Indiana’s “Funeral Centric” bank sold — Sale price said to be $40 million

February 4, 2026/Business, Finance/

In a press release issued earlier in January 2026 out of Batesville, Indiana, ClearPoint Federal Bank & Trust made the following statement:

“ClearPoint Federal Bank & Trust, a federally chartered savings bank that has been providing trust and recordkeeping services to the funeral and cemetery industry since 1998, announced today that Community Bank, N.A., the wholly-owned banking subsidiary of Community Financial System, Inc. (NYSE: CBU) has entered into an agreement to acquire ClearPoint. CFSI expects the transaction to close in the second quarter of 2026.. . “

If you would go to the website of ClearPoint Federal Bank & Trust, which you can access here, you will find the following statement under the company’s history:

“ClearPoint, an industry leader in funeral and cemetery trusts, was founded in 1998 as Forethought Federal Savings Bank, a division of Hillenbrand Industries, and has operated as an independently owned Bank since 2007. On January 1, 2014 Forethought Federal Savings Bank changed its name to ClearPoint Federal Bank & Trust (ClearPoint). Today, ClearPoint serves customers in 43 states and the District of Columbia. Our federal charter, and associated order, give us the authority to provide funeral and cemetery trust related services in all 50 states, consistent with each state’s regulatory requirements.”

The ClearPoint press release goes on to make the following statement:

“We are very excited about joining a company that is dedicated to growing ClearPoint and supports our mission. As part of CFSI, we will continue to build on our legacy of knowledge, experience and dedication. This transaction speaks to the value of the knowledge and commitment to the industry that our team has built over the last 28 years and provides a solid foundation for a successful future” stated Ashlee Theising, President and CEO.

ClearPoint, with over $1.5 billion in assets under management, is a national death care industry leader providing preneed trust, recordkeeping, investment management and compliance services to clients in over 44 states and the District of Columbia. ClearPoint will become a new division of Community Bank, N.A.’s wealth management services group – Nottingham Financial Group (“NFG”). ClearPoint and its employees will continue to focus on servicing the death care industry while benefiting from the resources and support of both Nottingham Financial Group and Community Bank, N.A. as well as CFSI’s other business units.”

The acquirer of ClearPoint is publicly stock-owned Community Financial System of New York and they issued their own press release on the acquisition which you can see here. According to that release, “Community Financial System, Inc. is a diversified financial services company that is focused on four main business lines – banking services, employee benefit services, insurance services and wealth management services. Its banking subsidiary, Community Bank, N.A., is among the country’s 100 largest banking institutions with over $16 billion in assets and operates approximately 200 customer facilities across Upstate New York, Northeastern Pennsylvania, Vermont, Western Massachusetts, and Southern New Hampshire. . . “

Value at $40 Million — Additional information from MT Newswire:

07:19 AM EST, 01/15/2026 (MT Newswires) — Community Financial System (CBU) said Thursday (1/15) that its banking subsidiary, Community Bank, has agreed to acquire ClearPoint Federal Bank & Trust for $40 million in an all-cash transaction.

ClearPoint, which has more than $1.5 billion in assets under management, will retain its brand and current offerings following the acquisition, the company said.

The transaction is expected to close in Q2.

Related Article — A recent Seeking Alpha opinion was written on Community Financial Systems on January 27, 2026, titled, “Community Financial System: Still offering growth at a reasonable price”

Tom Anderson
Funeral Director Daily

Funeral Director Daily take: This is another change in the greater Death Care universe. For someone who has been around the Death Care world for over 60 years it brings back many memories and also brings into focus on how things change. . . . First of all when I see the founding of Clearpoint in 1998 it corresponds with the growth of the Forethough preneed company also founded by Batesville. Forethought, if you follow it back like I can has went on to become part of the Global Atlantic Financial Group, which now also offers preneed insurance and is owned by investment firm KKR.

I don’t know the total history of ClearPoint, but it is suggestive that it was once a part of Hillenbrand Industries that also controlled Batesville Casket. Coupled with the pending sale of Hillenbrand Industries to Lone Star Funds it marks an end for me of a life-long perception of Batesville, Indiana, as the center of the Death Care universe.

Over the years, I’ve met and became friends with many individuals who went through Batesville, Indiana, on their Death Care employment journey. And, like almost every one I know in Death Care, they have all been wonderful human beings with their commonality being the “Batesville connection”.

On the positive side for Funeral Director Daily. . . .We will take a look at ClearPoint’s fundamental size within the Community Financial System corporate structure to see if it is worth considering as another public company within Funeral Director Daily’s Death Care Index (DCI).

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