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Community Bank System - Fundamentalanalyse - Jahresbericht / Bilanz / Geschäftsbericht

Community Bank System Inc. (ISIN: US2036071064, WKN: 896709) Kursdatum: 21.07.2017 Kurs: 54,290 USD
Beschreibung Daten
Symbol CBU
Marktkapitalisierung 2.415.090.688,00 USD
Land Vereinigte Staaten von Amerika
Indizes NO INDEX
Sektor Banken
Rohdaten nach US GAAP in Millionen USD
Aktiensplits 2004-04-13 - 2:1 | 1997-03-13 - 2:1 |
Internet www.communitybankna.com
Letztes Bilanz Update 01.03.2017

Fundamentaldaten

Fundamental Verhältnisse errechnet am: 21.07.2017
KFCV KCV DIV Rendite GKR EKQ KGV KUV KBV
20,33 18,40 2,32% 1,19 13,82 23,40 5,48 2,02

Firmenbeschreibung

Firmenstrategie

Principles of ConsolidationThe consolidated financial statements include the accounts of the Company and its subsidiaries.  All intercompany accounts and transactions have been eliminated in consolidation.Variable Interest Entities (“VIE”) are legal entities in which equity investors do not have the characteristics of a controlling financial interest or do not have sufficient equity at risk for the legal entities to finance its activities without additional subordinated financial support.  VIEs may be required to be consolidated by a company if it is determined the company is the primary beneficiary of a VIE.  The primary beneficiary of a VIE is the enterprise that has: (1) the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance, and (2) the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits of the VIE that could potentially be significant to the VIE.  The Company’s VIE’s are described in more detail in Note T to the consolidated financial statements.

RevenueRecognitionPolicyTextBlock

Revenue Recognition

The Company recognizes income on an accrual basis. CISI and OWM recognize fee income when investment and insurance products are sold to customers.  Nottingham provides asset management services to brokerage firms and clients and recognizes income ratably over the contract period during which service is performed.  Revenue from BPA’s administration and recordkeeping services is recognized ratably over the service contract period.  Revenue from consulting and actuarial services is recognized when services are rendered.  CBNA Insurance and OneGroup recognize commission revenue at the later of the effective date of the insurance policy, or the date on which the policy premium is billed to the customer.  At that date, the earnings process has been completed and the impact of refunds for policy cancellations can be reasonably estimated to establish reserves. The reserve for policy cancellations is based upon historical cancellation experience adjusted for known circumstances. All intercompany revenue and expense among related entities are eliminated in consolidation.

SegmentReportingDisclosureTextBlock

NOTE U:  SEGMENT INFORMATION


Operating segments are components of an enterprise, which are evaluated regularly by the “chief operating decision maker” in deciding how to allocate resources and assess performance.  The Company’s chief operating decision maker is the President and Chief Executive Officer of the Company. The Company has identified Banking and Employee Benefit Services as its reportable operating business segments.  CBNA operates the Banking segment that provides full-service banking to consumers, businesses, and governmental units in northern, central, and western New York as well as northeast Pennsylvania.  Employee Benefit Services, which includes BPAS, BPAS-APS (formerly Harbridge Consulting Group, LLC), and HB&T, provides employee benefit trust, collective investment fund, retirement plan administration, actuarial, VEBA/HRA, and health and welfare consulting services.  The All Other segment is comprised of; (a) wealth management services including trust services provided by the personal trust unit within the Bank, broker-dealer and investment advisory services provided by CISI, OWM, and Carta Group, and asset management provided by Nottingham, and (b) full-service insurance, risk management and employee benefit services provided by OneGroup and CBNA Insurance.  The accounting policies used in the disclosure of business segments are the same as those described in the summary of significant accounting policies (See Note A).


Information about reportable segments and reconciliation of the information to the consolidated financial statements follows:

 

EarningsPerSharePolicyTextBlock

Earnings Per Share

Using the two-class method, basic earnings per common share is computed based upon net income available to common shareholders divided by the weighted average number of common shares outstanding during each period, which excludes the outstanding unvested restricted stock.  Diluted earnings per share is computed using the weighted average number of common shares determined for the basic earnings per common share computation plus the dilutive effect of stock options using the treasury stock method.  Stock options where the exercise price is greater than the average market price of common shares were not included in the computation of earnings per diluted share as they would have been anti-dilutive.

 
(000's omitted)
 
Banking
   
Employee
Benefit Services
   
All Other
   
Eliminations
   
Consolidated
Total
 
2015
                             
Net interest income
 
$
248,167
   
$
132
   
$
121
   
$
0
   
$
248,420
 
Provision for loan losses
   
6,447
     
0
     
0
     
0
     
6,447
 
Noninterest income
   
57,704
     
46,784
     
20,967
     
(2,156
)
   
123,299
 
Amortization of intangible assets
   
2,803
     
515
     
345
     
0
     
3,663
 
Other operating expenses
   
181,865
     
35,218
     
14,465
     
(2,156
)
   
229,392
 
Income before income taxes
 
$
114,756
   
$
11,183
   
$
6,278
   
$
0
   
$
132,217
 
Assets
 
$
8,513,228
   
$
35,011
   
$
70,067
   
(65,637
)
 
$
8,552,669
 
Goodwill
 
$
439,052
   
$
8,019
   
$
16,181
   
$
0
   
$
463,252
 
                                         
2014
                                       
Net interest income
 
$
244,243
   
$
92
   
$
93
   
$
0
   
$
244,428
 
Provision for loan losses
   
7,178
     
0
     
0
     
0
     
7,178
 
Noninterest income
   
58,565
     
43,701
     
18,634
     
(1,880
)
   
119,020
 
Amortization of intangible assets
   
3,438
     
647
     
202
     
0
     
4,287
 
Other operating expenses
   
178,472
     
32,846
     
12,855
     
(1,880
)
   
222,293
 
Income before income taxes
 
$
113,720
   
$
10,300
   
$
5,670
   
$
0
   
$
129,690
 
Assets
 
$
7,463,379
   
$
31,513
   
$
15,635
   
(21,087
)
 
$
7,489,440