Community Bank Systems in Syracuse, N.Y., has a new name.
The $15 billion-asset company said in a press release that it had rebranded at Community Financial System. The change “reflects the company’s broader business model and mission in contributing to the prosperity of its community.”
The new name “allows us to emphasize the evolution of our capabilities, solutions and focus,” Dimitar Karaivanov, the company’s president and CEO, said in the release. He noted that about 40% of the company’s revenue comes from fee income businesses.
“We have diligently diversified, invested in and nurtured our four key businesses and today offer a comprehensive set of banking, benefits administration, insurance and wealth management services both locally and on a nationwide basis,” he added.