Community Bank System in DeWitt, N.Y., will take a $6.9 million loss in the fourth quarter after selling collateralized-debt obligations and other securities in response to concerns over the Volcker Rule.

The $7.3 billion-asset company said Tuesday that it lost $15.5 million in the sale of trust-preferred CDOs. The company also eliminated $226.4 million of Federal Home Loan Bank advances and sold $417.6 million of Treasury securities classified as held to maturity.

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