Community Financial System appoints John Vaccaro to board of directors

NEW YORK - Community Financial System, Inc. (NYSE:CBU), a $3.2 billion market cap financial services company currently trading below its InvestingPro Fair Value, announced the appointment of John A. Vaccaro to its Board of Directors effective October 1, 2025.

Vaccaro, who is Chairman Emeritus of MML Investors Services, LLC, will join as an independent director. He previously led MassMutual Financial Advisors and served as CEO of MML Investors Services from 2009 until March 2025, overseeing a team of over 7,500 financial advisors managing more than $285 billion in assets. His appointment comes as four analysts have revised their earnings expectations upward for the upcoming period, according to InvestingPro data.

With Vaccaro's appointment, Community Financial System's board will consist of 13 directors, 12 of whom are independent. He will also join the Board of Directors of Community Bank, N.A., the company's banking subsidiary, and serve on its Trust Committee.

"John brings to the Board a proven track record of scaling a complex, large financial services business with substantial market position," said Dimitar A. Karaivanov, President and Chief Executive Officer, in the press release.

Vaccaro currently serves on the Board of Governors of the Financial Industry Regulatory Authority (FINRA) and previously served on its regional district committee. He was also a Director of the Securities Industry and Financial Markets Association from 2022 to 2024.

Community Financial System operates in four main business lines: banking services, employee benefit services, insurance services, and wealth management services. Its banking subsidiary, Community Bank, N.A., has over $16 billion in assets and operates approximately 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, and Western Massachusetts. The company has maintained a strong dividend track record, raising payments for 27 consecutive years. Discover more insights about CBU and 1,400+ other stocks through comprehensive Pro Research Reports available on InvestingPro.

In other recent news, Community Financial System reported its second-quarter 2025 earnings, posting an earnings per share (EPS) of $1.04, which surpassed analysts' expectations of $1.01. However, the company's revenue fell short, reaching $199.3 million compared to the anticipated $201.23 million. This earnings report was followed by Raymond James reiterating its Strong Buy rating on Community Financial stock with a price target of $73.00, despite the earnings miss. Conversely, Keefe, Bruyette & Woods (KBW) lowered its price target for the company to $67.00, maintaining a Market Perform rating, citing the quarter as "relatively in line" but noting weaker-than-expected fee income.

Additionally, Community Financial System announced a minority investment of approximately $37.35 million in Leap Holdings, Inc., as part of its strategy to expand its diversified financial services portfolio. In another development, the company disclosed the planned retirement of Jeffrey M. Levy, Senior Vice President and Chief Banking Officer, effective December 31, 2025. Mr. Levy has held various leadership roles within the company, including President of Commercial Banking. These recent developments reflect ongoing strategic moves and leadership changes within Community Financial System.

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