M&A Deal Summary

Community Bank Acquires Fringe Benefits Design

On July 1, 2021, Community Bank acquired business services company Fringe Benefits Design

Acquisition Highlights
  • This is Community Bank’s 2nd transaction in the Business Services sector.
  • This is Community Bank’s 1st transaction in the United Kingdom.
  • This is Community Bank’s 1st transaction in Minnesota.

M&A Deal Summary
Date 2021-07-01
Target Fringe Benefits Design
Sector Business Services
Buyer(s) Community Bank
Deal Type Add-on Acquisition

Target

Fringe Benefits Design

Bloomington, Minnesota, United Kingdom
website
Fringe Benefits Design provides actuarial, benefits, and consulting services on an independent, fee-for-service basis. Fringe Benefits Design was founded in 1990 and is based in Bloomington, Minnesota.

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Buyer(S) 1

Buyer

Community Bank

Dewitt, New York, United States

website

Category Company
Founded 1866
Sector Financial Services
Employees2,839
Revenue 679M USD (2022)
DESCRIPTION

Community Bank is a financial company that provides various deposit products including checking, savings and money market accounts as well as time deposits. Community Bank was incorporated in 1866 and is based in Dewitt, New York.

DEAL STATS #
Overall 13 of 13
Sector (Business Services) 2 of 2
Type (Add-on Acquisition) 10 of 10
State (Minnesota) 1 of 1
Country (United Kingdom) 1 of 1
Year (2021) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-21 Steuben Trust

Hornell, New York, United States

Steuben Trust Corp. is a financial service holding company for Steuben Trust Company. The bank’s business, municipal, and consumer customers enjoy personalized relationships, online and mobile banking options, with 15 branches in Western New York.

Buy $107M
Mergr

Product

Company

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