[8-K] COMMUNITY FINANCIAL SYSTEM, INC. Reports Material Event
Community Financial System, Inc. (CBU)
The transaction adds approximately $553.0 million of deposits and $31.9 million of performing loans. The company stated the deal accelerates its expansion in the Greater Lehigh Valley, complementing its existing commercial and consumer lending presence in the market.
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Insights
Branch purchase adds deposits and loans in Lehigh Valley; neutral impact.
Community Bank, N.A. closed on seven Santander branches, bringing in approximately
Branch acquisitions typically shift funding mix and local presence rather than overhaul company-wide metrics. The deposits provide low-cost funding potential, while the performing loans add immediate earning assets, subject to integration and retention.
The company frames this as market expansion. Actual balance retention and customer migration will determine realized value, and subsequent filings may provide outcomes.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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| Item 8.01 | Other Matters. |
On November 7, 2025, Community Bank, N.A. (“Community Bank”), the wholly-owned banking subsidiary of Community Financial System, Inc. (the “Company”), completed its acquisition of seven branches in the Allentown, Pennsylvania area from Santander Bank, N.A. (“Santander Bank”), as contemplated by the previously announced Purchase and Assumption Agreement, by and between Community Bank and Santander Bank, dated as of June 24, 2025. In addition, Nottingham Investment Services, Inc. (“Nottingham Investment Services”), Community Bank’s wholly-owned subsidiary, completed its acquisition from Santander Securities LLC, Santander Bank’s affiliate, of certain wealth management relationships associated with the acquired branches.
As part of the transaction, Community Bank acquired approximately $553.0 million of deposits and approximately $31.9 million of performing loans. This strategic acquisition accelerates Community Bank’s expansion in the Greater Lehigh Valley, complementing its existing commercial and consumer lending presence in the market.
A copy of the press release, dated November 10, 2025, issued by the Company to announce the closing is attached hereto as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits |
| (d) | Exhibits |
| 99.1 | Press Release, dated November 10, 2025, issued by Community Financial System, Inc. |
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Community Financial System, Inc. | ||
| By: | Michael N. Abdo | |
| Name: | Michael N. Abdo | |
| Title: | Executive Vice President and General Counsel | |
Dated: November 10, 2025
Exhibit Index
| Exhibit Number | Description |
| 99.1 | Press Release, dated November 10, 2025, issued by Community Financial System, Inc. |
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |
FAQ
What did Community Financial System (CBU) announce?
How many branches did CBU acquire and where are they located?
What balances were acquired in the transaction by CBU?
Did CBU acquire related wealth management relationships?
What strategic rationale did CBU provide?
Was a press release issued about the closing?
