Community Financial System, Inc. (NYSE: CBU) announced that its wholly‑owned banking subsidiary, Community Bank, N.A., will acquire ClearPoint Federal Bank & Trust for an all‑cash consideration of $40 million, with the transaction expected to close in the second quarter of 2026.
ClearPoint brings approximately $1.5 billion in assets under management and a $20 billion death‑care industry trust business to CBU’s wealth‑management platform, adding a national leader in trust administration for a niche that complements CBU’s existing fee‑based advisory and trust offerings.
The acquisition expands CBU’s wealth‑management services by adding a specialized trust administration capability that is expected to generate recurring fee income and enhance the company’s competitive moat in the Upstate New York and Northeastern Pennsylvania markets.
ClearPoint will retain its brand and operations while benefiting from CBU’s broader distribution network and integrated banking capabilities, positioning the combined entity to cross‑sell banking, insurance, and employee‑benefit products to a new client base.
The deal aligns with CBU’s strategy of building durable, fee‑generating businesses that complement its core banking operations, and it is expected to accelerate growth in the wealth‑management segment once regulatory and shareholder approvals are obtained.
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