Community Bank System Inc (NYSE:CBU)
$ 47.23 -0.04 (-0.08%) Market Cap: 2.49 Bil Enterprise Value: 2.55 Bil PE Ratio: 14.85 PB Ratio: 1.50 GF Score: 69/100
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Q3 2023 Community Bank System Inc Earnings Call Transcript

Oct 24, 2023 / 03:00PM GMT
Release Date Price: $37.57 (-5.44%)
Operator

Good day and welcome to the Community Bank's 2023 Third Quarter Earnings Conference Call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Dimitar Karaivanov, Chief Operating Officer of Community Bank. Please go ahead.

Dimitar A. Karaivanov
Community Bank System, Inc. - Executive VP & COO

Thank you, Marliese, and good morning, everybody. Welcome to our conference call for the third quarter of 2023.

As Mark noted in the press release, the company's revenue performance was strong in the quarter. In fact, our revenue has been quite consistent over the past 5 quarters, regardless of all the macroeconomic and banking industry noise. This is a great example of the diversification of our business and the focus on lowering volatility for our investors. On the flip side, this quarter we had expense pressures that were above our expectations as well. Some of those are transient. Some of those are due to the general inflation pressures, which should abate and some are function of the

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