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ESL completes $26.2M acquisition, expands regional footprint
ESL completes $26.2M acquisition, expands regional footprint
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ESL Federal Credit Union has completed its acquisition of substantially all of the assets of Generations Bancorp NY, Inc., the holding company of Generations Bank, significantly expanding its presence across Greater Rochester and the Finger Lakes region.
The transaction, which closed Jan. 1, follows the $26.2 million acquisition announced in 2024 and required regulatory approval from the Federal Deposit Insurance Corp., National Credit Union Administration and the Office of the Comptroller of the Currency. All approvals were received in 2025.
With the deal complete, ESL now holds more than $9.8 billion in assets and employs more than 1,000 people. The acquisition adds eight branch locations, bringing ESL’s total to 33 full-service branches throughout Greater Rochester and the Finger Lakes.
The expansion gives ESL a new branch presence in Cayuga, Orleans and Seneca counties, while also strengthening its footprint in Ontario County.
“We’re excited to complete the acquisition of Generations Bank, marking a significant milestone for ESL and for the communities we serve,” said Faheem Masood, ESL president and CEO. “We look forward to building new relationships with employees, customers, local businesses and partners that are now part of our shared home. We also commit to investing in the people and places across Cayuga, Ontario, Orleans and Seneca counties.”
ESL said the transaction supports its long-term growth strategy by expanding access to financial services in underserved and growing markets while maintaining a focus on community investment and local decision-making.
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