Generations Bancorp's $26.2M Sale To ESL Federal: Big Payouts Await Shareholders As Bank Prepares For Liquidation
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 24 2024
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Source: Benzinga
Transaction Overview: Generations Bancorp NY, Inc. is selling most of its assets and liabilities to ESL Federal Credit Union for $26.2 million, with shareholders expected to receive between $18.00 and $20.00 per share after the transaction closes in late 2025.
Stock Market Changes: Following the sale, Generations Bancorp plans to delist its common stock from Nasdaq and will begin trading on the OTCQX Market under the symbol "GBNY" starting October 7, 2024.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
