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Sunnyside Bancorp Announces Rhodium BA Holdings to Acquire Company for $18 75 per Share
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What s driving nonbanks to buy banks? Cheap deposits
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What s driving nonbanks to buy banks? Cheap deposits | National Mortgage News
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Real estate company agrees to buy Sunnyside Bancorp in New York
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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.