Community Bank System, Inc. is a single bank holding company which wholly owns five subsidiaries: Community Bank, N.A. (the Bank), Benefit Plans Administrative Services, Inc. (BPAS), CFSI Closeout Corp. (CFSICC), First of Jermyn Realty Company, Inc. (FJRC) and Town & Country Agency LLC (T&C). BPAS owns three subsidiaries, Benefit Plans Administrative Services LLC (BPA), Harbridge Consulting Group LLC (Harbridge) and Hand Benefit & Trust Company (HBT). BPAS provides administration, consulting and actuarial services to sponsors of employee benefit plans. CFSICC, FJRC and T&C are inactive companies. The Company also wholly owns two unconsolidated subsidiary business trusts formed for the purpose of issuing mandatorily redeemable preferred securities, which are considered Tier I capital under regulatory capital adequacy guidelines.