ClearPoint Federal Bank & Trust Acquired by Community Financial System | Financial Services M&A Deal

Community Financial System has completed the acquisition of ClearPoint Federal Bank & Trust, a banking business in New York, for $39 million. ClearPoint Federal Bank & Trust is a national trust administration provider serving the approximately $20 billion death care industry, with about $1.5 billion in assets under management. Community Financial System acquires ClearPoint Federal Bank & Trust to expand trust and wealth management offerings through its ClearPoint Trust division within Community Bank, N.A., supporting durable recurring income. The financial services M&A deal is an add on acquisition by a public company, with Community Financial System acquisitions focused on growing income streams, and it closed on June 1, 2026.