A new name will now be synonymous with Community Bank.

In a news release issued Wednesday, Community Bank System, Inc., a diversified financial services holding company operating four complementary business units: Community Bank N.A., Benefit Plan Administrative Services, Inc., OneGroup NY, Inc., and Wealth Management, announced that it has changed its corporate name to “Community Financial System, Inc. The name change reflects the company’s broader business model and mission in contributing to the prosperity of its community, including its clients, colleagues and shareholders by providing comprehensive financial services across its four main business lines.

“The new name – Community Financial System – allows us to emphasize the evolution of our capabilities, solutions and focus,” said Dimitar A. Karaivanov, President and CEO of the Company. “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.”

The Company’s ticker symbol will not change and its common stock will start trading on the New York Stock Exchange as Community Financial System, Inc. on May 24.