COMMUNITY FINANCIAL SYSTEM, INC.

CBU · National Commercial Banks · 52.6M shares · +1%/yr ↑ dilution · EDGAR filings ↗

Net buyback after stock comp: $21M (gross $30M, SBC $9M)

Reference price $63.98 · est. market cap ~$3.4B — last insider sale, 2026-06-08 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B71

Community Financial System — diversified bank + benefits/insurance services.

Strengths

Revenue +9.6% (71st pct), strong FCF (75th)
Fee-income diversification cushions rate cycles

Risks

ROE 10.5% (56th) average
Integration of acquisitions
Rate sensitivity

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $302M cash & investments
Insider sellingInsider selling — 4 open-market sale(s) by 3 insider(s) (cluster of 3 insiders, ~$790,638, last 6mo) Form 4 ↗

Quarterly revenue

2025-06-30 · $200M2025-09-30 · $208M2025-12-31 · $217M2026-03-31 · $215M

Last 4 quarters · from SEC filings.

Key metrics

Net margin

25.6%

Return on equity

10.5%

Return on assets

1.2%

Revenue growth (QoQ)

-0.8%

Net-income growth

15.3%

Free cash flow

$233M

Tangible book value

$1.1B

Cash & investments

$302M

Stock comp / revenue

1.3%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-06-10	Durkee Deresa Fischer	Tax withheld	1.3K	$64.77
2026-06-10	Durkee Deresa Fischer	Option exercise	1.2K	$44.27
2026-06-10	Durkee Deresa Fischer	Option exercise	427	$51.64
2026-06-08	STICKELS ERIC	Sell	2.0K	$63.98
2026-05-04	Wlos Marya Burgio	Tax withheld	273	$63.62
2026-04-29	Parente John	Option exercise	9	—
2026-04-29	STEELE SALLY A	Option exercise	9	—
2026-04-29	Pecor Raymond C III	Option exercise	9	—
2026-04-29	Knauss Jeffery J	Option exercise	9	—
2026-03-19	Pecor Raymond C III	Option exercise	1.3K	—
2026-03-19	STEELE SALLY A	Option exercise	1.3K	—
2026-03-19	Knauss Jeffery J	Option exercise	1.3K	—
2026-03-19	Parente John	Option exercise	1.3K	—
2026-03-16	STICKELS ERIC	Option exercise	250	—
2026-03-04	Karaivanov Dimitar	Grant	5.2K	—
2026-03-04	Abdo Michael N	Grant	1.9K	—
2026-03-04	Abdo Michael N	Tax withheld	707	$59.87
2026-03-04	Gillan-Myer Maureen A	Grant	2.6K	—
2026-03-04	Gillan-Myer Maureen A	Tax withheld	943	$59.87
2026-03-04	Karaivanov Dimitar	Tax withheld	2.8K	$59.87
2026-03-02	Abdo Michael N	Tax withheld	485	$60.55
2026-03-02	Gillan-Myer Maureen A	Tax withheld	522	$60.55
2026-03-02	Durkee Deresa Fischer	Tax withheld	357	$60.55
2026-03-02	Durkee Matthew K	Tax withheld	399	$60.55
2026-03-02	Karaivanov Dimitar	Tax withheld	2.5K	$60.55
2026-02-04	Whipple John F.	Sell	4.2K	$65.17
2026-02-04	Whipple John F.	Option exercise	4.2K	$38.02
2026-02-03	STEELE SALLY A	Option exercise	4.0K	$23.04
2026-02-03	STEELE SALLY A	Sell	4.0K	$64.12
2026-02-03	STICKELS ERIC	Sell	2.0K	$64.75
2026-01-30	Abdo Michael N	Option exercise	2.3K	$38.02
2026-01-30	Abdo Michael N	Tax withheld	1.8K	$62.44
2025-12-29	Gillan-Myer Maureen A	Sell	3.5K	$58.85
2025-12-16	Parente John	Option exercise	4.2K	$38.02
2025-12-16	Parente John	Tax withheld	2.7K	$60.18
2025-12-01	Whipple John F.	Option exercise	1.4K	—
2025-08-27	LEVY JEFFREY M	Sell	1.4K	$61.38
2025-05-02	Wlos Marya Burgio	Grant	2.3K	—
2025-04-15	STEELE SALLY A	Option exercise	1.2K	—
2025-04-14	Parente John	Option exercise	12	—
2025-04-14	Bolus Mark J.	Option exercise	12	—
2025-04-14	STICKELS ERIC	Option exercise	3	—
2025-04-14	Knauss Jeffery J	Option exercise	12	—
2025-03-19	Parente John	Option exercise	1.4K	—
2025-03-19	Knauss Jeffery J	Option exercise	1.4K	—
2025-03-19	Bolus Mark J.	Option exercise	1.4K	—
2025-03-18	LEVY JEFFREY M	Grant	5.2K	—
2025-03-18	SUTARIS JOSEPH E	Grant	5.6K	—
2025-03-18	Karaivanov Dimitar	Grant	17K	—
2025-03-18	Abdo Michael N	Grant	1.3K	—
2025-03-18	Durkee Deresa Fischer	Grant	883	—
2025-03-18	LEVY JEFFREY M	Grant	1.4K	—
2025-03-18	Gillan-Myer Maureen A	Grant	1.2K	—
2025-03-18	SUTARIS JOSEPH E	Grant	1.5K	—
2025-03-18	Karaivanov Dimitar	Grant	4.5K	—
2025-03-18	Gillan-Myer Maureen A	Grant	4.6K	—
2025-03-17	STICKELS ERIC	Option exercise	451	—
2025-03-12	LEVY JEFFREY M	Tax withheld	386	—
2025-03-12	Gillan-Myer Maureen A	Tax withheld	532	—
2025-03-12	SUTARIS JOSEPH E	Tax withheld	693	—
2025-03-12	Karaivanov Dimitar	Tax withheld	1.8K	—
2025-03-07	LEVY JEFFREY M	Grant	1.1K	—
2025-03-07	Gillan-Myer Maureen A	Grant	1.5K	—
2025-03-07	SUTARIS JOSEPH E	Grant	1.9K	—
2025-03-07	Karaivanov Dimitar	Grant	3.4K	—
2025-03-03	LEVY JEFFREY M	Tax withheld	537	$63.29
2025-03-03	SUTARIS JOSEPH E	Tax withheld	798	$63.29
2025-03-03	Karaivanov Dimitar	Tax withheld	2.0K	$63.29
2025-03-03	Durkee Deresa Fischer	Tax withheld	326	$63.29
2025-03-03	Gillan-Myer Maureen A	Tax withheld	444	$63.29
2025-03-03	Abdo Michael N	Tax withheld	432	$63.29
2025-01-24	LEVY JEFFREY M	Sell	1.1K	$65.98
2025-01-15	Bolus Mark J.	Option exercise	712	—
2025-01-13	STEELE SALLY A	Option exercise	28	—
2025-01-02	STEELE SALLY A	Option exercise	3.7K	—

All non-derivative Form 4 activity (SEC), newest first.

Notable events (8-K)

Date	Items
2026-06-01	OtherExhibits	filing ↗
2026-05-22	Shareholder vote	filing ↗
2026-05-13	Reg FD	filing ↗
2026-04-29	ResultsExhibits	filing ↗
2026-02-11	Exec/director changeExhibits	filing ↗
2026-02-11	Reg FD	filing ↗
2026-01-27	ResultsExhibits	filing ↗
2026-01-15	Reg FDOtherExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-01	2026-06-01	0001104659-26-068535 ↗
8-K	2026-05-22	2026-05-20	0001104659-26-065800 ↗
8-K	2026-05-13	2026-05-13	0001104659-26-059861 ↗
10-Q	2026-05-08	2026-03-31	0001104659-26-057940 ↗
8-K	2026-04-29	2026-04-29	0001104659-26-050927 ↗
10-K	2026-02-27	2025-12-31	0001104659-26-021651 ↗
8-K	2026-02-11	2026-02-11	0001104659-26-013467 ↗
8-K	2026-02-11	2026-02-11	0001104659-26-013099 ↗
8-K	2026-01-27	2026-01-27	0001104659-26-006834 ↗
8-K	2026-01-15	2026-01-15	0001104659-26-003879 ↗
8-K	2026-01-06	2025-12-31	0001104659-26-001402 ↗
8-K	2025-11-12	2025-11-12	0001104659-25-110394 ↗