COMMUNITY BANK SYSTEM INC

For the period ended Dec 31, 2023. Filed Feb 29, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 29, 2024

CBU$64.88-1.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Condition

(In Thousands, Except Share Data)


· · December 31,
· 2023 · 2022
Assets: · ·
Cash and cash equivalents	$190,962	$209,896
Available-for-sale investment securities includes pledged securities that can be sold or repledged of $598,873 and $466,902, respectively (cost of $3,301,607 and $4,675,474, respectively)	2,919,992	4,151,851
Held-to-maturity securities (fair value of $1,121,816 and $1,034,795, respectively)	1,172,174	1,079,695
Equity and other securities (cost of $72,275 and $82,424, respectively)	73,146	83,342

Loans	9,704,598	8,809,394
Allowance for credit losses	(66,669)	(61,059)
Loans, net of allowance for credit losses	9,637,929	8,748,335

Goodwill	845,396	841,841
Core deposit intangibles, net	8,159	12,304
Other intangibles, net	44,432	48,692
Goodwill and intangible assets, net	897,987	902,837

Premises and equipment, net	173,418	160,778
Accrued interest and fees receivable	54,534	52,613
Other assets	435,611	446,304

Total assets	$15,555,753	$15,835,651

Liabilities:
Noninterest-bearing deposits	$3,638,527	$4,140,617
Interest-bearing deposits	9,289,594	8,871,691
Total deposits	12,928,121	13,012,308

Overnight borrowings	53,000	768,400
Securities sold under agreement to repurchase, short-term	304,595	346,652
Other Federal Home Loan Bank borrowings	407,603	19,474
Subordinated notes payable	0	3,249
Accrued interest and other liabilities	164,497	133,863
Total liabilities	13,857,816	14,283,946

Commitments and contingencies (See Note M)

Shareholders’ equity:
Preferred stock, $1.00 par value, 500,000 shares authorized, 0 shares issued	0	0
Common stock, $1.00 par value, 75,000,000 shares authorized; 54,372,292 and 54,190,201 shares issued, respectively	54,372	54,190
Additional paid-in capital	1,060,289	1,050,231
Retained earnings	1,188,869	1,152,452
Accumulated other comprehensive loss	(556,892)	(686,439)
Treasury stock, at cost (1,045,232 shares including 120,556 shares held by deferred compensation arrangements at December 31, 2023, and 452,952 shares including 135,437 shares held by deferred compensation arrangements at December 31, 2022)	(55,592)	(26,485)
Deferred compensation arrangements (120,556 shares at December 31, 2023 and 135,437 shares at December 31, 2022)	6,891	7,756
Total shareholders’ equity	1,697,937	1,551,705

Total liabilities and shareholders’ equity	$15,555,753	$15,835,651

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.