DEWITT, N.Y. (AP) — DEWITT, N.Y. (AP) — Community Financial System, Inc. (CBU) on Tuesday reported fourth-quarter profit of $54.4 million.
On a per-share basis, the Dewitt, New York-based company said it had net income of $1.03. Earnings, adjusted for one-time gains and costs, came to $1.07 per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.13 per share.
The bank holding company posted revenue of $263.5 million in the period. Its adjusted revenue was $216.3 million, topping Street forecasts. Three analysts surveyed by Zacks expected $213.3 million.
For the year, the company reported profit of $210.5 million, or $3.97 per share. Revenue was reported as $821.5 million.
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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
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