COMMUNITY BANK SYSTEM INC
For the period ended Dec 31, 2023. Filed Feb 29, 2024.
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FY2023 · Filed Feb 29, 2024
CBU$64.88-1.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Comprehensive Income (Loss)
(In Thousands)
| | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|
| · · Years Ended December 31, | |||||||||
| | 2023 | 2022 | 2021 | ||||||
| | | | | | | | | | |
| Pension and other post retirement obligations: · · · | |||||||||
| Amortization of actuarial losses (gains) included in net periodic pension cost and (increase) decrease in unrecognized actuarial (gain) loss, gross | | $4,774 | | $(21,587) | | $17,443 | |||
| Tax effect | | (1,162) | 5,243 | (4,192) | |||||
| Amortization of actuarial losses (gains) included in net periodic pension cost and (increase) decrease in unrecognized actuarial (gain) loss, net | | 3,612 | | (16,344) | | 13,251 | |||
| | | | | | | | | | |
| Amortization of prior service cost included in net periodic pension cost, gross | | 641 | | 678 | | 200 | |||
| Tax effect | | (156) | (165) | (48) | |||||
| Amortization of prior service cost included in net periodic pension cost, net | | 485 | | 513 | | 152 | |||
| | | | | | | | | | |
| Other comprehensive income (loss) related to pension and other post retirement obligations, net of taxes | | 4,097 | | (15,831) | | 13,403 | |||
| | | | | | | | | | |
| Net unrealized gains (losses) on investment securities: | | | |||||||
| Net unrealized holding gains (losses) on investment securities, gross | | 113,464 | (818,890) | | (166,007) | ||||
| Tax effect | | (27,629) | | 198,909 | 39,900 | ||||
| Net unrealized holding gains (losses) on investment securities, net | | 85,835 | (619,981) | | (126,107) | ||||
| | | | | | | | | | |
| Reclassification adjustment for net losses included in net income, gross | | 52,329 | | 0 | 0 | ||||
| Tax effect | | (12,714) | 0 | 0 | |||||
| Reclassification adjustment for net losses included in net income, net | | 39,615 | | 0 | 0 | ||||
| | | | | | | | | | |
| Other comprehensive income (loss) related to unrealized gains (losses) on investment securities, net of taxes | | 125,450 | | (619,981) | | (126,107) | |||
| Other comprehensive income (loss), net of tax | | 129,547 | (635,812) | | (112,704) | ||||
| Net income | | 131,924 | 188,081 | 189,694 | |||||
| Comprehensive income (loss) | | $261,471 | $(447,731) | $76,990 | |||||
| | | | | | | | | |
|---|---|---|---|---|---|---|---|---|
| | As of December 31, | |||||||
| · 2023 · 2022 · 2021 | ||||||||
| Accumulated Other Comprehensive Loss By Component: · · · | ||||||||
| Unrealized loss for pension and other postretirement obligations | $(36,118) | | $(41,533) | | $(20,624) | |||
| Tax effect | 8,914 | 10,232 | 5,154 | |||||
| Net unrealized loss for pension and other postretirement obligations | (27,204) | | (31,301) | | (15,470) | |||
| | | | | | | | | |
| Unrealized loss on investment securities | (698,990) | (864,783) | | (45,893) | ||||
| Tax effect | 169,302 | | 209,645 | 10,736 | ||||
| Net unrealized loss on investment securities | (529,688) | (655,138) | | (35,157) | ||||
| | | | | | | | | |
| Accumulated other comprehensive loss | $(556,892) | | $(686,439) | | $(50,627) | |||
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