SCHEDULE: Mark Zames Boosts Stake in Seneca Bancorp to 9.2%

Mark Zames, Chairman of Seneca Bancorp, Inc., increased his beneficial ownership to 9.2% of the common stock for investment purposes.

Summary

• Mark Zames, a business consultant and investor, reported beneficial ownership of 165,023 shares of Seneca Bancorp, Inc. common stock.
• This represents 9.2% of the 1,792,992 shares deemed outstanding for the purpose of this filing.
• The shares were acquired using personal funds, and the stated purpose is for investment.
• Mr. Zames, who is also the Chairman of the Board of Directors, will continue to evaluate potential transactions for the Issuer, including acquisitions, dispositions, mergers, changes in board/management, capitalization, or dividend policy.
• A recent transaction on October 15, 2025, involved the direct purchase of 25,000 shares at $10.00 per share.

Sentiment

Score: 7

Explanation: The filing indicates a significant increase in beneficial ownership by the Chairman of the Board, signaling strong insider confidence and a long-term investment perspective, which is generally positive for investor sentiment.

Positives

• A director and Chairman of the Board, Mark Zames, increased his stake, signaling confidence in the company's future.
• The acquisition was made using personal funds, indicating a direct financial commitment from an insider.
• The stated purpose is for investment, suggesting a long-term perspective on the company's value.

Future Outlook

Mark Zames, as a director, intends to continue evaluating potential strategic transactions for Seneca Bancorp, Inc., including mergers, acquisitions, changes in board or management, capitalization, or dividend policy, and may acquire or dispose of additional securities.

Management Comments

• Mr. Zames may, from time to time, acquire additional securities of the Issuer using personal funds through a broker and/or privately negotiated transactions or dispose of securities.
• Mr. Zames does not currently have specific plans or proposals for the Issuer but as a director of the Issuer will continue to evaluate plans or proposals for transactions if applicable such as the acquisition or disposition of securities of the Issuer, mergers or acquisitions relating to the Issuer or its subsidiaries, changes in the board of directors or management of the Issuer, changes in the capitalization or dividend policy of the Issuer, changes in the Issuer's business, changes in the Issuer's Articles of Incorporation or Bylaws or other similar related transactions.

Industry Context

This filing indicates an insider, the Chairman of the Board, is increasing his stake in a financial institution. Such actions can be seen as a vote of confidence in the company's prospects within the banking or financial services sector, potentially signaling stability or anticipated growth.

Comparison to Industry Standards

• Insider buying, especially by a Chairman, is generally viewed positively by the market.
• A 9.2% stake by a director is a significant holding, often exceeding typical director ownership percentages in similar-sized regional banks or financial services firms, aligning the director's interests closely with those of other shareholders.

Stakeholder Impact

• Shareholders: Potential positive signal due to increased insider ownership, aligning management interests with shareholders.
• Management/Board: Mark Zames, as Chairman, has a significant stake, potentially influencing strategic decisions and corporate governance.

Next Steps

• Mark Zames may acquire additional securities of the Issuer.
• Mark Zames may dispose of securities of the Issuer.
• Mark Zames will continue to evaluate plans or proposals for transactions, including mergers, acquisitions, changes in board/management, capitalization, or dividend policy.

Key Dates

Recommendation

The increase in beneficial ownership by the Chairman of the Board, Mark Zames, to 9.2% of Seneca Bancorp, Inc. common stock, signals strong insider confidence and a long-term investment perspective. This is generally a positive indicator for the company's future prospects. However, without additional comprehensive financial performance data or strategic details beyond the intent to evaluate transactions, a 'hold' recommendation is prudent. Investors should monitor future filings and company performance for further insights before making more aggressive investment decisions.

Keywords

Seneca Bancorp, Mark Zames, Schedule 13D, Beneficial Ownership, Common Stock, Investment, Director, Chairman, Financial Services, Banking