On September 19, 2023, Somerset Savings Bank, SLA, Bound Brook, New Jersey, completed its conversion from the mutual to stock form of organization. Concurrently, SR Bancorp, Inc., the newly formed holding company for Somerset Savings Bank, completed its initial public offering by selling 9,055,172 shares of its common stock at $10.00 per share. SR Bancorp’s… Read more »
Posts By: tames
Scott A. Brown presented at the Connecticut Bankers Association 2023 Annual Conference
On October 7, 2023, Scott A. Brown presented a federal regulatory update at the Connecticut Bankers Association 2023 Annual Conference in White Sulphur Springs, West Virginia. The session focused on certain current federal matters impacting community banks, including a summary of the Supreme Court case analyzing the constitutionality of the CFPB, the current mergers and… Read more »
Luse Gorman is the Top Legal Advisor for Bank Mergers Through September 30, 2023
Luse Gorman, PC is pleased to announce that we were the No. 1 legal advisor in the nation for bank mergers for the nine months ended September 30, 2023, based on the number of transactions, as reported by S&P Global Market Intelligence. Luse Gorman was also the No. 1 legal advisor in the nation for… Read more »
Alert – Luse Gorman on BankDirector.com
To our clients and friends: Brendan Clegg recently authored an article in Bank Director covering the RECOUP Act’s potential expansion of the federal banking agencies’ enforcement authority against bank officers and directors. The article covers how the proposed legislation, which is working its way through the U.S. Senate, would introduce new standards into the existing… Read more »
Tom Hutton and Brendan Clegg presented at the Pennsylvania Association of Community Bankers Annual Convention
On September 23, 2023, Tom Hutton and Brendan Clegg presented, together with professionals from S.R. Snodgrass, at the annual CEO Breakfast Session at the PACB Annual Convention. Luse Gorman has been a long-time presenter at the CEO Breakfast. Mr. Hutton and Mr. Clegg led a discussion on current trends in community banking, including topics related… Read more »