Community Bank: Q1 Earnings Snapshot

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DEWITT, N.Y. (AP) — DEWITT, N.Y. (AP) — Community Bank System Inc. (CBU) on Tuesday reported first-quarter earnings of $40.9 million.

The bank, based in Dewitt, New York, said it had earnings of 76 cents per share. Earnings, adjusted for non-recurring costs, came to 82 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 79 cents per share.

The bank holding company posted revenue of $222.9 million in the period. Its revenue net of interest expense was $178.3 million, falling short of Street forecasts.

Community Bank shares have fallen 15% since the beginning of the year. The stock has dropped roughly 8% 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