Community Financial System, Inc. (NYSE: CBU) recently announced the appointment of Brenda M. Hall as a new independent director to its board of directors, effective March 1, 2026. Ms. Hall brings extensive experience from her distinguished 24-year career at Selective Insurance Group, Inc. (NASDAQ: SIGI), where she most recently served as the Chief Operating Officer until her retirement in January 2026.
The company's board now consists of 14 directors, 13 of whom are independent, with Ms. Hall joining the board of directors of the company's banking subsidiary, Community Bank, N.A., and serving on the risk committee of the company and the bank.
Dimitar A. Karaivanov, President and CEO of Community Financial System, Inc., emphasized Ms. Hall's successful track record at Selective, highlighting her ability to lead and grow complex insurance operations. This aligns with the company's focus on expanding and enhancing its insurance and financial services to provide sustainable and diversified revenue streams.
Community Financial System, Inc. is a diversified financial services company with a banking subsidiary, Community Bank, N.A., that has over $17 billion in assets and operates approximately 200 customer facilities across several regions. The company's subsidiaries also provide employee benefit services, insurance services, and wealth management services.
As a business and finance journalist, it's crucial to note the specific changes and advancements Ms. Hall's appointment brings to the company's board and the potential impact her expertise will have on the company's insurance and financial services. Following these announcements, the company's shares moved -1.51%, and are now trading at a price of $61.78. Check out the company's full 8-K submission here.
