On May 2, 2024, Lawrence M.F. Spaccasi presented “The Future of Mutual Bank Ownership Structure” at the New Jersey Bankers Association 2024 Annual Convention in Naples, Florida. The session focused on certain current matters impacting banking institutions in the mutual form, including potential developments regarding capital instruments issuable by mutual banks and mutual holding companies and developments in… Read more »
Posts By: tames
FTC Bans Most Non-Compete Agreements – What Financial Institutions Need to Know
To our clients and friends: On April 23, 2024, the Federal Trade Commission issued a final rule that bans most non-competition agreements. Our Alert, which covers what financial institutions need to know about the final rule, is available here.
Luse Gorman is Legal Counsel to TDECU in its Proposed Acquisition of Sabine State Bank and Trust
On April 30, 2024, Texas Dow Employees Credit Union (“TDECU”), Houston, Texas, announced that it had entered into a definitive agreement to acquire Sabine State Bank and Trust (“Sabine”), Many, Louisiana, the wholly-owned subsidiary of Sabine Bancshares, Inc. Upon closing, TDECU will have approximately $6.0 billion in assets and 471,000 members. Sabine has approximately $1.2… Read more »
Luse Gorman is Legal Counsel to Arlo Financial Holdings, Inc. in its Proposed Acquisition of Systematic Savings Bank
On April 17, 2024, Arlo Financial Holdings, Inc., a Missouri corporation formed by an investor group of experienced bankers, and Systematic Savings Bank, Springfield, Missouri, announced their definitive agreement for Arlo Financial to acquire Systematic Savings Bank in an all-cash transaction valued at approximately $14.0 million. In connection with the transaction, Arlo Financial will become… Read more »
ARTICLE – Dear Credit Unions: Careful Planning is Essential to Successfully Executing a Merger with Another Credit Union
To our clients and friends: Jeff Cardone, Partner at Luse Gorman, recently authored an article for CEO Advisory Group titled “Dear Credit Unions: In this Challenging Environment, Careful Planning is Essential to Successfully Executing a Merger with Another Credit Union.” The article discusses keys to a successful credit union merger, including being united on key… Read more »