DEWITT, N.Y. (AP) _ Community Bank System Inc. (CBU) on Monday reported third-quarter profit of $42.8 million.

The bank, based in Dewitt, New York, said it had earnings of 79 cents per share. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 85 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The bank holding company posted revenue of $157.1 million in the period. Its revenue net of interest expense was $152.6 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $150.1 million.

Community Bank shares have declined 17% since the beginning of the year. The stock has fallen 13% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CBU at https://www.zacks.com/ap/CBU

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