Community Bank System Acquires Fringe Benefits Design of Minnesota
July 1, 2021
Community Bank System, Inc. (NYSE: CBU) has acquired Fringe Benefits Design of Minnesota, Inc. (FBD), a retirement plan administration and benefits consulting firm. FBD will become a subsidiary of Benefit Plans Administrative Services, Inc. (BPAS), expanding BPAS's benefits administration footprint in the Midwest and complementing its existing retirement plan and trust services.
- Buyers
- Community Bank System, Inc., Benefit Plans Administrative Services, Inc. (BPAS)
- Targets
- Fringe Benefits Design of Minnesota, Inc.
- Industry
- Financial Services
- Location
- Minnesota, United States
- Transaction Type
- Buyout
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