On January 12, 2021, 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.”

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

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.

Since 2000, Luse Gorman has been the leading law firm in the United States in mutual holding company transactions and mutual-to-stock conversions, based on number of transactions. Click here to learn more about our capital markets and corporate finance services.