On April 17, 2024, Johnson County Bank, Mountain City, Tennessee, announced it had signed a definitive merger agreement with Skyline Bankshares, Inc., Floyd, Virginia, pursuant to which Johnson County Bank will merge with and into Skyline National Bank in an all cash transaction valued at approximately $25.0 million. Johnson County Bank has approximately $152.0 million… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Alive Credit Union in its Completed Merger with City & Police Federal Credit Union
On April 1, 2024, Alive Credit Union, Jacksonville, Florida, successfully completed its merger with City & Police Federal Credit Union, Jacksonville, Florida. Alive Credit Union, as the continuing credit union, has approximately $282 million in assets on a combined basis following the merger. Luse Gorman served as legal counsel to Alive Credit Union in the… Read more »
Alert – The Bankers’ Bulletin Vol. 4
To our clients and friends: Today we published Volume 4 of The Bankers’ Bulletin. You can find a copy of this edition here. This volume covers recent lawsuits at the federal and state level related to the Corporate Transparency Act and interest rate caps, the FDIC’s proposed revisions to its bank merger policy, federal and… Read more »
ALERT – FDIC Bank Merger Policy Statement
To our clients and friends: On March 21, the FDIC proposed revisions to its Statement of Policy on Bank Merger Transactions, which are intended to provide guidance on how the agency reviews merger applications under the Bank Merger Act. Our Client Alert describes the most relevant aspects of the new policy statement and includes key… Read more »
Luse Gorman Served as Legal Counsel to Financial Institutions, Inc. in the Sale of its Insurance Agency Subsidiary to NFP Property & Casualty Services, Inc.
On April 1, 2024, Financial Institutions, Inc., Warsaw, New York, the holding company for Five Star Bank, completed the sale of its insurance agency subsidiary, SDN Insurance Agency, LLC, to NFP Property & Casualty Services, Inc. (“NFP”). Financial Institutions, Inc. is the bank holding company for Five Star Bank, a New York-chartered commercial bank that… Read more »