Syracuse, N.Y., Jan 16 — Community Financial System, Inc. (NYSE: CBU) (“CFSI”) announced today that its wholly-owned banking subsidiary, Community Bank, N.A., has entered into an agreement to acquire ClearPoint Federal Bank & Trust (“ClearPoint”). The transaction significantly expands the revenue and offerings of Nottingham Financial Group (“NFG”), CFSI’s wealth management services business, and contributes to CFSI’s strategic capital deployment into durable, recurring, growing income streams.
ClearPoint is a national leader in trust administration for the approximately $20 billion death care industry, with over $1.5 billion of assets under management and 3-year revenue CAGR of 8.8%. Following the consummation of the transaction, ClearPoint is expected to retain its brand and offerings while benefiting from deeper capabilities as part of both NFG and Community Bank, N.A.
The all-cash transaction is valued at $40 million, subject to potential purchase price adjustment. The consummation of the transaction is subject to receipt of the shareholder approval of ClearPoint and requisite regulatory approval and other customary closing conditions. CFSI expects the transaction to close in the second quarter of 2026.
D.A. Davidson & Co. served as financial advisor, and Luse Gorman, PC served as legal advisor to Community Financial System, Inc. ClearPoint Federal Bank & Trust was advised by Keefe, Bruyette & Woods, Inc., a Stifel Company, and Covington & Burling LLP served as its legal counsel.