New York bank doubles down on insurance with big investment

Key insight: Community Financial System is deepening its involvement in the insurance business at a time when other banks are exiting the market.What's at stake: The Syracuse, New York-based bank is making a $37.4 million bet on its new partner, Leap Holdings.Expert Quote: "If you can find a carrier or an agency who does like one thing really well … that seems like a solid investment to me."Bucking a trend in which at least two dozen banks have sold their insurance units over the past three years, Community ...