Community Bank System (CBU), a provider of banking and financial services to retail, commercial, and municipal customers, has disclosed 1.74 percent rise in profit for the quarter ended Sep. 30, 2014. The company earned $22.37 million or $0.54 a share in the third quarter compared with $21.99 million or $0.54 a share, a year ago.
Revenue during the third-quarter grew 4.84 percent to $92.47 million from $88.20 million in the last year period.
Net interest income for the quarter rose 1.31 percent over the prior year period to $61.39 million.
Non-interest income for the quarter rose 12.60 percent over the last year period to $31.07 million.
Total assets stood at $7502.64 million as on Sep. 30, 2014, up 2.75 percent compared with $7302.02 million on Sep. 30, 2013.
While total liabilities stood at $6537.12 million as on Sep. 30, 2014, up 1.57 percent from $6436.34 million on Sep. 30, 2013.
Net loans stood at $4171.97 million as on Sep. 30, 2014, up 4.79 percent compared with $3981.37 million on Sep. 30, 2013.
Deposits stood at $5967.33 million as on Sep. 30, 2014, up 4.92 percent compared with $5687.33 million on Sep. 30, 2013.
Equity capital of Community Bank System increased 11.53 percent to $965.52 million as on Sep. 30, 2014 compared with $865.68 million on Sep. 30, 2013.