On November 7, 2025, Community Bank, N.A. (“Community Bank”), a wholly-owned subsidiary of Community Financial System, Inc., 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., 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.

Community Financial System, Inc. is a diversified financial services company focused on four main business lines: banking, employee benefit services, insurance services and wealth management services. Its banking subsidiary, Community Bank, has over $16 billion in assets and operates approximately 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont and Western Massachusetts.

Luse Gorman served as legal counsel to Community Bank in the transaction. The Luse Gorman team consisted of Jeff Cardone, Ben Azoff and Agata Troy.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and on more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.