Community Bank: Q4 Earnings Snapshot
DEWITT, N.Y. (AP) _ Community Bank System Inc. (CBU) on Tuesday reported fourth-quarter profit of $52.5 million.
The Dewitt, New York-based bank said it had earnings of 97 cents per share. Earnings, adjusted for non-recurring gains, came to 96 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The bank holding company posted revenue of $187.7 million in the period. Its revenue net of interest expense was $175.9 million, which missed Street forecasts.
For the year, the company reported profit of $188.1 million, or $3.46 per share. Revenue was reported as $679.4 million.
Community Bank shares have declined slightly more than 3% since the beginning of the year. The stock has decreased 14% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBU at https://www.zacks.com/ap/CBU