COMMUNITY FINANCIAL SYSTEM INC

For the period ended Dec 31, 2024. Filed Feb 28, 2025.

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.

FY2024 · Filed Feb 28, 2025

CBU$65.78+1.6%Stored close · as of Nov 9, 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,
· 2024 · 2023
Assets: · ·
Cash and cash equivalents (includes restricted cash of $5,110 and $0, respectively)	$197,004	$190,962
Available-for-sale investment securities, includes pledged securities that can be sold or repledged of $362,129 and $598,873, respectively (cost of $3,192,392 and $3,301,607, respectively)	2,785,714	2,919,992
Held-to-maturity securities (fair value of $1,220,168 and $1,121,816, respectively)	1,345,155	1,172,174
Equity and other securities	87,517	73,146

Loans	10,432,365	9,704,598
Allowance for credit losses	(79,114)	(66,669)
Loans, net of allowance for credit losses	10,353,251	9,637,929

Goodwill	853,225	845,396
Core deposit intangibles, net	5,148	8,159
Other intangibles, net	43,098	44,432
Goodwill and intangible assets, net	901,471	897,987

Premises and equipment, net	183,759	173,418
Accrued interest and fees receivable	54,340	54,534
Other assets	477,833	435,611

Total assets	$16,386,044	$15,555,753

Liabilities:
Noninterest-bearing deposits	$3,557,219	$3,638,527
Interest-bearing deposits	9,884,488	9,289,594
Total deposits	13,441,707	12,928,121

Overnight borrowings	118,000	53,000
Securities sold under agreement to repurchase, short-term	261,553	304,595
Federal Home Loan Bank and other borrowings	619,312	407,603
Accrued interest and other liabilities	182,637	164,497
Total liabilities	14,623,209	13,857,816

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; 54,696,208 and 54,372,292 shares issued, respectively	54,696	54,372
Additional paid-in capital	1,075,537	1,060,289
Retained earnings	1,275,331	1,188,869
Accumulated other comprehensive loss	(548,085)	(556,892)
Treasury stock, at cost (2,028,372 shares including 103,696 shares held by deferred compensation arrangements at December 31, 2024, and 1,045,232 shares including 120,556 shares held by deferred compensation arrangements at December 31, 2023)	(100,539)	(55,592)
Deferred compensation arrangements (103,696 shares at December 31, 2024 and 120,556 shares at December 31, 2023)	5,895	6,891
Total shareholders’ equity	1,762,835	1,697,937

Total liabilities and shareholders’ equity	$16,386,044	$15,555,753

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.