NYCB - Still Not Sold On Community Bank System
2024-05-10 17:16:49 ET
Summary
- Community Bank System's financial performance has shown some improvement, with net interest income rising and non-interest income spiking in the first quarter of 2024.
- Deposits have also increased, providing a positive movement for the company's balance sheet.
- However, the stock remains expensive and may not be attractive for value investors, leading to a recommendation to hold for now.
In March of last year, during the banking crisis, I challenged myself to dig deeper into the financial institutions that are publicly traded. Most of my emphasis has been on fairly small regional banks. One of the companies I ended up coming across that tilts toward the higher end of the spectrum in terms of size compared to what else I have looked at is Community Bank System ( CBU ). For those not familiar with the company, it operates around 200 full-service branches, not to mention some drive through only locations, in places like upstate New York, northern Pennsylvania, Vermont, and Massachusetts....
Still Not Sold On Community Bank System