DEWITT, N.Y. (AP) — DEWITT, N.Y. (AP) — Community Bank System Inc. (CBU) on Tuesday reported first-quarter profit of $5.8 million.
The bank, based in Dewitt, New York, said it had earnings of 11 cents per share. Earnings, adjusted for non-recurring costs, were 86 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.
The bank holding company posted revenue of $139.4 million in the period. Its revenue net of interest expense was $124.5 million, also missing Street forecasts.
Community Bank shares have fallen 25% since the beginning of the year. The stock has fallen 30% in the last 12 months.
_____
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
Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
