Community Financial System, Inc. (NYSE: CBU) has announced the appointment of John A. Vaccaro to its board of directors, effective October 1, 2025. Mr. Vaccaro is the Chairman Emeritus of MML Investors Services, LLC, a national broker-dealer and registered investment advisor with over $285 billion in assets under management. With this appointment, the company's board now consists of 13 directors, 12 of whom are independent.
Dimitar A. Karaivanov, President and CEO of Community Financial System, Inc., stated that Mr. Vaccaro brings a proven track record of scaling a complex, large financial services business with substantial market position. Mr. Vaccaro's experience, track record, reputation, and network in the wealth management space are expected to be additive as the company continues to grow along its diversified financial services strategy.
Community Financial System, Inc. is a diversified financial services company focused on banking services, employee benefit services, insurance services, and wealth management services. Its banking subsidiary, Community Bank, N.A., has over $16 billion in assets and operates approximately 200 customer facilities across upstate New York, northeastern Pennsylvania, Vermont, and western Massachusetts. The company's benefit plans administrative services subsidiary is a leading provider of employee benefits administration, trust services, collective investment fund administration, and actuarial consulting services on a national scale. Furthermore, its Onegroup NY, Inc. subsidiary is a top 68 U.S. insurance agency. The company also offers comprehensive financial planning, trust administration, and wealth management services through its Nottingham Financial Group operating unit.
The company's stock trades under the symbol CBU on the New York Stock Exchange. As a result of these announcements, the company's shares have moved 2.95% on the market, and are now trading at a price of $61.51. Check out the company's full 8-K submission here.
