CBU

EX-99.1

2 tm2613014d1_ex99-1.htm

EXHIBIT 99.1

Exhibit 99.1

News Release

For further information, please contact:

333 Butternut Drive, Syracuse, N.Y. 13214

Marya Burgio Wlos, EVP & Chief Financial Officer

Office: (315) 299-2946

Community Financial System, Inc. Reports First Quarter 2026 Results

SYRACUSE, N.Y. — April 29, 2026 — Community Financial System, Inc. (the “Company”) (NYSE: CBU) reported first quarter 2026 results. The results are available within the “News” section of the Company's investor relations website or directly at https://communityfinancialsystem.com/Q1-2026-CBU-Earnings-Release.

Company management will host a conference call at 11:00 a.m. (ET) today, April 29, 2026, to discuss the first quarter 2026 results. The conference call can be accessed via webcast at https://app.webinar.net/qplYz5Bw2x6 or via dial-in at 1-833-630-0464 (United States) or 1-412-317-1809 (International).

About Community Financial System, Inc.

Community Financial System, Inc. is a diversified financial services company that is focused on four main business lines – banking services, employee benefit services, insurance services and wealth management services. Its banking subsidiary, Community Bank, N.A., is among the country’s 100 largest banking institutions with over $17 billion in assets and operates approximately 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, Western Massachusetts and Southern New Hampshire. The Company’s Benefit Plans Administrative Services, Inc. subsidiary is a leading provider of employee benefits administration, trust services, collective investment fund administration, and actuarial consulting services to customers on a national scale. The Company’s OneGroup NY, Inc. subsidiary is a top 68 U.S. insurance agency. The Company also offers comprehensive financial planning, trust administration and wealth management services through its Nottingham Financial Group operating unit. The Company is listed on the New York Stock Exchange and the Company’s stock trades under the symbol CBU. For more information about the Company and each of its four main business lines visit https://communityfinancialsystem.com.

News Release

For further information, please contact:

333 Butternut Drive, Syracuse, N.Y. 13214

Marya Burgio Wlos, EVP & Chief Financial Officer

Office: (315) 299-2946

Community Financial System, Inc. Reports First Quarter 2026 Results

SYRACUSE, N.Y. — April 29, 2026

Community Financial System, Inc. (the “Company”) (NYSE: CBU) reported first quarter 2026 net income of $57.2 million, or $1.08 per share and operating net income of $61.1 million, or $1.15 per share.

“Our Company delivered another quarter of strong core performance with operating diluted earnings per share1 of $1.15, up 17.3% year-over-year and representing our fourth consecutive quarter of record results,” commented Dimitar A. Karaivanov, President and CEO.

“Our organic momentum continues across all businesses and is also supported by margin and market value tailwinds. During the quarter we achieved an operating return on assets1 of 1.42% while continuing to actively invest in organic and inorganic growth initiatives. At the same time, we remain focused on expanding operating leverage and ensuring that recent investments translate fully into bottom-line results. With our diversified financial services businesses, high-quality balance sheet and disciplined capital deployment, we are well positioned to continue to scale the Company and continue to expect strong earnings growth through the remainder of 2026.”

First Quarter 2026 Performance Quarter-over-

Quarter Increase

(Decrease) Year-over-Year

Increase (Decrease)

Dollars in thousands, except per share data 1st Qtr

2026 4th Qtr

2025 1st Qtr

2025 $ % $ %

Operating Performance Diluted Earnings Per Share $1.08 $1.03 $0.93 $0.05 4.9% $0.15 16.1%

Operating Diluted Earnings Per Share1 1.15 1.12 0.98 0.03 2.7% 0.17 17.3%

Operating Pre-Tax, Pre-Provision Net Revenue Per Share1

1.61 1.58 1.40 0.03 1.9% 0.21 15.0%

Return Metrics Return on Assets 1.33% 1.26% 1.22% - 0.07% - 0.11%

Operating Return on Assets1 1.42% 1.38% 1.28% - 0.04% - 0.14%

Return on Equity 11.51% 11.04% 11.28% - 0.47% - 0.23%

Operating Return on Equity1 12.30% 12.08% 11.84% - 0.22% - 0.46%

1

First Quarter 2026 Performance (continued) Quarter-over-

Quarter Increase

(Decrease) Year-over-Year

Increase (Decrease)

Dollars in thousands, except per share data 1st Qtr

2026 4th Qtr

2025 1st Qtr

2025 $ % $ %

Revenues Total Revenues $213,286 $215,451 $196,248 ($2,165) (1.0%) $17,038 8.7%

Total Operating Revenues (FTE)1 214,537 216,431 196,897 (1,894) (0.9%) 17,640 9.0%

Noninterest Revenues 78,574 82,026 76,036 (3,452) (4.2%) 2,538 3.3%

Total Operating Noninterest Revenues1 78,975 82,131 75,791 (3,156) (3.8%) 3,184 4.2%

Noninterest Revenues/Total Revenues 36.8% 38.1% 38.7% - (1.3%) - (1.9%)

Operating Noninterest Revenues/Operating Revenues (FTE)1 36.8%

false

COMMUNITY FINANCIAL SYSTEM, INC.

0000723188

0000723188

2026-01-27 2026-01-27

iso4217:USD

xbrli:shares

iso4217:USD

xbrli:shares

UNITED STATES

SECURITIES AND

EXCHANGE COMMISSION

WASHINGTON, D.C.

20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 27, 2026

(Exact name of registrant as specified in its charter)

Delaware 001-13695 16-1213679

(State or other jurisdiction of

incorporation) (Commission File Number) (IRS Employer Identification No.)

5790 Widewaters Parkway, DeWitt, New York 13214

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (315) 445-2282

Not applicable.

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s) Name of each exchange on which registered

Common Stock, $1.00 par value per share CBU New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02Results of Operations and Financial Condition.

On January 27, 2026, Community Financial System, Inc. announced its results of operations for the fourth quarter and fiscal year ended December 31, 2025. The public announcement was made by means of a news release, the text of which is furnished as Exhibit 99.1.

The information in this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished under Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01Financial Statements and Exhibits.

(d)  Exhibits

The following exhibit is being furnished pursuant to Item 2.02 above.

99.1Press Release, dated January 27, 2026, issued by Community Financial System, Inc.

104Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Community Financial System, Inc.

By: /s/ Marya Burgio Wlos

Name: Marya Burgio Wlos

Title: Executive Vice President and Chief Financial Officer

Dated: January 27, 2026

Exhibit Index

Exhibit Number Description

99.1 Press Release, dated January 27, 2026, issued by Community Financial System, Inc.

104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

false

COMMUNITY FINANCIAL SYSTEM, INC.

0000723188

0000723188

2025-10-21 2025-10-21

iso4217:USD

xbrli:shares

iso4217:USD

xbrli:shares

UNITED STATES

SECURITIES AND

EXCHANGE COMMISSION

WASHINGTON, D.C.

20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 21, 2025

(Exact name of registrant as specified in its charter)

Delaware 001-13695 16-1213679

(State or other jurisdiction of

incorporation) (Commission File Number) (IRS Employer Identification No.)

5790 Widewaters Parkway, DeWitt, New York 13214

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (315) 445-2282

Not applicable.

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading

Symbol(s) Name of each exchange on which registered

Common Stock, $1.00 par value per share CBU New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Item 2.02Results of Operations and Financial Condition.

On October 21, 2025, Community Financial System, Inc. announced its results of operations for the third quarter ended September 30, 2025. The public announcement was made by means of a news release, the text of which is furnished as Exhibit 99.1.

The information in this Form 8-K, including Exhibit 99.1 attached hereto, is being furnished under Item 2.02 and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01Financial Statements and Exhibits.

(d)  Exhibits

The following exhibit is being furnished pursuant to Item 2.02 above.

99.1Press Release, dated October 21, 2025, issued by Community Financial System, Inc.

104Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Community Financial System, Inc.

By: /s/ Marya Burgio Wlos

Name: Marya Burgio Wlos

Title: Executive Vice President and Chief Financial Officer

Dated: October 21, 2025

Exhibit Index

Exhibit Number Description

99.1 Press Release, dated October 21, 2025, issued by Community Financial System, Inc.

104 Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)