Welcome to our dedicated page for Community Financial System SEC filings (Ticker: CBU), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Community Financial System, Inc. filings document a diversified financial services company with banking, employee benefit services, insurance services and wealth management services operations. Its Form 8-K reports furnish operating results, Regulation FD investor presentations, director appointments, bank leadership changes and capital actions, including stock repurchase authorization disclosures.
Proxy materials cover annual meeting procedures, shareholder voting matters, board governance, executive compensation and performance discussion across the company's four business lines. The filing record also identifies Community Bank, N.A. and other operating units as recurring subjects in disclosures about business strategy, governance and capital structure for CBU common stock.
Community Financial System, Inc. has disclosed that it made a minority investment in Leap Holdings, Inc., a Delaware corporation. The company acquired approximately $37,350,000 in various classes of Leap preferred and common stock, signaling a strategic move into a new equity holding. A press release dated September 8, 2025, is incorporated as an exhibit.
The filing includes extensive forward-looking statements language, noting that outcomes depend on factors such as the actual results of Leap’s business, the growth of the Insurtech market, interest rate and macroeconomic conditions, credit quality, competition, regulatory changes, and successful integration of acquisitions. The company emphasizes that actual results may differ materially and that it undertakes no obligation to update these forward-looking statements.
Insider transaction summary: The Form 4 reports that Jeffrey M. Levy, SVP & Chief Banking Officer and director-related officer of Community Financial System, Inc. (CBU), sold 1,440 shares of the issuer's common stock at a price of $61.375 per share on the transaction date reported. After the reported sale, Mr. Levy is shown as beneficially owning 6,656.6389 shares directly and 6,059.7858 shares indirectly through the company 401(k) plan. The filing includes a confirming signature attesting to the accuracy of the statement.
Form 144 notice for Community Financial System, Inc. (CBU) reports a proposed sale of 1,440 common shares on 08/26/2025 through Charles Schwab. The filing lists an aggregate market value of $87,887.09 and shows 52,857,077 shares outstanding. The securities being offered were acquired via RSU vesting: 758 shares on 03/01/2025 and 682 shares on 03/07/2025, with payment/consideration marked as N/A. The filer indicates no other securities sold in the past three months and includes the standard representation that the seller is not aware of undisclosed material adverse information. The document is a regulatory notice of an intended insider sale and does not provide operational or financial performance details.
Community Financial System, Inc. reported stronger results for the quarter and first half of 2025. Net income for the three months ended June 30, 2025 was $51.3 million, up from $47.9 million a year earlier, and six-month net income was $100.9 million versus $88.8 million. Net interest income rose to $124.7 million for the quarter from $109.4 million, while provision for credit losses increased modestly to $4.1 million for the quarter. Total assets grew to $16.67 billion and gross loans reached $10.52 billion, with total deposits of $13.70 billion.
The company disclosed a pending acquisition from Santander to assume approximately $600 million of deposits and acquire about $33 million of loans, with a deposit premium of 8% (approximately $48.0 million) and expected closing in the fourth quarter of 2025, subject to regulatory approval. The firm completed several smaller acquisitions in 2024 and 2025 that added intangible assets and goodwill and recorded contingent consideration arrangements. Accumulated other comprehensive loss improved to $(486.8) million, reflecting net unrealized investment gains during the six months.
Community Financial System, Inc. (NYSE: CBU) filed a Form 8-K disclosing a planned leadership transition at its banking subsidiary.
Senior Vice President & Chief Banking Officer Jeffrey M. Levy has notified the Company of his intention to retire effective December 31, 2025. Levy has held the CBO role since January 2024 and previously led commercial banking and regional operations, contributing to commercial-lending growth in New York’s Capital Region.
The Board has chosen Matthew Durkee, currently President, Commercial Banking, to succeed Levy on January 1, 2026. Durkee joined the Bank in January 2022 and was promoted to his present post in January 2024. The filing contains no details on compensation adjustments, strategic shifts, or financial effects, and no other material events were reported.
Community Financial System, Inc. (NYSE: CBU) filed a Form 8-K on 22 July 2025. The filing is limited to Item 2.02, indicating that the company has furnished—not filed—its second-quarter (ended 30 June 2025) earnings results via a press release attached as Exhibit 99.1. No quantitative financial data, guidance, or narrative discussion is contained within the 8-K itself. The company also lists customary Item 9.01 disclosures for the exhibit and embeds the Inline XBRL cover-page data. The document therefore serves only as a procedural notice to investors that the official Q2 results should be reviewed in the separate press release rather than in this filing.
Form 144 Notice filed for Community Financial System regarding a proposed sale of securities by an insider. The filing details a planned sale of 2,619 shares of common stock with an aggregate market value of $148,261.59 on the NYSE, scheduled for June 25, 2025.
The securities to be sold were acquired through two transactions:
- 2,619 shares received as a stock award on June 13, 2025
- 380 shares from stock options exercise on December 3, 2020
The filing also discloses a previous sale by Susan Skerritt, who sold 380 shares for gross proceeds of $21,340.76 on June 3, 2025. The transaction will be executed through Commonwealth Financial Network in Waltham, MA. Total shares outstanding: 52,851,453.
Community Financial System (NYSE:CBU) announced its subsidiary Community Bank will acquire seven Santander Bank branches in the Allentown, Pennsylvania area. The transaction includes approximately $600 million in deposits and $33 million in branch-related loans. Community Bank will pay an 8.0% deposit premium, equating to roughly $48 million in cash consideration.
The deal also includes Nottingham Investment Services acquiring related wealth management relationships from Santander Securities LLC. The acquisition, subject to regulatory approvals and customary conditions, is expected to close in Q4 2025. The agreement includes standard employee retention provisions and non-compete covenants.
Director Neil E. Fesette of Community Financial System reported acquiring 211.9816 units of phantom stock through the company's Deferred Compensation Plan on June 20, 2025. The phantom stock units were acquired at a price of $54.25 per unit.
Key details of the transaction:
- Each phantom stock unit is economically equivalent to one share of common stock
- Total beneficial ownership following the transaction: 7,189.4647 units
- Includes 74.1117 units previously acquired through dividend reinvestment on April 10, 2025
- Settlement will occur in common stock at future dates chosen by the reporting person
- The filing was signed by Danielle M. Cima on behalf of Neil E. Fesette
This transaction represents deferred compensation for the director, structured to align with shareholder interests through phantom stock units that track the company's common stock performance.
Community Financial System, Inc. (NYSE: CBU) filed a Form 4 disclosing that director Michele Sullivan acquired 476.977 units of phantom stock on 20 Jun 2025 through the company’s Deferred Compensation Plan. Each phantom unit is economically equivalent to one share of common stock and will be settled in CBU shares at future dates chosen by the director. The transaction was coded “A” (acquisition) and priced at $54.25 per phantom unit. Following the grant, Sullivan’s aggregate holding under the plan increased to 2,204.3146 phantom units, which already includes 12.2453 units received on 10 Apr 2025 via the plan’s dividend-reinvestment feature. No derivative dispositions or open-market sales were reported, and the filing indicates the director continues to hold the units directly. The Form 4 does not reference any 10b5-1 trading plan or other contractual arrangements beyond normal deferred-compensation participation.