COMMUNITY FINANCIAL SYSTEM, INC.

For the period ended Dec 31, 2025. Filed Feb 27, 2026.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2025 · Filed Feb 27, 2026

CBU$64.88-1.4%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

(In Thousands)


· · Years Ended December 31,
· · 2025 · · 2024 · · 2023
Operating activities: · · · · · ·
Net income	$210,455	$182,481	$131,924
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	15,577	13,676	12,991
Amortization of intangible assets	13,846	14,259	14,511
Net amortization on securities, loans, finance leases and borrowings	14,083	10,818	5,838
Stock-based compensation	10,859	8,374	9,269
Gain on debt extinguishment	0	0	(242)
Provision for credit losses	21,350	22,773	11,203
Provision for deferred income taxes	11,669	674	(7,503)
Amortization of mortgage servicing rights	779	722	849
Loss on sales of investment securities	0	487	52,329
Unrealized gain on equity securities	(375)	(1,231)	47
Income from bank-owned life insurance policies	(3,387)	(2,496)	(2,412)
Net gain on sale of assets	(855)	(2,383)	(1,490)
Loss from equity method investments	285	0	0
Change in other assets and liabilities	7,573	(5,878)	1,106
Net cash provided by operating activities	301,859	242,276	228,420
Investing activities:
Proceeds from maturities, calls, and paydowns of available-for-sale investment securities	52,608	59,688	597,823
Proceeds from maturities, calls, and paydowns of held-to-maturity investment securities	29,890	9,103	208
Proceeds from maturities and redemptions of equity and other investment securities, net	13,849	398	14,945
Proceeds from sales of available-for-sale investment securities	0	57,538	733,789
Purchases of held-to-maturity investment securities	(109,813)	(152,645)	(63,284)
Purchases of equity and other securities, net	(1,594)	(13,538)	(4,796)
Net increase in loans	(532,831)	(765,581)	(923,280)
Cash received (paid) for acquisitions, net of cash acquired	469,692	(15,620)	(8,517)
Purchases of equity method investments	(37,350)	0	0
Proceeds from sales of premises, equipment and other assets	1,974	5,743	7,473
Purchases of premises and equipment	(68,528)	(20,703)	(18,585)
Net cash used in investing activities	(182,103)	(835,617)	335,776
Financing activities:
Net increase (decrease) in deposits	401,644	513,586	(84,187)
Net (decrease) increase in overnight borrowings	(118,000)	65,000	(715,400)
Net decrease in securities sold under agreement to repurchase, short-term	(30,390)	(43,042)	(42,058)
Proceeds from other Federal Home Loan Bank borrowings	0	250,000	400,000
Payments on and maturities of other Federal Home Loan Bank borrowings	(160,257)	(47,073)	(11,971)
Payments of contingent consideration for acquisitions	(1,382)	(3,087)	(1,214)
Redemption of subordinated notes payable	0	0	(3,000)
Proceeds from the issuance of common stock for employee stock plans	5,277	7,091	1,015
Purchases of treasury stock	(11,168)	(45,836)	(30,016)
Cash dividends paid	(97,560)	(95,777)	(95,102)
Withholding taxes paid on share-based compensation	(3,169)	(1,479)	(1,197)
Net cash (used in) provided by financing activities	(15,005)	599,383	(583,130)
Change in cash, cash equivalents and restricted cash	104,751	6,042	(18,934)
Cash, cash equivalents and restricted cash at beginning of period	197,004	190,962	209,896
Cash, cash equivalents and restricted cash at end of period	$301,755	$197,004	$190,962

Supplemental disclosures of cash flow information:
Cash paid for interest	$193,054	$192,871	$100,040
Cash paid for income taxes	40,499	43,728	41,661
Supplemental disclosures of noncash financing and investing activities:
Dividends declared and unpaid	25,000	24,410	24,168
Transfers from loans to other real estate	7,390	3,109	1,051
Transfers from premises and equipment, net to other assets	277	2,398	2,899
Finance lease right of use asset in exchange for finance lease liability	0	8,608	0
Acquisitions:
Fair value of assets acquired, excluding acquired cash and intangibles	36,678	497	243
Fair value of liabilities assumed	545,748	1,908	18
Contingent consideration in exchange for acquired assets	6,724	3,816	1,450

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.