Ankündigung • Oct 16
Generations Bancorp Files Form 15 Generations Bancorp NY, Inc. has announced that it has filed a Form 15 with the Securities and Exchange Commission to voluntarily deregister its Common Stock under the Securities Exchange Act of 1934, as amended. The par value of the company's Common Stock was $0.01 per share. Ankündigung • Sep 25
Generations Bancorp NY to Delist from Nasdaq Effective October 04 Generations Bancorp NY, Inc. ("Company") announced its voluntary decision to delist its common stock from The Nasdaq Stock Market LLC ("Nasdaq") and its intent to deregister its common stock with the Securities and Exchange Commission ("SEC"). The Company has notified Nasdaq of its intent to voluntarily delist and withdraw the registration of its common stock with the SEC. The Company intends to file a Form 25 (Notification of Removal from Listing) with the SEC on October 4, 2024, and expects the last trading day of the Company's common stock on Nasdaq will be on October 4, 2024. Following delisting from Nasdaq, the Company expects its common stock will be quoted on the OTCQX Market beginning on October 7, 2024 and expects to retain the symbol "GBNY." The Company also intends to file a Form 15 (Certification and Notice of Termination From Registration) with the SEC on or about October 14, 2024. Upon filing, the Company's obligation to file periodic reports with the SEC, including Forms 10-K, 10-Q and 8-K, will be suspended immediately and will terminate when deregistration becomes effective 90 days after the Form 15 is filed. New Risk • Sep 24
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of American stocks, typically moving 16% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (16% average weekly change). Earnings have declined by 36% per year over the past 5 years. Minor Risk Market cap is less than US$100m (US$24.7m market cap). Reported Earnings • Aug 10
Second quarter 2024 earnings released: US$0.39 loss per share (vs US$0.074 loss in 2Q 2023) Second quarter 2024 results: US$0.39 loss per share (further deteriorated from US$0.074 loss in 2Q 2023). Net loss: US$841.0k (loss widened 407% from 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Reported Earnings • May 15
First quarter 2024 earnings released: US$0.25 loss per share (vs US$0.068 loss in 1Q 2023) First quarter 2024 results: US$0.25 loss per share (further deteriorated from US$0.068 loss in 1Q 2023). Net loss: US$545.0k (loss widened 259% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Ankündigung • Apr 13
Generations Bancorp NY, Inc., Annual General Meeting, May 16, 2024 Generations Bancorp NY, Inc., Annual General Meeting, May 16, 2024, at 13:00 US Eastern Standard Time. Location: 20 East Bayard Street, Seneca Falls New York United States Agenda: To consider the election of three Directors; to consider the ratification of the appointment of bonadio & co., llp as independent registered public accounting firm for the year ending december 31, 2024; and to consider other matters as may properly come before the annual meeting, or any adjournments thereof. Reported Earnings • Apr 02
Full year 2023 earnings released: US$0.72 loss per share (vs US$0.47 profit in FY 2022) Full year 2023 results: US$0.72 loss per share (down from US$0.47 profit in FY 2022). Revenue: US$10.8m (down 16% from FY 2022). Net loss: US$1.57m (down 244% from profit in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 76 percentage points per year, which is a significant difference in performance. Ankündigung • Dec 01
Generations Bancorp NY, Inc. Appoints Angela Krezmer to Board of Directors On November 27, 2023, Generations Bancorp NY, Inc. appointed Angela Krezmer to the Company’s Board of Directors, effective immediately. Ms. Krezmer will serve in the Class of directors which expires at the annual meeting of the Company’s stockholders to occur in 2025. The Company also announced that Ms. Krezmer was appointed President and Chief Executive Officer of the Company and of Generations Bank. Since October 16, 2023, following the death of the Company’s previous President and Chief Executive Officer, Mr. Menzo Case, Ms. Krezmer, age 38, has been serving as the Company’s interim Principal Executive Officer, as well as the Company’s Chief Financial Officer. Since June 2021, Ms. Krezmer has served as the Company’s Chief Financial Officer and she continues to serve in this role. Prior to this appointment, from June 2020 until June 2021, Ms. Krezmer served as Chief Financial Officer of Prosper Bank, Coatesville, Pennsylvania. Prior to that role, Ms. Krezmer served for more than a decade at Fairport Savings Bank, Fairport, New York where she held various positions including Chief Financial Officer. Reported Earnings • Nov 10
Third quarter 2023 earnings released: US$0.30 loss per share (vs US$0.13 profit in 3Q 2022) Third quarter 2023 results: US$0.30 loss per share (down from US$0.13 profit in 3Q 2022). Revenue: US$2.28m (down 30% from 3Q 2022). Net loss: US$643.0k (down 314% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 50% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Ankündigung • Oct 18
Generations Bancorp NY, Inc. and Generations Bank Announces CEO Changes Generations Bancorp NY, Inc. and Generations Bank announced demise of Mr. Menzo Case as Chief Executive Officer passed away on October 13, 2023. The Company announced that effective October 16, 2023, Angela Krezmer, the Company’s Chief Financial Officer, has been appointed to serve as the Company’s interim Principal Executive Officer. Ms. Krezmer remains the Company’s Chief Financial Officer. Angela Krezmer, age 38, is the Company’s Chief Financial Officer, a position she has held since June 2021. Prior to this appointment, from June 2020 until June 2021, Ms. Krezmer served as Chief Financial Officer of Prosper Bank, Coatesville, Pennsylvania. Prior to that role, Ms. Krezmer served for more than a decade at Fairport Savings Bank, Fairport, New York where she held various positions including Chief Financial Officer. Ankündigung • Oct 17
Generations Bancorp NY, Inc. and Generations Bank Announces Demise of Mr. Menzo Case as President Generations Bancorp NY, Inc. and Generations Bank announced demise of Mr. Menzo Case as President. He passed away on October 13, 2023. He will be greatly missed and the Company and the Bank extend their sincere condolences to Mr. Case’s family. The Company announced that effective October 16, 2023, Angela Krezmer, the Company’s Chief Financial Officer, has been appointed to serve as the Company’s interim Principal Executive Officer. Ms. Krezmer remains the Company’s Chief Financial Officer. Angela Krezmer, age 38, is the Company’s Chief Financial Officer, a position she has held since June 2021. Prior to this appointment, from June 2020 until June 2021, Ms. Krezmer served as Chief Financial Officer of Prosper Bank, Coatesville, Pennsylvania. Prior to that role, Ms. Krezmer served for more than a decade at Fairport Savings Bank, Fairport, New York where she held various positions including Chief Financial Officer. Reported Earnings • Aug 05
Second quarter 2023 earnings released: US$0.07 loss per share (vs US$0.15 profit in 2Q 2022) Second quarter 2023 results: US$0.07 loss per share (down from US$0.15 profit in 2Q 2022). Revenue: US$2.86m (down 12% from 2Q 2022). Net loss: US$166.0k (down 148% from profit in 2Q 2022). Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Ankündigung • May 23
Generations Bancorp NY, Inc. Appoints Alicia H. Pender as Director Generations Bancorp NY, Inc. at the Annual Meeting of Stockholders on May 18, 2023, elected Alicia H. Pender as director of the Company for a three-year term or until his or her successor is duly elected and qualified. Reported Earnings • May 10
First quarter 2023 earnings released: US$0.07 loss per share (vs US$0.17 profit in 1Q 2022) First quarter 2023 results: US$0.07 loss per share (down from US$0.17 profit in 1Q 2022). Revenue: US$2.94m (down 13% from 1Q 2022). Net loss: US$152.0k (down 138% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 03
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to US$8.25, the stock trades at a trailing P/E ratio of 17.8x. Average trailing P/E is 8x in the Banks industry in the US. Total loss to shareholders of 13% over the past three years. Board Change • Apr 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Director James Gardner was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: US$0.47 (vs US$0.60 in FY 2021) Full year 2022 results: EPS: US$0.47 (down from US$0.60 in FY 2021). Revenue: US$12.9m (down 8.9% from FY 2021). Net income: US$1.09m (down 23% from FY 2021). Profit margin: 8.5% (down from 10.0% in FY 2021). The decrease in margin was driven by lower revenue. Net interest margin (NIM): 3.42% (down from 3.55% in FY 2021). Non-performing loans: 1.51% (up from 1.23% in FY 2021). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. Independent Director James Gardner was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: US$0.13 (vs US$0.074 in 3Q 2021) Third quarter 2022 results: EPS: US$0.13 (up from US$0.074 in 3Q 2021). Revenue: US$3.24m (down 12% from 3Q 2021). Net income: US$300.0k (up 73% from 3Q 2021). Profit margin: 9.3% (up from 4.7% in 3Q 2021). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 06
Second quarter 2022 earnings released: EPS: US$0.15 (vs US$0.16 in 2Q 2021) Second quarter 2022 results: EPS: US$0.15 (down from US$0.16 in 2Q 2021). Revenue: US$3.24m (down 7.8% from 2Q 2021). Net income: US$345.0k (down 6.5% from 2Q 2021). Profit margin: 11% (in line with 2Q 2021). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 07
First quarter 2022 earnings released: EPS: US$0.17 (vs US$0.15 in 1Q 2021) First quarter 2022 results: EPS: US$0.17 (up from US$0.15 in 1Q 2021). Revenue: US$3.36m (up 1.2% from 1Q 2021). Net income: US$396.0k (up 12% from 1Q 2021). Profit margin: 12% (up from 11% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 69% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 6 experienced directors. 5 highly experienced directors. Independent Director James Gardner was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Ankündigung • Apr 15
Generations Bancorp NY, Inc., Annual General Meeting, May 19, 2022 Generations Bancorp NY, Inc., Annual General Meeting, May 19, 2022, at 13:00 US Eastern Standard Time. Location: 20 East Bayard Street, Seneca Falls New York United States Agenda: To consider the election of three Directors; to consider the ratification of the appointment of Bonadio & Co., LLP as independent registered public accounting firm for the year ending December 31, 2022; to consider the approval of the Generations Bancorp 2022 Equity Incentive Plan; and to consider other matters. Reported Earnings • Mar 29
Full year 2021 earnings released: EPS: US$0.60 (vs US$0.71 in FY 2020) Full year 2021 results: EPS: US$0.60 (down from US$0.71 in FY 2020). Revenue: US$14.1m (up 1.0% from FY 2020). Net income: US$1.41m (down 19% from FY 2020). Profit margin: 10.0% (down from 13% in FY 2020). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 07
Third quarter 2021 earnings released: EPS US$0.07 (vs US$0.26 in 3Q 2020) The company reported a poor third quarter result with weaker earnings and profit margins, although revenues were flat. Third quarter 2021 results: Revenue: US$3.67m (flat on 3Q 2020). Net income: US$173.0k (down 73% from 3Q 2020). Profit margin: 4.7% (down from 18% in 3Q 2020). Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Reported Earnings • Aug 09
Second quarter 2021 earnings released: EPS US$0.16 (vs US$0.28 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$3.51m (down 1.2% from 2Q 2020). Net income: US$369.0k (down 46% from 2Q 2020). Profit margin: 11% (down from 19% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 100% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Is New 90 Day High Low • Feb 13
New 90-day low: US$9.48 The company is down 3.0% from its price of US$9.80 on 11 November 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Mortgage industry, which is up 4.0% over the same period. 