Community Financial System completed its acquisition of Clearpoint Federal Bank & Trust on June 1, 2026, adding a trust business focused on the death care industry to its wealth management arm, Nottingham Financial Group.
Clearpoint brings more than $1.5 billion of assets under management and a three-year revenue compound annual growth rate of 9.7%. The business will operate as Clearpoint Trust, a division of Community Bank, N.A.
The deal was valued at $39 million in cash, subject to a potential purchase price adjustment.
Community said the acquisition expands the revenue and offerings of Nottingham Financial Group and adds a new line of trust services for funeral homes and cemeteries. The company described Clearpoint as serving an approximately $20 billion death care market.
Community Financial System’s banking subsidiary, Community Bank, N.A., has more than $17 billion in assets and operates about 200 customer facilities across upstate New York, northeastern Pennsylvania, Vermont, western Massachusetts and southern New Hampshire. Today the company's shares have moved -0.9% to a price of $63.07. For the full picture, make sure to review COMMUNITY FINANCIAL SYSTEM, INC.'s 8-K report.
