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 »
Posts By: tames
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 »
Luse Gorman is Legal Counsel to Johnson County Bank in its Proposed Merger with Skyline Bankshares, Inc.
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 »
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 »