Community Financial System 2026年季度报告

FORM10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period endedJune30,2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934For the transition period fromtoCommission File Number: 001-13695 (Exact name of registrant as specified in its charter) Delaware16-1213679(State or other jurisdiction of incorporation or organization)(I.R.S.Employer Identification No.) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the SecuritiesExchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file suchreports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submittedpursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period thatthe registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smallerreporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smallerreporting company” and “emerging growth company” in Rule12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act). Yes☐No☒ Number of shares of common stock, par value $1.00 per share, outstanding as of the close of business on July 31, 2026: 52,615,905shares TABLE OF CONTENTS PartI.Financial InformationPageItem1.Financial Statements (Unaudited)Consolidated Statements of Condition June 30, 2026 and December31, 20253Consolidated Statements of Income Three and six months ended June 30, 2026 and 20254Consolidated Statements of Comprehensive Income Three and six months ended June 30, 2026and 20255Consolidated Statements of Changes in Shareholders’ Equity Three and six months ended June 30,2026 and 20256Consolidated Statements of Cash Flows Six months ended June 30, 2026 and 20258Notesto the Consolidated Financial Statements June 30, 20269Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations41Item3.Quantitative and Qualitative Disclosures about Market Risk69Item4.Controls and Procedures71PartII.Other InformationItem1.Legal Proceedings71Item1A.Risk Factors71Item2.Unregistered Sales of Equity Securities and Use of Proceeds72Item3.Defaults Upon Senior Securities72Item4.Mine Safety Disclosures72Item5.Other Information73Item6.Exhibits74 COMMUNITY FINANCIAL SYSTEM, INC.CONSOLIDATED STATEMENTS OF CONDITION (Unaudited)(In Thousands, Except Share Data) COMMUNITY FINANCIAL SYSTEM,INC.CONSOLIDATED STATEMENTS OF INCOME (Unaudited)(In Thousands, Except Per-Share Data) Table of Contents Table of Contents COMMUNITY FINANCIAL SYSTEM,INC.CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)(In Thousands) COMMUNITY FINANCIAL SYSTEM, INC.NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)JUNE30,2026 NOTEA: BASIS OF PRESENTATION The interim financial data as of and for the three and six months ended June30,2026 is unaudited; however, in theopinion of Community Financial System, Inc. (the “Company”), the interim data includes all adjustments, consistingonly of normal recurring adjustments, necessary to present fairly the results for the interim periods in conformity withgenerally accepted accounting principles in the United States of America (“GAAP”) and Article 10 of Regulation S-X.The results of operations for the interim periods are not necessarily indicative of the results that may be expected forthe full year or any other interim period. The Company’s unaudited interim consolidated financial statements and notesthereto should be read in conjunction with the Company’s audited annual consolidated financial statements and notesthereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 filed with theSecurities and Exchange Commission (“SEC”) on February 27, 2026. NOTEB: ACQUISITIONS Subsequent Period Acquisitions On August 1, 2026, the Company, through its subsidiary OneGroup, NY, Inc. (“OneGroup”), completed the acquisitionof certain assets of an insurance agency based in New York for approximately $3.1 million in cash plus contingentconsideration. The transaction is expected to exp