Q4 2024 Community Financial System Inc Earnings Call Transcript

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Jan 21, 2025

Jan 21, 2025 / 04:00PM GMT
Operator

Good day, and welcome to the Community Financial System Inc. fourth-quarter 2024 earnings conference call. (Operator Instructions) Please note this event is being recorded.

I would now like to turn the conference over to Dimitar Karaivanov, President and Chief Executive Officer. Please go ahead.

Dimitar Karaivanov Community Financial System - InC. - President and CEO

Thank you, Mike. Good morning, everybody, and thank you for joining our fourth-quarter and full-year 2024 earnings call.

This was a very solid quarter for us with operating PPNR of $1.40 per share, which grew 8.5% compared to the prior quarter and 23.9% compared to last year's fourth quarter. Those are excellent numbers. There is a lot to be pleased about such as margin expansion and excellent liquidity, strong fee performance, strong credit and well managed expenses. I will leave all the quarterly details to Joe and would like to really focus on our overall 2024 performance and 2025 outlook.

As we look back upon 2024, I'm pleased with the performance of our company. In

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