Community Bank System, Inc.'s (CBU) CEO Mark Tryniski on Q4 2021 Results - Earnings Call Transcript

Community Bank System, Inc. (NYSE:CBU) Q4 2021 Earnings Conference Call January 24, 2022 11:00 AM ET

Company Participants

Mark Tryniski - President and Chief Executive Officer
Joseph Sutaris - Executive Vice President and Chief Financial Officer
Joseph Serbun - Executive Vice President and Chief Banking Officer

Conference Call Participants

Alex Twerdahl - Piper Sandler
Russell Gunther - D.A. Davidson
Matthew Breese - Stephens Inc.
Chris O'Connell - KBW
Erik Zwick - Boenning & Scattergoodc
William Wallace - Raymond James

Operator

Good morning, and welcome to the Community Bank System Fourth Quarter 2021 Earnings Conference Call. All participants will be in a listen-only mode. [Operator Instructions]

Please note that this presentation contains forward-looking statements within the provisions of the Private Securities Litigation Reform Act of 1995 and that are based on current expectations, estimates and projections about the industry, markets and economic environment in which the company operates. Such statements involve risks and uncertainties that could cause actual results to differ materially from the results discussed in these statements. These risks are detailed in the company's annual report and Form 10-K filed with the Securities and Exchange Commission.

Today's call presenters are Mark Tryniski, President and Chief Executive Officer; and Joseph Sutaris, Executive Vice President and Chief Financial Officer. They will be joined by Joseph Serbun, Executive Vice President and Chief Banking Officer, for the question-and-answer session. Gentlemen, you may begin.

Mark Tryniski

Thank you, Chad. Good morning, everyone, and thank you for joining our year-end conference call. We hope everyone is well.

Our earnings for the quarter were very good and right in line with our expectations. We delivered record revenues and nearly record PPNR per share, which was up 6% over the 2020 quarter. Joe will comment further on the quarter, but I would like to add that ex-PPP, we had solid growth in both