
Total interest income
390,041	385,727	378,101	370,357	367,010	362,733	359,900	357,484	347,901	329,455	312,866	295,701	285,389	285,187	280,192	274,154	266,924	259,622	256,203	255,206	255,435	256,220	257,597	259,442	259,473	264,159	270,147	275,409	281,814	281,400	279,864	278,888	278,193	270,969	263,152	255,357	0	0	0
Interest expense:
Interest on deposits
21,898	20,460	17,907	14,812	12,633	10,658	9,390	8,749	8,433	8,031	7,701	7,354	7,161	7,325	7,288	7,206	7,065	6,971	7,151	7,419	7,756	8,191	8,622	9,190	9,825	10,732	12,246	14,118	15,795	18,162	20,763	23,248	25,659	26,156	26,980	27,840	0	0	0
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.
1,785	1,848	2,018	2,467	2,484	2,343	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on subordinated notes payable
0	-	0	-	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on borrowings
-	-	-	-	-	-	-	-	-	-	1,626	1,061	879	1,017	1,447	1,697	1,781	1,694	1,359	1,080	1,040	1,124	3,186	5,246	7,367	12,813	17,923	23,090	28,428	30,098	30,101	30,032	29,708	29,599	29,614	29,594	0	0	0
Interest on subordinated debt held by unconsolidated subsidiary trusts
3,457	3,898	4,193	4,334	4,603	4,677	4,741	4,663	4,267	3,904	3,595	3,274	3,060	2,949	2,818	2,712	2,617	2,537	2,506	2,489	2,479	2,477	2,481	2,491	2,504	2,520	2,551	2,600	2,651	2,716	3,410	4,225	5,027	5,801	5,956	5,944	0	0	0
Total interest expense
27,671	26,552	24,279	21,613	19,720	17,678	16,255	15,642	14,876	13,780	12,922	11,689	11,100	11,291	11,553	11,615	11,463	11,202	11,016	10,988	11,275	11,792	14,289	16,927	19,696	26,065	32,720	39,808	46,874	50,976	54,274	57,505	60,394	61,556	62,550	63,378	0	0	0
Net interest income
362,370	359,175	353,822	348,744	347,290	345,055	343,645	341,842	333,025	315,675	299,944	284,012	274,289	273,896	268,639	262,539	255,461	248,420	245,187	244,218	244,160	244,428	243,308	242,515	239,777	238,094	237,427	235,601	234,940	230,424	225,590	221,383	217,799	209,413	200,602	191,979	0	0	0
Provision for loan losses
11,602	8,430	8,068	8,532	9,580	10,837	13,723	13,822	12,835	10,984	8,243	7,719	8,563	8,076	8,763	8,879	7,165	6,447	5,651	5,492	6,801	7,178	7,832	8,178	7,599	7,992	7,473	8,023	8,857	9,108	8,035	6,435	5,330	4,736	4,543	5,550	0	0	0
Net interest income after provision for credit losses
350,768	350,745	345,754	340,212	337,710	334,218	329,922	328,020	320,190	304,691	291,701	276,293	265,726	265,820	259,876	253,660	248,296	241,973	239,536	238,726	237,359	237,250	235,476	234,337	232,178	230,102	229,954	227,578	226,083	221,316	217,555	214,948	212,469	204,677	196,059	186,429	0	0	0
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.
66,021	65,602	64,896	64,103	67,071	70,384	72,383	74,675	72,366	67,896	64,740	61,215	59,568	58,595	57,241	55,806	54,011	52,747	52,638	53,012	52,971	52,756	51,974	50,844	50,017	49,357	49,246	48,600	47,290	46,064	44,488	43,565	43,018	42,334	42,487	42,690	0	0	0
The noninterest income derived from mortgage banking activities including servicing fees. Also includes the gain/loss on sale of loans. In addition, includes the adjustment to the carrying value of the rights retained or purchased to service mortgages. These adjustments are made on a lower of cost or market value basis.
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Revenues pertaining to bank-related activities not specified elsewhere.
4,441	4,881	4,453	5,044	5,060	4,968	5,138	5,306	5,550	5,466	5,708	6,867	7,057	7,477	7,100	6,282	5,484	4,960	5,048	4,870	5,679	5,814	6,181	5,985	5,397	5,245	4,503	4,237	4,113	4,069	4,026	4,120	4,851	4,651	5,998	5,614	0	0	0
Revenues related to employee benefit services.
98,479	97,167	95,636	94,572	93,327	92,279	91,025	88,527	86,647	80,830	70,297	60,797	51,806	46,628	46,610	46,673	46,324	45,388	44,669	44,094	43,220	42,580	41,670	40,312	39,261	38,596	37,961	37,476	36,743	35,946	-28,774	-30,001	-30,811	-31,601	30,978	30,553	0	0	0
Insurance services
32,395	32,199	31,991	31,734	30,820	30,317	29,485	27,559	27,109	26,150	25,518	24,876	23,708	23,149	19,601	14,266	8,794	3,352	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Fee income charged during the period for wealth management services.
26,654	25,869	25,692	25,497	25,415	25,772	25,344	24,883	23,924	22,079	20,840	20,359	19,521	19,776	19,605	18,564	17,925	16,856	15,183	15,615	15,993	16,420	17,513	16,719	16,326	15,550	15,015	14,386	13,442	12,876	12,258	11,968	11,649	10,697	10,266	10,028	0	0	0
Unrealized (loss) gain on equity securities
-42	19	-37	696	688	657	722	-21	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Loss on debt prepayment
-	-	0	-	-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-87,336	-63,500	-63,500	-47,783	0	0	0	0	-	-	-	-	-	-
Gain on sales of investment securities, net
-	-	0	0	-	-	0	0	-	2	2	2	2	0	0	0	0	-	-	-	-	-	-	-	-	80,768	63,799	64,090	48,082	291	285	8	0	-	0	0	-	0	0
Total noninterest revenues
233,545	230,619	227,714	226,411	222,264	224,059	223,779	220,929	215,596	202,423	187,105	174,116	161,662	155,625	150,153	141,587	132,534	123,299	120,079	119,765	119,712	119,020	110,471	106,993	104,425	102,180	107,024	105,289	101,887	99,246	95,422	92,779	91,848	89,222	89,737	88,899	0	0	0
Noninterest expenses:
Salaries and employee benefits
224,788	219,916	215,488	210,489	208,883	207,363	204,329	201,693	195,855	186,903	178,905	168,779	160,165	156,396	148,526	141,405	134,465	126,356	124,205	123,967	123,366	123,077	122,502	122,009	121,886	121,629	120,856	118,534	115,092	112,034	109,488	107,905	106,592	102,278	98,241	94,207	0	0	0
Occupancy and equipment
40,301	39,850	39,918	39,887	39,705	39,948	39,360	38,696	37,896	35,561	33,572	31,839	30,611	30,078	29,147	28,426	27,861	27,593	27,615	27,580	27,652	27,948	28,006	27,837	27,671	27,045	26,928	27,021	26,401	25,799	25,223	24,785	24,908	24,502	23,988	23,499	0	0	0
Data processing and communications
42,421	41,407	40,106	39,940	39,751	39,094	38,813	37,617	37,800	37,579	36,842	36,273	34,610	34,501	34,212	33,111	31,852	30,430	29,871	29,703	29,481	29,294	28,381	27,904	27,253	27,186	26,545	25,632	24,849	23,696	22,730	21,975	21,337	20,525	20,710	20,689	0	0	0
Amortization of intangible assets
15,493	15,956	16,369	16,836	17,487	18,155	18,741	19,263	18,971	16,941	13,255	9,665	6,805	5,479	5,225	4,709	4,186	3,663	3,636	3,844	4,065	4,287	4,354	4,392	4,431	4,469	4,672	4,795	4,700	4,607	4,473	4,422	4,566	4,381	4,528	5,216	0	0	0
Legal and professional fees
11,214	10,783	10,595	10,522	10,583	10,644	11,827	12,069	11,943	11,576	9,951	9,115	8,353	8,455	8,162	7,798	7,583	6,813	6,772	7,181	7,046	7,247	7,072	6,996	7,015	7,008	7,647	7,453	7,682	7,950	7,269	7,206	6,758	5,889	5,300	5,165	0	0	0
Office supplies and postage
-	-	-	-	-	-	-	-	-	-	-	-	7,170	-	7,080	7,003	6,674	6,476	6,339	6,169	6,299	6,270	6,207	6,307	6,178	6,122	6,126	5,905	5,769	5,742	5,568	5,523	5,518	5,246	5,255	5,266	0	0	0
Business development and marketing
11,141	11,416	10,615	10,598	10,112	9,383	10,176	10,175	9,972	9,994	8,436	7,854	7,552	7,484	7,659	7,544	7,653	7,204	7,412	7,287	6,959	7,125	6,983	7,192	7,066	6,815	6,815	6,154	6,226	5,919	5,758	5,542	5,849	5,931	5,783	6,418	0	0	0
FDIC insurance premiums
-	-	-	-	-	-	-	-	-	-	-	-	3,323	-	3,940	4,201	4,074	3,962	3,901	3,885	3,869	3,899	3,824	3,795	3,793	3,829	3,999	3,995	3,953	3,804	3,566	3,191	3,465	3,920	0	0	0	-	0
Acquisition expenses
8,443	8,608	7,789	896	-227	-769	25	1,437	24,262	25,986	26,556	25,978	3,345	1,706	6,061	6,621	6,719	7,037	-1,482	756	395	123	5,028	2,299	2,299	2,181	603	5,328	5,492	5,747	5,362	947	4,400	4,831	4,746	4,564	0	0	0
Other expenses
23,236	24,090	23,490	23,506	21,316	21,471	23,751	24,615	25,633	22,609	25,118	23,162	21,765	22,749	15,219	14,266	13,709	13,521	16,490	17,119	17,475	17,310	14,822	14,681	15,032	14,971	16,680	17,095	16,742	16,459	13,258	13,207	13,066	12,869	15,254	13,967	0	0	0
Total noninterest expenses
377,037	372,026	364,370	352,674	347,610	345,289	344,595	343,138	359,905	347,149	326,827	309,277	272,754	266,848	265,231	255,084	244,776	233,055	224,759	227,491	226,607	226,580	227,179	223,412	222,624	221,255	220,871	221,912	216,906	211,757	202,695	194,703	196,459	190,372	186,887	183,014	0	0	0
Income before income taxes
207,276	209,338	209,098	213,949	212,364	212,988	209,106	205,811	175,881	159,965	151,979	141,132	154,634	154,597	144,798	140,163	136,054	132,217	134,856	131,000	130,464	129,690	118,768	117,918	113,979	111,027	116,107	110,955	111,064	108,805	110,282	113,024	107,858	103,527	98,909	92,314	0	0	0
Income taxes
40,025	40,275	42,096	43,059	41,883	44,347	9,262	13,830	11,315	9,248	46,896	44,132	48,968	50,785	47,307	44,810	42,718	40,987	40,564	39,359	38,987	38,337	35,071	34,603	33,218	32,198	33,951	32,421	32,581	31,737	33,030	34,131	32,050	30,385	27,493	24,744	0	0	0
Net income
167,251	169,063	167,002	170,890	170,481	168,641	199,844	191,981	164,566	150,717	105,083	97,000	105,666	103,812	97,491	95,353	93,336	91,230	94,292	91,641	91,477	91,353	83,697	83,315	80,761	78,829	82,156	78,534	78,483	77,068	77,252	78,893	75,808	73,142	71,416	67,570	0	0	0
Basic earnings per share (in dollars per share)
0.77	0.82	0.76	0.87	0.81	0.79	0.84	0.87	0.78	1.45	0.69	0.35	0.58	0.60	0.61	0.58	0.55	0.47	0.61	0.58	0.55	0.56	0.55	0.58	0.55	0.37	0.55	0.53	0.51	0.47	0.46	0.53	0.49	0.52	0.54	0.49	0.48	0.52	0.49
Diluted earnings per share (in dollars per share)
0.76	0.82	0.75	0.86	0.80	0.77	0.83	0.86	0.78	1.43	0.68	0.35	0.57	0.58	0.61	0.58	0.55	0.47	0.60	0.58	0.54	0.57	0.54	0.57	0.54	0.38	0.54	0.52	0.50	0.46	0.46	0.53	0.48	0.50	0.54	0.49	0.48	0.51	0.48
Cash dividends declared per share (in dollars per share)
-	-	-	-	-	-	-	-	-	-	0.34	0.32	0.32	0.32	0.32	0.31	0.31	0.31	0.31	0.30	0.30	0.30	0.30	0.28	0.28	0.28	0.28	0.27	0.27	-	-	-	0.26	-	0.26	0.24	0.24	0.24	0.24