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A real estate company in South Florida has agreed to buy Sunnyside Bancorp in Irvington, N.Y. DLP Real Estate Capital said that DLP Bancshares, an affiliate based in St. Augustine, Fla., would pay about $12.3 million in cash for the parent of the $96.6 million-asset Sunnyside Federal Savings and Loan Association of Irvington. The deal is expected to close in the fourth quarter. Under the terms of the agreement, shareholders of Sunnyside Bancorp will receive $15.55 in cash per share, subject to adjustment as provided in the merger agreement.  This transaction is subject to regulatory approval and approval by the Westchester bank’s shareholders. Upon closing, Fred Reinhardt will take the reins as President and CEO of Sunnyside Federal.

United statesFred reinhardtTimothyd sullivanDon wennerStifel companyBallard spahrSunnyside bancorp incSunnyside bancorpBoard of directors sunnyside bancorp incKafafian groupLoan association of irvingtonSouth floridaEstate capitalSunnyside federal savingsLoan associationEstate capital founder