Community Financial System reported second-quarter 2026 net income of $61.3 million, or $1.16 per diluted share, on total revenues of $223.2 million. The company also reported operating net income of $61.5 million, operating diluted EPS of $1.16 and a quarterly net interest margin of 3.46% (3.49% FTE). Management cited continued organic growth, margin expansion and the completed ClearPoint acquisition as contributors to results.

Financial Highlights

  • Total revenues: $223,155 thousand for Q2 2026.
  • Net interest income: $139,144 thousand for Q2 2026; net interest margin 3.46% (3.49% FTE).
  • Net income (GAAP): $61,334 thousand for Q2 2026; diluted earnings per share $1.16.
  • Operating net income (non-GAAP): $61,458 thousand for Q2 2026; operating diluted EPS (non-GAAP) $1.16.
  • Total noninterest expenses: $137,733 thousand for Q2 2026; operating efficiency ratio (non-GAAP) 60.6%.

Business Highlights

  • Completed acquisition of ClearPoint Federal Bank & Trust (closed June 1, 2026), expanding Nottingham Financial Group with ClearPoint Trust; consideration $39.0 million in cash and goodwill recorded of $10.4 million.
  • Loan growth: total ending loans of $11.28 billion at June 30, 2026, up $151.6 million from March 31, 2026 and $763.7 million year-over-year, driven by business and consumer lending growth.
  • Deposit composition and funding: total ending deposits $14.71 billion; 66% of deposits in low- or no-rate checking and savings accounts; quarterly average cost of total deposits 1.07%.
  • Liquidity position: readily available sources of liquidity of $6.74 billion including unpledged securities and borrowing capacity at FHLB and the Federal Reserve discount window.
  • Segment performance: recordkeeping and third-party administration growth in Employee Benefit Services; wealth management revenues benefited from ClearPoint acquisition and higher asset market values; banking segment reported adjusted income before tax of $61.7 million.

Original SEC Filing:

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