Luse Gorman Served as Legal Counsel to Peapack-Gladstone Financial Corporation in its $100.0 Million Subordinated Debt Issuance

Posted by & filed under Industry Alerts & Publications.

On December 22, 2020, Peapack-Gladstone Financial Corporation, Bedminster, New Jersey, the holding company for Peapack-Gladstone Bank, completed a private placement of $100.0 million of its 3.50% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal counsel to Peapack-Gladstone… Read more »

ALERT – Impact of COVID-19 on Performance-Based Compensation – Key Considerations

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To our clients and friends: For many banks, the impact of COVID-19 on the financial performance has reduced or eliminated entirely the achievement of the 2020 performance-based compensation goals established before the breakout of the pandemic. As 2020 comes to an end, banks will need to evaluate the impact of COVID-19 on their performance-based compensation,… Read more »

Luse Gorman is Legal Counsel to Berkshire Bank in its Proposed Sale of Branches to Investors Bank

Posted by & filed under Transactions.

On December 2, 2020, Berkshire Bank, Boston, Massachusetts, entered into an agreement to sell its Mid-Atlantic branches, consisting of six offices in New Jersey and two in Pennsylvania, to Investors Bank, Short Hills, New Jersey, subject to customary regulatory approvals. Investors Bank, which is the wholly-owned subsidiary of Investors Bancorp, Inc., operates 155 branches located… Read more »