Alert – Vol. 13 of The Bankers’ Bulletin

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To our clients and friends: Luse Gorman’s monthly Bankers’ Bulletin publication is back in 2025, featuring a brand new design and some added content designed to help you keep up with the most important issues from across the banking industry.  We will still be sending out a new edition at the beginning of every month,… Read more »

Luse Gorman is Legal Counsel to Zeal Credit Union in its Proposed Acquisition of Gogebic Range Bank

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On December 30, 2024, Zeal Credit Union (“Zeal”), Livonia, Michigan, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Gogebic Range Bank, Ironwood, Michigan, the wholly-owned subsidiary of West End Financial Corp. Zeal has approximately $839 million in assets and operates 12… Read more »

Luse Gorman Served as Legal Counsel to Gorham Savings Bank in its Merger of Equals with Maine Community Bank

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On January 1, 2025, Gorham Savings Bank, Gorham, Maine and Maine Community Bank, Biddeford, Maine completed a merger of equals forming a mutual savings bank with nearly $3.0 billion in assets and 21 branches throughout Maine. Luse Gorman served as legal counsel to Gorham Savings Bank in the transaction. The Luse Gorman team consisted of… Read more »

Client Alert – NCUA Guidance on Overdraft & NSF Fees

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To our clients and friends: On December 10, the National Credit Union Administration issued to all federally insured credit unions Letter 24-CU-03 entitled “Consumer Harm Stemming from Certain Overdraft and Non-Sufficient Funds Fee Practices.”  The guidance describes certain fee practices that the NCUA believes are likely considered “unfair” or “deceptive” practices under federal law, exposing… Read more »

Luse Gorman is Legal Counsel to Berkshire Hills Bancorp, Inc. in its $100.0 Million Equity Offering

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On December 16, 2024, Berkshire Hills Bancorp, Inc. announced that it has entered into subscription agreements with investors to raise $100 million of capital to support its proposed merger of equals with Brookline Bancorp, Inc. Berkshire Hills Bancorp, Inc. is the parent company of Berkshire Bank, a bank located in New England and New York…. Read more »