Community Bank System reported earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, net interest income was $87,387,000 against $85,977,000 for the same period last year. Net income was $40,823,000 against $72,026,000 for the same period last year. Basic earnings per share was $0.79 against $1.41 for the same period last year. Diluted earnings per share was $0.78 against $1.40 for the same period last year. Total interest income was $92,421,000 against $89,588,000 reported last year.

For the year, net interest income was $345,055,000, against $315,675,000 for the same period last year. Net income was $168,641,000 against $150,717,000 for the same period last year. Basic earnings per share was $3.28 against $3.07 for the same period last year. Diluted earnings per share was $3.24 against $3.03 for the same period last year. Total interest income was $362,733,000 against $329,455,000 reported last year.

The company announced net charge-offs for the fourth quarter ended December 31, 2018. For the quarter, net charge-offs were $3.3 million for the fourth quarter, compared to $5.8 million for the fourth quarter of 2017.

Since the Durbin restrictions do not become effective until the second half of 2018, the company expects that full year 2019 earnings per share will be unfavorably impacted by an additional $0.11 per share.