Recent Updates — SNNF
Seneca Savings Bank and its subsidiary, Seneca Savings Insurance Agency (doing business as Financial Quest), sold substantially all assets of their financial advisory and investment services business to Boshart Wealth Management, LLC for $1,400,000. The transaction closed on October 26, 2026. The agreement includes a three-year non-compete clause and requires the Bank to lease premises to the Buyer at specified monthly rents with an extension option. Seneca Bancorp operates as a bank holding company in New York.
Seneca Bancorp, Inc. announced the adoption of a new stock repurchase program authorizing the buyback of up to 144,411 shares of common stock, representing approximately 8.0% of its outstanding shares. This is the company's first repurchase authorization since completing its second-step conversion and related stock offering in October 2025. Repurchases may occur through open market transactions, private deals, or block trades at management's discretion, subject to market conditions and liquidity. The program does not obligate the company to purchase any specific number of shares and may be suspended or terminated at any time. Executions are expected to begin after the release of third-quarter 2026 financial results. Seneca Bancorp is a bank holding company operating Seneca Savings Bank in New York.
On September 4, 2026, Kimberly A. Boynton resigned from the Board of Directors of Seneca Bancorp, Inc. and its wholly-owned subsidiary, Seneca Savings Bank, National Association, effective immediately. The resignation was due to her intent to pursue other outside interests and did not result from any disagreement with the company or management regarding operations or policies. Seneca Bancorp operates in the banking industry as a bank holding company.
Seneca Bancorp, Inc. announced the retirement of CFO Vincent Fazio on June 30, 2026, who will transition to a consulting role at $1,000 per month and receive an increased annual early retirement benefit of $15,000. The company also appointed Angela Krezmer as CFO effective July 1, 2026, with a $220,000 annual salary, and Angelo Testani as EVP and Chief Banking Officer with a $201,375 annual salary.