GENERATIONS BANCORP NY, INC. ANNOUNCES AMOUNT OF FINAL DISSOLUTION PAYMENT
Seneca Falls, New York – September 29, 2026 – Generations Bancorp NY, Inc. (the “Company”), the former parent holding company for the former Generations Bank, announced that, based on the Company’s financial condition at September 25, 2026, the Company’s final payment shareholders will receive in the dissolution of the Company is $16.30 in cash in exchange for each share of the Company’s common stock owned (the “per share consideration”). As previously disclosed, the per share consideration is payable to stockholders of record as of the close of business on September 15, 2026. The dissolution distribution is expected to be paid on September 30, 2026.
The Company has appointed Pacific Stock Transfer as its transfer agent and to serve as paying agent for the dissolution distribution. Stockholders who hold shares of Company common stock in book entry form at Pacific Stock Transfer will receive checks for their cash distribution, and their shares will be cancelled. Stockholders who hold shares through a broker or other DTC-registered nominee will receive their cash distribution directly into their account at the broker or other nominee, and their shares will be cancelled.
The Company is in the process of dissolving and winding up its business, which is expected to take up to two years. In accordance with the Plan of Liquidation and Dissolution approved by the Company’s stockholders, the Company intends to donate any residual funds remaining after the wind up is completed, which are expected to be nominal, to one or more charitable organizations.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements are not historical or current facts and they often include words like “believe,” “expect,” “anticipate,” “estimate,” “intend” or similar terminology. Factors that could cause actual results to differ materially from those expected include delays in completing the liquidation and the dissolution and taxes to be paid by the Company. Except as required by law, the Company undertakes no obligation to update any forward-looking statement to reflect circumstances or events that occur after the date the forward-looking statement is made.
Contact for Generations Bancorp NY, Inc.:
Angela Krezmer, President and Chief Executive Officer
Generations Bancorp NY, Inc.
angela.krezmer@generationsbancorpny.com