Categories: Banks & Credit UnionsInsurance & Financial ServicesSubscriber Only

Community Bank’s wealth-management revenue rises in Q4

The Community Bank branch office in the village of Skaneateles. (ADAM ROMBEL/CNYBJ)

DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) reported wealth-management revenue of $8.5 million in the fourth quarter of 2021, up 13.4 percent from $7.5 million in the year-ago quarter, and up 2.4 percent from $8.3 million in the third quarter of 2021. The rise in wealth-management revenue was primarily driven by increases in investment […]

Already an Subcriber? Log in

Get Instant Access to This Article

Become a Central New York Business Journal subscriber and get immediate access to all of our subscriber-only content and much more.

Learn More and Become a Subscriber

The rise in wealth-management revenue was primarily driven by increases in investment management and trust-services revenue, the DeWitt–based banking company said in its fourth-quarter earnings report issued on Jan. 24.

Community Bank System offers financial planning, insurance, and wealth-management services through its Community Bank Wealth Management Group and OneGroup NY, Inc. operating units. The company also operates more than 215 retail bank branches across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts through its banking subsidiary, Community Bank, N.A.

Jornal Staff