Generations Bancorp NY in Seneca Falls has entered into a written agreement with the Office of the Comptroller of the Currency tied to managing its balance sheet.
The $411 million-asset company disclosed in a regulatory filing that the July 19 agreement requires it to develop written programs for liquidity risk management and interest rate management.
Generations must form a compliance committee and prepare a written board oversight and corporate governance program. The agreement also mandates that the company prepare a written strategic plan for the next three years.