To our clients and friends: On September 30, 2025, the federal government’s funding ran out resulting in a shutdown beginning on October 1, 2025, which will continue until Congress passes and the President signs new appropriations legislation. Some federal agencies, including the Securities and Exchange Commission, are affected while others, such as federal banking regulators,… Read more »
Posts By: tames
Alert – SEC Permits Use of Standing Proxies
To our clients and friends: On September 15, 2025, the SEC issued a no-action letter in response to Exxon Mobil Corporation’s request to implement a “retail shareholder voting program” whereby its retail shareholders would authorize the perpetual voting of their shares in favor of management’s recommendations. Our Legal Update, available here, describes the requirements for—… Read more »
Luse Gorman Served as Legal Counsel to Orange County Bancorp, Inc. in its $25.0 Million Subordinated Debt Issuance
On September 25, 2025, Orange County Bancorp, Inc., Middletown, New York, the holding company for Orange Bank & Trust Company, completed a private offering of $25.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2035. As of June 30, 2025, Orange County Bancorp had $2.6 billion in total assets and 17 full-service offices in New… Read more »
Luse Gorman Serves as Legal Counsel to First Savings Financial Group, Inc. in its Proposed Merger with First Merchants Corporation
On September 25, 2025, First Savings Financial Group, Inc. (“First Savings”), the holding company for First Savings Bank, and First Merchants Corporation (“First Merchants”), the holding company for First Merchants Bank, announced the signing of a definitive agreement pursuant to which First Savings will merge with and into First Merchants and First Savings Bank will… Read more »
Luse Gorman Served as Legal Counsel to Ballston Spa Bancorp, Inc. in its Proposed Merger of Equals with NBC Bancorp, Inc.
On September 23, 2025, Ballston Spa Bancorp, Inc. (“Ballston Spa”), the holding company for Ballston Spa National Bank, and NBC Bancorp, Inc. (“NBC”), the holding company for The National Bank of Coxsackie, entered into an agreement for a merger of equals, with Ballston Spa and Ballston Spa National Bank as the surviving entities. The all-stock… Read more »