secwatch.observer — SEC 8-K summary
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Issuer:     Generations Bancorp NY, Inc. (GBNY)
CIK:        0001823365
Form:       8-K
Filed at:   2024-09-24T23:59:59+00:00
Accession:  0001104659-24-102170
Event type: m_and_a
Sentiment:  positive
Materiality: 0.90
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Generations Bancorp sells bank to ESL FCU for $26.2M; shareholders to get $18-20/share
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- ESL Federal Credit Union to acquire substantially all assets and assume liabilities of Generations Bank in all-cash deal.
- Base purchase price $26.2M; per-share consideration estimated at $18.00-$20.00 for GBNY common stock.
- 2,241,801 shares outstanding; shareholders to receive payments in two tranches over 12-18 months post-close.
- Transaction expected to close late Q2 or Q3 2025, subject to regulatory and shareholder approvals.
- Upon closing, Generations Bank will liquidate; Generations Bancorp will dissolve after asset distribution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823365/000110465924102170/0001104659-24-102170-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823365/000110465924102170/tm2424547d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-102170

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