ESL Federal Credit Union Agrees To Acquire Substantially All Assets And Liabilities (Including Deposit Account Liabilities) Of Generations Bank; To Pay Generations $26.2M In Cash
Portfolio Pulse from Benzinga Newsdesk
ESL Federal Credit Union is set to acquire most assets and liabilities of Generations Bank for $26.2 million in cash. Generations Bancorp shareholders are expected to receive $18.00 to $20.00 per share. The transaction is anticipated to close in late Q2 or Q3 of 2025.
September 24, 2024 | 9:06 am
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Generations Bancorp is being acquired by ESL Federal Credit Union, with shareholders expected to receive $18.00 to $20.00 per share. The transaction is set to close in late Q2 or Q3 of 2025.
The acquisition by ESL Federal Credit Union is a significant event for Generations Bancorp, directly affecting its stock price. The per-share consideration provides a clear valuation for shareholders, likely leading to a positive short-term impact on GBNY's stock price.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100