---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-081498"
form_type: "8-K"
ticker: "GBNY"
cik: "0001823365"
company_name: "Generations Bancorp NY, Inc."
filed_at: "2024-07-22T23:59:59+00:00"
generated_at: "2026-05-31T18:36:29.138942+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Generations Bank enters OCC supervisory agreement over unsafe practices

## Summary
- OCC found unsafe/unsound practices in board oversight, strategic planning, liquidity and interest rate risk management.
- Bank must appoint a Compliance Committee of at least 3 directors, majority non-employee, within 15 days.
- Requires written Board Oversight and Corporate Governance Program within 90 days, subject to OCC no-objection.
- Must submit a three-year Strategic Plan within 120 days; annual updates and quarterly performance evaluations required.
- Liquidity and interest rate risk management programs must be developed within 90 days, including contingency funding and stress testing.

## SEC filing metadata
- accession: 0001104659-24-081498
- form_type: 8-K
- ticker: GBNY
- cik: 0001823365
- company_name: Generations Bancorp NY, Inc.
- filed_at: 2024-07-22T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823365/000110465924081498/0001104659-24-081498-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823365/000110465924081498/tm2419861d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-081498
- JSON: https://secwatch.observer/filing/0001104659-24-081498.json
- Plain text: https://secwatch.observer/filing/0001104659-24-081498.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.