Community Financial System announced it has agreed to acquire ClearPoint Federal Bank & Trust in an all-cash transaction valued at $40 million, a move the company said will meaningfully expand its wealth management capabilities and add more recurring fee-based revenue.
Community Financial, through its wholly owned banking subsidiary Community Bank, N.A., entered into the agreement to purchase ClearPoint, a specialized trust administrator serving the death care industry. The company said the transaction is designed to broaden the revenue base and product set of Nottingham Financial Group (NFG), Community Financial’s wealth management services business, while aligning with its strategy of deploying capital into “durable, recurring, growing income streams.”
ClearPoint is described as a national leader in trust administration for the approximately $20 billion death care industry. The company reported more than $1.5 billion of assets under management and a three-year revenue compound annual growth rate of 8.8%. Following completion of the transaction, ClearPoint is expected to retain its brand and offerings while gaining access to additional capabilities through both NFG and Community Bank, according to the announcement.
The purchase price is subject to potential adjustments, and the deal remains contingent on ClearPoint shareholder approval, regulatory approvals, and other customary closing conditions. Community Financial said it expects to close the transaction in the second quarter of 2026.
Support: Advisors on the deal include D.A. Davidson & Co. as financial advisor and Luse Gorman, PC as legal advisor to Community Financial. ClearPoint was advised by Keefe, Bruyette & Woods, a Stifel company, with Covington & Burling serving as legal counsel.
