Community Bank System

CBU · NYSE · Financials · Financials, fiscal 2016 to 2025

CBU · Last close · November 6, 2026

$64.74

Community Bank System's revenue rose 9.6% to $818 million in fiscal 2025. Net income was $210 million, up 15.3%. Its return on equity was 11.2%, up from 10.6% a year earlier. Its efficiency ratio was 63.7%, down from 65.2% a year earlier. It paid out $109 million in dividends and buybacks. The diluted share count fell 0.1%.

COMMUNITY FINANCIAL SYSTEM, INC. Latest fiscal year ended December 31, 2025 10-K filed February 27, 2026 · 0001104659-26-021651 Updated November 7, 2026

Revenue

$818M

9.6%

Net income

$210M

15.3%

Return on equity

11.2%

0.6 pts

Return on tangible equity

20.7%

0.6 pts

Efficiency ratio

63.7%

1.5 pts

Market cap

$3.4B

Nov 6 close

P/E

14.6x

On $4.43 EPS, 4 qtrs

Return on equity is net income as a share of shareholders' equity; return on tangible equity leaves out goodwill and other intangible assets. The efficiency ratio is operating costs as a share of revenue, so lower means the bank spends less to earn each dollar. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What Community Bank System does

Community Financial System is the holding company for Community Bank, N.A. and for Benefit Plans Administrative Services (BPAS). It describes itself as a diversified financial services company that serves retail, commercial, institutional and government customers. Its principal office is in Syracuse, New York.

The bank has 192 full-service branches and a few drive-thru locations across Upstate New York, northeastern Pennsylvania, Vermont, western Massachusetts and southern New Hampshire. It takes deposits and makes loans, and earns interest and fees. BPAS and its subsidiaries earn fees from employee benefit businesses: retirement plan administration, institutional transfer agency and recordkeeping, fund administration, trust services, and actuarial and benefit consulting.

The company competes in banking by stressing local character, knowledge of customers and quick local decisions. Its benefits and trust business competes nationally with large firms, and the company says this adds geographic diversification. Most of its employees work in New York, Pennsylvania and New England.

Its biggest risks, as it describes them

Interest rate changes that could squeeze what it earns on loans after paying for deposits.
Losing deposits or funding, including to alternatives such as stablecoins.
Setting aside too little for loans that are not repaid.
Relying on dividends from the Bank and BPAS, which regulators can limit.
Competition for deposits and for benefit plan and trust clients.

From Community Bank System's annual report on Form 10-K, filed February 27, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both. Revenue is net of interest expense.

Revenue (left axis)Net income (right axis)

Efficiency ratio and net interest income

Percent of revenue. The efficiency ratio is noninterest expense over revenue.

Efficiency ratioNet interest income share

From fiscal 2016 to 2025, earnings per share grew 6.2% a year and net income 8.2% a year, as new shares raised the share count by 19% and diluted each share's earnings.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Return on equity

Percent. Net income over average equity; tangible equity excludes goodwill, intangibles and preferred stock.

Return on equityReturn on tangible common equity

Balance sheet

Loans and deposits

US$ billions, at each fiscal year end

Loans, netDeposits

Total assets and shareholders' equity

US$ billions, at each fiscal year end. Assets on the left axis, equity on the right.

Total assets (left axis)Equity (right axis)

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Loans, net	7,324	8,748	9,638	10,353	10,862
Deposits	12,911	13,012	12,928	13,442	14,387
Loans to deposits	56.7%	67.2%	74.5%	77.0%	75.5%
Provision for credit losses	−9	15	11	23	21
Provision to average loans	−0.1%	0.2%	0.1%	0.2%	0.2%
Total assets	15,553	15,836	15,556	16,386	17,303
Shareholders' equity	2,101	1,552	1,698	1,763	2,006

US$ millions unless stated, at each fiscal year end.

Cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Community Bank System's revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them. Every projected figure is yours: it is not a forecast of ours.

Open Community Bank System's projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, 3 insiders bought $75,263 of Community Bank System shares on the open market, and 5 insiders sold $1.8 million.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Sep 9, 2026	Savneet SinghDirector	Bought	400	$62.47	$24,988	Form 4
Aug 27, 2026	John A VaccaroDirector	Bought	317	$63.11	$20,006	Form 4
Aug 24, 2026	Brenda M HallDirector	Bought	476	$63.59	$30,269	Form 4
Jun 25, 2026	Mark J. BolusDirector	Sold	12,191	$67.00	$816,786	Form 4
Jun 8, 2026	Eric StickelsDirector	Sold	2,000	$63.98	$127,960	Form 4
Feb 4, 2026	John F. WhippleDirector	Sold	4,246	$65.17	$276,712	Form 4
Feb 3, 2026	Sally A SteeleDirector	Sold	4,000	$64.12	$256,480	Form 4
Feb 3, 2026	Eric StickelsDirector	Sold	2,000	$64.75	$129,500	Form 4
Dec 29, 2025	Maureen A Gillan-MyerEVP, Chief Admin & HR Officer	Sold	3,450	$58.85	$203,054	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Compare

Put Community Bank System side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Net margin	Return on equity	Return on tangible equity	Efficiency ratio	Compare
Community Bank System	FY25	9.6%	25.7%	11.2%	20.7%	63.7%
Cathay General Bancorp	FY25	12.1%	38.5%	10.9%	12.6%	43.4%	Compare
Customers Bancorp	FY25	14.5%	27.4%	11.3%	11.0%	52.8%	Compare
Trustmark	FY25	42.6%	28.0%	11.0%	13.1%	64.0%	Compare
Pathward Financial	FY25	5.3%	22.1%	22.1%	34.5%	66.7%	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly.

10 years of figures

Fiscal year	FY16	FY17	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	430	518	569	590	597	621	679	652	746	818
Revenue growth	15.6%	20.6%	9.8%	3.6%	1.2%	4.0%	9.5%	−4.0%	14.4%	9.6%
Net interest income	274	316	345	359	368	374	421	437	449	506
Noninterest income	156	202	224	231	228	246	259	215	297	312
Noninterest expense	267	347	345	372	376	388	424	473	487	521
Provision for credit losses	—	—	11	8	14	−9	15	11	23	21
Net income	104	151	169	169	165	190	188	132	182	210
Diluted EPS (US$)	2.32	3.03	3.24	3.23	3.08	3.48	3.46	2.45	3.44	3.97
Diluted shares (millions)	44	50	52	52	53	54	54	54	53	53
Payouts
Dividends paid	55	62	72	80	87	91	93	95	96	98
Share buybacks	4	3	0	0	0	5	17	30	46	11
Balance sheet at fiscal year end
Loans, net	4,901	6,209	6,232	6,841	7,355	7,324	8,748	9,638	10,353	10,862
Deposits	7,076	8,444	8,322	8,995	11,225	12,911	13,012	12,928	13,442	14,387
Total assets	8,666	10,746	10,607	11,410	13,931	15,553	15,836	15,556	16,386	17,303
Shareholders' equity	1,198	1,635	1,714	1,855	2,104	2,101	1,552	1,698	1,763	2,006
Ratios
Return on equity	8.9%	10.6%	10.1%	9.5%	8.3%	9.0%	10.3%	8.1%	10.6%	11.2%
Return on tangible common equity	14.8%	19.7%	19.6%	17.5%	14.4%	15.2%	19.9%	18.1%	21.3%	20.7%
Return on assets	1.2%	1.6%	1.6%	1.5%	1.3%	1.3%	1.2%	0.8%	1.1%	1.2%
Efficiency ratio	62.1%	67.0%	60.7%	63.1%	63.1%	62.5%	62.5%	72.5%	65.2%	63.7%

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Community Bank System's Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Community Bank System.