Community Financial System Q3 EPS rises on higher net interest income
CBU•Community Financial System reported third-quarter EPS of $1.27 and net interest income of $143.54 million, up 12% year over year.
1. Quarterly results
Community Financial System reported third-quarter EPS of $1.27 and net interest income of $143.54 million. Net interest income rose 12% year over year, driven by lower funding costs, organic loan growth and redeployment of Treasury-sale proceeds into debt repayment.
2. Fee income and outlook
Higher asset values, revenue from the ClearPoint acquisition, debit interchange fees and seasonal insurance renewals supported noninterest revenues. The company did not provide specific financial guidance for future quarters or full-year results in its press release.
