Generations Bancorp NY, Inc. (GBNY) on September 24, 2024, entered a purchase and assumption agreement with ESL Federal Credit Union where ESL will acquire all of the assets and liabilities of Generations Bank for $26.2 million in an all-cash transaction.
ESL will pay Generations about $11.69 per share, based on Generations’ outstanding shares, representing a 6.27% premium from the stock’s last close.