Community Bank System Reports Record Third Quarter Results

SYRACUSE, N.Y.--(BUSINESS WIRE)--Community Bank System, Inc. (NYSE: CBU) reported third quarter 2011 net income of $20.0 million ($0.54 per share), an increase of 15.9% over the $17.3 million reported for the third quarter of 2010. The third quarter’s record results included $0.4 million ($0.01 per share) of acquisition expenses related to the Company’s purchase of The Wilber Corporation, completed in early April. 2011 year-to-date earnings of $54.2 million, or $1.50 per share, include $4.7 million ($0.09 per share, after-tax) of acquisition expenses, and were up 14.2% over the first nine months of 2010.