On June 24, 2025, Community Bank, N.A. (“Community Bank”), a subsidiary of Community Financial System, Inc., entered into a Purchase and Assumption Agreement with Santander Bank, N.A., to acquire seven branch locations in the Allentown, PA area. Under the agreement, Community Bank will assume approximately $600 million in deposits and purchase approximately $33 million in branch-related loans. In addition, Community Bank will purchase related wealth management relationships.

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

Luse Gorman has acted as counsel on more than 150 bank M&A transactions during the past ten 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.