Image: MorningstarCommunity Financial System completes $39 million acquisition of ClearPoint Federal Bank & Trust
β’ Community Financial System said it completed its acquisition of ClearPoint Federal Bank & Trust, a deal it valued at about $39 million and announced through a Business Wire release carried by Morningstar. β’ The transaction expands Community Financialβs trust and wealth-management footprint, with the acquired business focused on federal banking and trust services. β’ The deal adds scale to a regional U.S. bank at a time when lenders are still using M&A to deepen fee income and broaden their customer base.
morningstar.com