Generations Bancorp outsources insurance agency operations and sells book of business to Northwoods

Generations Bancorp NY, Inc.

Management agreement effective April 1, 2022; Northwoods assumes customer service for Generations Insurance Agency.
Purchase agreement for Agency's book of business set for January 1, 2024.
Purchase price payable to the Bank over a six-year period.
No financial terms of the agreements were disclosed.

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