EX-99.1 2 ex99-1_8k101525.htm PRESS RELEASE DATED OCTOBER 15, 2025 EXHIBIT 99.1 Seneca Bancorp Announces Closing of Conversion Transaction BALDWINSVILLE, N.Y. - October 15, 2025 - Seneca Bancorp, Inc. (“Seneca Bancorp”) (OTCQX: SNNF), the holding company for Seneca Savings Bank, National Association (the “Bank”), announced that the conversion of Seneca Financial MHC from the mutual holding company form of organization to the fully public stock holding company form of organization, Seneca Bancorp’s related stock offering and the Bank’s charter conversion from a federal savings association to a national association was completed following the close of business today. Seneca Bancorp’s common stock is expected to be quoted on the OTCQX Market under the trading symbol “SNNF” beginning on October 16, 2025. As a result of its subscription and community offerings, Seneca Bancorp sold a total of 1,044,858 shares of its common stock (approximately the midpoint of the offering range) at a price of $10.00 per share, which included 83,588 shares sold to the Bank’s Employee Stock Ownership Plan, for total gross proceeds of approximately $10.4 million. Seneca Bancorp’s transfer agent, Equi…
Open exhibit ↗Current Report · Items 8.01, 9.01 · 8-K
Seneca Bancorp, Inc.
SNNFOTCEQUITYCurrent
Other Events
Item 8.01. Other Events. On October 15, 2025, Seneca Bancorp, Inc., a Maryland corporation (the “Company”) issued a press release to announce the completion of the conversion of Seneca Financial MHC from the mutual holding company form of organization to the fully public stock holding company form of organization, the related stock offering and Seneca Savings Bank’s charter conversion from a feder…
Company context
Seneca Bancorp is a newly formed Maryland corporation. Following the completion of the conversion and stock offering, Seneca Bancorp will succeed Seneca Financial Corp. as the publicly traded holding company of Seneca Savings. Our executive offices are located at 35 Oswego Street, Baldwinsville, New York 13027, and our telephone number at this address is (315) 638-0233. Our website address is www.senecasavings.com. Information on our website is not and should not be considered a part of this prospectus.