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Community Bank System Q3 Profit Rises, Meets View
(RTTNews) - Community Bank System Inc. (CBU) reported Monday that its third quarter net income increased to $48.69 million or $0.90 per share from $45.34 million or $0.83 per share in the prior-year quarter. Excluding item, operating earnings were also $0.90 per share.
On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.90 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter grew 11.9 percent to $175.6 million from last year. Analysts expected revenues of $174.08 million for the quarter.
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Community Bank System Promotes COO Dimitar Karaivanov To Succeed Mark Tryniski As President And CEO
Community Bank System, Inc. (CBU) announced Wednesday that Mark Tryniski will retire as the Company's President and Chief Executive Officer, effective as of December 31, 2023. He joined the Company in 2003 as Chief Financial Officer and has been at the helm of the company and its wholly owned banking subsidiary, Community Bank, N.A. since August 2006.
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The New Zealand dollar weakened against other major currencies in the European session on Friday.
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The Japanese yen strengthened against other major currencies in the Asian session on Friday.
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European Economic News Preview: UK Retail Sales & PSNB Data Due
Retail sales and public sector finance from the UK and business confidence from France are the top economic news due on Friday. At 2.00 am ET, the Office for National Statistics publishes UK retail sales and public sector finance figures. Retail sales are forecast to grow 0.4 percent on a monthly basis in August, slower than the 0.6 percent rise in July.
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