Community Financial System announces retirement of chief banking officer

Community Financial System, Inc. (NYSE:CBU), currently trading at $55.11 per share with a market capitalization of $2.9 billion, announced the planned retirement of Jeffrey M. Levy, Senior Vice President and Chief Banking Officer of its subsidiary Community Bank, N.A. Mr. Levy notified the company on Monday of his intention to retire from his roles effective December 31, 2025.

According to a statement released by the company, Mr. Levy has served as the bank’s Senior Vice President and Chief Banking Officer since January 1, 2024. Prior to this role, he held several positions at the bank, including President, Commercial Banking, and Regional President of the Capital Region of New York.

The company stated that Matthew Durkee, currently President, Commercial Banking at Community Bank, N.A., will succeed Mr. Levy. Mr. Durkee joined the bank in January 2022 as President of the New England Region and was appointed President, Commercial Banking in January 2024.

Community Financial System, Inc. is incorporated in Delaware and headquartered in DeWitt, New York. The company’s common stock is listed on the New York Stock Exchange under the ticker symbol CBU.

This information is based on a press release statement included in a filing with the Securities and Exchange Commission.

In other recent news, Community Bank System Inc . reported its second-quarter 2025 earnings, exceeding analysts’ expectations for earnings per share (EPS). The company achieved an EPS of $1.04, surpassing the forecasted $1.01. However, revenue for the quarter was $199.3 million, which was slightly below the anticipated $201.23 million. This revenue shortfall resulted in a negative surprise of -0.96%. Despite the EPS beat, investors expressed concerns over the revenue figures. Additionally, Keefe, Bruyette & Woods (KBW) has adjusted its price target for Community Financial System to $67 from $69. The firm maintained a Market Perform rating, noting that the quarter’s net interest income and credit performance were in line, offsetting weaker-than-expected fee income. These recent developments highlight the mixed financial performance of the company.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.