On January 5, 2026, Zeal Credit Union, Livonia, Michigan, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of The Miners State Bank, Iron River, Michigan, the wholly-owned subsidiary of MSB Bankshares, Inc. Zeal Credit Union has approximately $1.0 billion in assets and… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Zeal Credit Union in its Acquisition of Gogebic Range Bank
On January 1, 2026, Zeal Credit Union, Livonia, Michigan, completed its purchase of substantially all assets and the assumption of substantially all liabilities of Gogebic Range Bank, Ironwood, Michigan, the wholly-owned subsidiary of West End Financial Corp. Following the completion of the transaction, Zeal Credit Union had over $1.0 billion in assets and 17 branch… Read more »
Luse Gorman is Legal Counsel to Community Bank, N.A. in its Proposed Acquisition of ClearPoint Federal Bank & Trust
On January 14, 2026, Community Bank, N.A. (“Community Bank”), a subsidiary of Community Financial System, Inc., entered into an agreement to acquire ClearPoint Federal Bank & Trust (“ClearPoint”) in an all-cash transaction valued at $40 million, subject to a potential purchase price adjustment. Community Financial System, Inc. is a diversified financial services company focused on… Read more »
Alert – Volume 25 of The Bankers’ Bulletin
Today we published Volume 25 of The Bankers’ Bulletin, which provides our insights into key banking industry developments from December 2025, including: The OCC’s preliminary findings on debanking; The FRB’s only supervision and regulation report of the year; A proposed CRA strategic plan process from the OCC; The FDIC’s proposed rule for issuing stablecoins; Moves… Read more »
Reporting Obligations for Incentive Stock Option Exercises and Employee Stock Purchase Plan Purchases in 2025
To Our Clients and Friends: Banks that allow employees to purchase employer stock through incentive stock options (“ISOs”) or an employee stock purchase plan (“ESPP”) should be aware of the upcoming February 2, 2026 deadline for employers to deliver a completed Form 3921 or 3922 to employees, setting forth the details of the employee’s 2025… Read more »