Community Financial System, Inc. · NYSE:CBU
Community Financial System — Community Bank System — Corporate Update (April 2020)
12 slides from Community Financial System's corporate update, Apr 20, 2020
Slide 1: April 2020 Pandemic Response
APRIL 2020 COVID - 19 PANDEMIC RESPONSE
Slide 2: Forward-Looking Statement
1 FORWARD - LOOKING STATEMENT This presentation contains forward - looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current beliefs and expectations of CBU’s management and are subject to significant risks and uncertaint
Slide 3: Virus Developments
2 COVID - 19 VIRUS DEVELOPMENTS The World Health Organization declared COVID - 19 virus to be a global pandemic on March 11, 2020. T he rapid spread of the COVID - 19 virus in the United States invoked various Federal and State Authorities to make emergency declarations and issue executive orders to
Slide 4: Company Response
3 COMPANY RESPONSE TO COVID - 19 • Appointed an internal task force comprised of the Company’s management to address both operational and financial risks posed by COVID - 19 • Modified branch operations • Branch lobbies available, but on an appointment only basis • Primarily drive thru transactions
Slide 5: Strong Capital Position
4 $479 $607 $876 $1,198 $1,855 $1,977 7.77% 8.23% 9.29% 10.55% 10.80% 11.10% 5.28% 6.14% 7.68% 9.24% 10.01% 10.78% 0% 2% 4% 6% 8% 10% 12% 14% $0 $400 $800 $1,200 $1,600 $2,000 2007 2010 2013 2016 2019 Q1 2020 $ in Millions Shareholders' Equity Tier I Ratio Tangible Equity/Tangible Assets STRONG CAPI
Slide 6: Liquidity Position & Sources
5 Liquidity Sources March 31, 2020 $ in Thousands Cash and Cash Equivalents (net of float & reserves) $458,890 FHLB Borrowing Capacity $1,826,357 FRB Borrowing Availability $260,435 Investments 1 US Gov’t & Agency $2,139,079 MBS & CMO (less 5% haircut ) $473,658 Municipals $481,797 Corporates $2,508
Slide 7: Customer Support
6 4,292 loans representing $587 million in loan balances granted loan payment deferrals (as of April 15, 2020) • The Company anticipates that the number and amount of COVID - 19 financial hardship payment deferral requests will increase significantly during the second quarter of 2020. • Estimated 1,
Slide 8: Related Industry Exposure
7 COVID - 19 Related Industry Exposure $ in Millions March 31, 2020 NAICS code based loan data “Exposure” includes both the outstanding and available portions of the loan commitment (1) Retail excludes Furniture Stores and Grocery Stores but includes loans secured by non - owner - occupied commercia
Slide 9: CBU Loan Yields vs. Prime Rate and Repricing
8 (1) CBU loan yields exclude fully tax equivalent (FTE) adjustments (2) Based on March 31, 2020 ending loan balances and interest rates Includes adjustable rate consumer mortgage loans, variable rate consumer home equity lines, variable rate consumer check cred it lines, variable rate business line
Slide 10: Future Expectations
9 FUTURE EXPECTATIONS The COVID - 19 crisis is expected to continue to impact the Company’s financial results, as well as demand for its services and products during the second quarter of 2020 and potentially beyond. The short and long - term implications of the COVID - 19 crisis, and related moneta
Slide 11: Appendix: Tangible Equity Components
10 APPENDIX: TANGIBLE EQUITY COMPONENTS (unaudited ) 2007 2010 2013 2016 2019 Q1 2020 Total assets Total assets (GAAP) $4,697,502 $5,444,506 $7,095,864 $8,666,437 $11,410,295 $11,808,983 Intangible assets (256,216) (311,714) (390,499) (480,844) (836,923) (832,919) Deferred taxes on intangible assets
Slide 12: Investor Relations Contact
APRIL 2020 Investor Relations Contact Mr. Joseph E. Sutaris EVP & Chief Financial Officer Joseph.Sutaris@cbna.com (315) 445 - 7396
Community Bank System — Corporate Update (April 2020) on 6ix