On June 1, 2022 (the “Closing Date”), Vecta Partners LLC (“Vecta Partners”), completed the previously announced acquisition of Sunnyside Bancorp Inc. (company), pursuant to the Agreement and Plan of Merger, dated as of June 16, 2021, as amended on August 26, 2021 (Merger Agreement), by and among Vecta Partners, Rhodium BA Merger Sub Inc. (“Merger Sub”), Mark Silber, the Company, and Sunnyside Federal Savings and Loan Association of Irvington (“Sunnyside Federal”). Pursuant to the Merger Agreement and subject to the terms and conditions thereof, on the Closing Date, Merger Sub merged with and into the Company (the “Merger”), with the Company continuing as the surviving corporation and a wholly-owned subsidiary of Vecta Partners. In connection with the Merger, as of the Effective Time, Timothy D. Sullivan, the Chief Executive Officer of the Company immediately prior to the Effective Time, resigned and ceased to be an officer of the Company.

Upon the Effective Time, Mr. Fredrick Schulman was appointed as Chief Executive Officer of the Company. Fredrick Schulman has over 35 years of experience as an investment banker, business and real estate principal, and attorney, and has developed substantial expertise in corporate, commercial, and real estate finance. Mr. Schulman was the former Chairman of the Board for New Bank, a profitable and successful community bank in the New York City marketplace specializing in small business lending solutions.

New Bank received the U.S. Small Business Administration's Pinnacle Award, the highest award issued by the Small Business Administration, for the past nine consecutive years. Mr. Schulman is also a Managing Partner of Rhodium Capital Advisors, a New York-based fully integrated real estate investment firm with a primary focus on the preservation, acquisition, and management of affordable housing across the United States.