Generations Bancorp NY’s Conversion and Stock Offering

Luse Gorman, PC advised Generations Bancorp NY, Inc. on the deal.

Generations Bancorp NY, Inc., Seneca Falls, New York, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering. A total of 1,477,575 shares of common stock were sold in the subscription offering at a price of $10.00 per share. In connection with the conversion, Seneca-Cayuga Bancorp, Inc. was succeeded by a new holding company named “Generations Bancorp NY, Inc.”

Generations Bancorp NY, Inc. has approximately $370.0 million in total assets. Generations Bancorp NY, Inc.’s wholly owned subsidiary, Generations Bank, operates its corporate office and ten full-service branches throughout the Finger Lakes region of Western New York.

Luse Gorman served as legal counsel to Generations Bancorp NY, Inc. in the conversion and offering. The Luse Gorman team included Kip Weissman (Picture), Steve Lanter and Max Seltzer.

Involved fees earner: Steven Lanter – Luse Gorman, PC; Max Seltzer – Luse Gorman, PC; Kip Weissman – Luse Gorman, PC;

Law Firms: Luse Gorman, PC;

Clients: Generations Bancorp NY, Inc.;


Author: Ambrogio Visconti