On July 26, 2023, Mercer Savings Bank, Celina, Ohio, completed its conversion from the mutual form of organization to the stock form of organization. Concurrently, Mercer Bancorp, Inc., the newly formed holding company for Mercer Savings Bank, completed its initial public offering by selling 972,970 shares of its common stock at $10.00 per share. Mercer… Read more »
Posts By: tames
Alert – SEC Issues Guidance on Compliance Dates for New 10b5-1 Insider Trading Plan Periodic Disclosures
To our clients and friends: The SEC recently issued guidance regarding the compliance dates for the new periodic disclosure requirements for issuers with respect to Rule 10b5-1 insider trading plans. Our Alert regarding the guidance is available here.
Luse Gorman Served as Legal Counsel to Land of Lincoln Credit Union in its Acquisition of Colchester State Bank
On July 21, 2023, Land of Lincoln Credit Union, Decatur, Illinois, completed its acquisition of Colchester State Bank, Colchester, Illinois. All Colchester State Bank’s branches will operate as branch offices of Land of Lincoln Credit Union, increasing Land of Lincoln Credit Union’s total branches to 14 and total assets to approximately $450 million following the… Read more »
Luse Gorman is Legal Counsel to Oconee Federal Savings and Loan Association in its Proposed Merger with Mutual Savings Bank
On July 19, 2023, Oconee Federal Savings and Loan Association (“Oconee Federal”), Seneca, South Carolina, entered into a merger agreement with Mutual Savings Bank, Hartsville, South Carolina. Pursuant to the merger agreement, Mutual Savings Bank will merge with and into Oconee Federal. At the closing of the merger, Oconee Federal’s holding company, Oconee Federal Financial… Read more »
Luse Gorman is the Top Legal Advisor for Bank Mergers in First Half of 2023
Luse Gorman, PC is pleased to announce that we were the No. 1 legal advisor in the nation for bank mergers in the first half of 2023, based on both the number of transactions and deal value, as reported by S&P Global Market Intelligence. The firm’s merger transactions also included representing the buyer in the… Read more »