On April 29, 2024, Territorial Bancorp Inc., Honolulu, Hawaii, announced the signing of a merger agreement with Hope Bancorp, Inc., Los Angeles, California, pursuant to which Territorial Bancorp will merge with and into Hope Bancorp in an all-stock transaction valued at approximately $79 million. Territorial Bancorp is the holding company for Territorial Savings Bank and… Read more »
Posts By: tames
Lawrence M.F. Spaccasi and Scott A. Brown presented at the Massachusetts Bankers Association 2024 Annual Convention
On May 4, 2024, Lawrence M.F. Spaccasi and Scott A. Brown presented “Hot Topics for Community Banks” at the Massachusetts Bankers Association 2024 Annual Convention in Key Biscayne, Florida. The session focused on certain current matters impacting community banks, including a summary of the litigation case analyzing the constitutionality of the CFPB, the current mergers and acquisitions landscape,… Read more »
Lawrence M.F. Spaccasi presented at the New Jersey Bankers Association 2024 Annual Convention
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 »
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 »