Community Financial System, Inc. Significantly Expands Its Wealth Management Services With Acquisition of ClearPoint Federal Bank & Trust

Core Viewpoint - Community Financial System, Inc. (CFSI) has announced the acquisition of ClearPoint Federal Bank & Trust, which will enhance its wealth management services and contribute to strategic capital deployment into sustainable income streams [1][2]. Group 1: Acquisition Details - The acquisition is an all-cash transaction valued at $40 million, subject to potential purchase price adjustments [3]. - The transaction is expected to close in the second quarter of 2026, pending shareholder and regulatory approvals [3]. Group 2: ClearPoint Federal Bank & Trust - ClearPoint is a leader in trust administration within the $20 billion death care industry, managing over $1.5 billion in assets and achieving a 3-year revenue compound annual growth rate (CAGR) of 8.8% [2]. - Post-acquisition, ClearPoint will retain its brand and offerings while gaining enhanced capabilities through its integration with Nottingham Financial Group and Community Bank, N.A. [2]. Group 3: Community Financial System, Inc. Overview - CFSI operates in four main business lines: banking services, employee benefit services, insurance services, and wealth management services [5]. - Community Bank, N.A., a subsidiary of CFSI, is among the top 100 banking institutions in the U.S. with over $16 billion in assets and approximately 200 customer facilities across several states [5].