DeWITT, N.Y. — Community Financial System, Inc. (NYSE: CBU) on Thursday announced that its wholly owned banking subsidiary, Community Bank, N.A., has entered into an agreement to acquire ClearPoint Federal Bank & Trust of Batesville, Indiana.
The transaction “significantly expands” the revenue and offerings of Nottingham Financial Group (NFG), Community Financial System’s wealth-management services business.
Community Financial describes ClearPoint as a “national leader” in trust administration for the approximately $20 billion death-care industry, with more than $1.5 billion of assets under management.
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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.
Community Financial System expects the transaction to close in the second quarter of 2026.
After the deal becomes official, ClearPoint is expected to retain its brand and offerings while benefiting from “deeper capabilities” as part of both NFG and Community Bank.
About Community Financial System
Community Financial System is a financial-services company that is focused on four main business lines that include banking services, employee-benefit services, insurance services, and wealth-management services.
Community Bank is among the nation’s 100 largest banking institutions with over $16 billion in assets and operates about 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, Western Massachusetts, and Southern New Hampshire.
