DLP Real Estate Capital entered into an agreement to acquire Sunnyside Bancorp, Inc. (OTCPK:SNNY) for $12.3 million on March 16, 2021. Under the terms of the agreement, shareholders of Sunnyside Bancorp will receive $15.55 in cash per share, subject to adjustment, if any, as provided in the merger agreement. Upon closing, Fred Reinhardt, a seasoned banking professional, will take the reins as President and Chief Executive Officer of Sunnyside Federal. Sunnyside Federal, subsidiary of Sunnyside Bancorp, will continue to operate as a community bank. The Merger Agreement provides certain termination rights for both DLP Real Estate and Sunnyside Bancorp, and further provides that upon termination of the Merger Agreement under certain circumstances, Sunnyside Bancorp will be obligated to pay DLP Real Estate a termination fee of $615,000. The merger agreement further provides that upon termination of the merger agreement under certain circumstances, either DLP Real Estate or Wenner will be obligated to pay Sunnyside Bancorp a termination fee of $615,000. Those funds were placed in escrow at the time of the execution of the merger agreement. Under the Merger Agreement, all current directors of Sunnyside Bancorp and Sunnyside Federal will resign, except for one current director of Sunnyside Bancorp to be selected by DLP Real Estate, who will remain a director of Sunnyside Federal. This transaction is subject to regulatory approval, expiration of applicable waiting periods, third party consent and approval by Sunnyside Bancorp's shareholders. The transaction is expected to close in the fourth quarter of 2021. Robin Suskind of Keefe, Bruyette & Woods, a Stifel Company, acted as financial advisor to Sunnyside Bancorp, Inc. and rendered a fairness opinion to the Board of Directors of Sunnyside Bancorp, Inc. in conjunction with this transaction. The Kafafian Group advised DLP. Scott A. Coleman, April Hamlin, Jonathan R. Flora and Joshua T. Natzel of Ballard Spahr LLP acted as legal advisors to DLP Bancshares and Kip A. Weissman of Luse Gorman, PC served as legal counsel to Sunnyside Bancorp and Sunnyside Federal. DLP Real Estate Capital cancelled the acquisition of Sunnyside Bancorp, Inc. (OTCPK:SNNY) on June 16, 2021. In accordance with the terms of the transaction, DLP was paid a termination fee of $615,000. Also, the parties agreed to release the $615,000 of funds that Donald Wenner had placed in escrow at the time of execution of the agreement.