COMMUNITY FINANCIAL SYSTEM INC
For the period ended Dec 31, 2024. Filed Feb 28, 2025.
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FY2024 · Filed Feb 28, 2025
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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Consolidated Statements of Comprehensive Income (Loss)
(In Thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Years Ended December 31, | |||||||||
| | 2024 | 2023 | 2022 | ||||||
| | | | | | | | | | |
| Pension and other post - retirement obligations: · · · | |||||||||
| Amortization of actuarial losses (gains) included in net periodic pension cost and (increase) decrease in unrecognized actuarial (gain) loss, gross | | $12,168 | | $4,774 | | $(21,587) | |||
| Tax effect | | (3,038) | (1,162) | 5,243 | |||||
| Amortization of actuarial losses (gains) included in net periodic pension cost and (increase) decrease in unrecognized actuarial (gain) loss, net | | 9,130 | | 3,612 | | (16,344) | |||
| | | | | | | | | | |
| Amortization of prior service cost included in net periodic pension cost, gross | | 641 | | 641 | | 678 | |||
| Tax effect | | (160) | (156) | (165) | |||||
| Amortization of prior service cost included in net periodic pension cost, net | | 481 | | 485 | | 513 | |||
| | | | | | | | | | |
| Other comprehensive income (loss) related to pension and other post-retirement obligations, net of taxes | | 9,611 | | 4,097 | | (15,831) | |||
| | | | | | | | | | |
| Net unrealized (losses) gains on investment securities: | | | |||||||
| Net unrealized holding (losses) gains on investment securities, gross | | (1,570) | 113,464 | (818,890) | |||||
| Tax effect | | 401 | | (27,629) | | 198,909 | |||
| Net unrealized holding (losses) gains on investment securities, net | | (1,169) | 85,835 | (619,981) | |||||
| | | | | | | | | | |
| Reclassification adjustment for net losses included in net income, gross | | 487 | | 52,329 | | 0 | |||
| Tax effect | | (122) | (12,714) | 0 | |||||
| Reclassification adjustment for net losses included in net income, net | | 365 | | 39,615 | | 0 | |||
| | | | | | | | | | |
| Other comprehensive (loss) income related to unrealized (losses) gains on investment securities, net of taxes | | (804) | | 125,450 | | (619,981) | |||
| Other comprehensive income (loss), net of tax | | 8,807 | 129,547 | (635,812) | |||||
| Net income | | 182,481 | 131,924 | 188,081 | |||||
| Comprehensive income (loss) | | $191,288 | $261,471 | $(447,731) | |||||
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| | As of December 31, | |||||||
| · 2024 · 2023 · 2022 | ||||||||
| Accumulated Other Comprehensive Loss by Component: · · · | ||||||||
| Unrealized loss for pension and other post-retirement obligations | $(23,309) | | $(36,118) | | $(41,533) | |||
| Tax effect | 5,716 | 8,914 | 10,232 | |||||
| Net unrealized loss for pension and other post-retirement obligations | (17,593) | | (27,204) | | (31,301) | |||
| | | | | | | | | |
| Unrealized loss on investment securities | (700,073) | (698,990) | | (864,783) | ||||
| Tax effect | 169,581 | | 169,302 | 209,645 | ||||
| Net unrealized loss on investment securities | (530,492) | (529,688) | | (655,138) | ||||
| | | | | | | | | |
| Accumulated other comprehensive loss | $(548,085) | | $(556,892) | | $(686,439) | |||
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