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Community Bank to expand retirement-plan administration business with $140M acquisition

DeWITT, N.Y. — Community Bank System, Inc. (NYSE: CBU) on Dec. 5 announced it will acquire Northeast Retirement Services, Inc. (NRS) — a privately held, Woburn, Massachusetts–based retirement-plan administrative services firm — for about $140 million in cash and stock. After the deal closes, NRS will become a subsidiary of Benefit Plans Administrative Services, Inc. (BPAS),

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