Manuel Navis's questions to COMMUNITY FINANCIAL SYSTEM (CBU) leadership • Q2 2025
Question
On behalf of Manuel Navis, Sharon Gee from D.A. Davidson asked about the outlook for operating expense trends following the recent restructuring and sought more detail on the progress of the Santander branch acquisition and how it integrates with the company's de novo expansion strategy.
Answer
CFO Marya Burgio Wlos explained that the restructuring charge related to branch consolidations and that she expects operating expenses to be relatively flat going forward. CEO Dimitar Karaivanov added that the branch acquisition is on track for a Q4 2025 closing and perfectly complements their organic growth, creating a top-five market share presence in the Lehigh Valley.