On December 21, 2022, Land of Lincoln Credit Union, Decatur, Illinois, entered into a purchase and assumption agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Colchester State Bank, Colchester, Illinois. Land of Lincoln Credit Union has approximately $375 million in assets and currently has 13 branch offices… Read more »

On December 16, 2022, Pentucket Bank Holdings, MHC, Haverhill, Massachusetts, and Newburyport Five Cents Bancorp, MHC, Newburyport, Massachusetts, announced their agreement to form a strategic partnership through the merger of Pentucket Bank Holdings, MHC and Newburyport Five Cents Bancorp, MHC.  Newburyport Bank and Pentucket Bank, the bank subsidiaries of Newburyport Five Cents Bancorp, MHC and… Read more »

On December 14, 2022, First Bank, Hamilton, New Jersey, announced the signing of a merger agreement with Malvern Bancorp, Inc. and Malvern Bank, Paoli, Pennsylvania, pursuant to which Malvern Bancorp, Inc. and Malvern Bank will merge with and into First Bank in a transaction valued at approximately $149.5 million. First Bank has approximately $2.6 billion… Read more »

On December 12, 2022, Dort Financial Credit Union, Grand Blanc, Michigan, entered into a definitive agreement to acquire Flagler Bank, West Palm Beach, Florida. Dort Financial Credit Union serves more than 103,000 members, with assets over $1.4 billion and ten locations in Michigan. Flagler Bank has approximately $490 million in assets and currently operates four… Read more »

On November 15, 2022, Univest Financial Corporation, Souderton, Pennsylvania, the holding company for Univest Bank and Trust Co., completed the public offering of $50.0 million of 7.25% Fixed-to-Floating Rate Subordinated Notes due 2032 (the “Notes”).  The Notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal counsel to Univest Financial… Read more »