M&A Deal Summary

Norwood Financial Acquires USNY Bank

On January 9, 2020, Norwood Financial acquired financial services company USNY Bank

Acquisition Highlights

This is Norwood Financial’s 2nd transaction in the Financial Services sector.
This is Norwood Financial’s 2nd transaction in the United States.
This is Norwood Financial’s 2nd transaction in New York.

M&A Deal Summary
Date	2020-01-09
Target	USNY Bank
Sector	Financial Services
Buyer(s)	Norwood Financial
Deal Type	Add-on Acquisition
Advisor(s)	Boenning & Scattergood (Financial) Stevens & Lee (Legal)

Target

USNY Bank

Geneva, New York, United States

UpState New York Bancorp, Inc. is the holding company for USNY Bank, a New York chartered bank that conducts its business from its two Bank of the Finger Lakes offices in Geneva and Penn Yan, New York, and two Bank of Cooperstown offices in Cooperstown and Oneonta, New York. As of September 30, 2019, UpState had total assets of $435.9 million, total net loans of $379.2 million, total deposits of $387.1 million and total stockholders' equity of $45.3 million.

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