On September 16, 2022, Citizens Bank of Cape Vincent, a New York commercial bank, completed its merger with Gouverneur Savings and Loan Association, a New York savings and loan association, which is a wholly owned subsidiary of Gouverneur Bancorp. Inc., a federally chartered holding company, whose parent company is Cambray Mutual Holding Company, a federally… Read more »
Posts By: tames
Scott A. Brown and Lawrence M. F. Spaccasi presented at the Massachusetts Bankers Association 2022 Annual Compensation Conference
Scott A. Brown and Lawrence M. F. Spaccasi presented “The Role of Compensation in M&A Transactions” at the Massachusetts Bankers Association 2022 Annual Compensation Conference in Framingham, Massachusetts. Noting how compensation and employee benefit-related matters can impact pricing, deal timing and employee retention, this session focused on how compensation matters affect transactions and what should be done in… Read more »
Newsletter – Adjustable Interest Rate (LIBOR) Act
To our clients and friends: The Board of Governors of the Federal Reserve System has proposed regulations to implement the Adjustable Interest Rate Act (the “LIBOR Act”). The LIBOR Act and the Federal Reserve’s proposed implementing regulations are intended to address the discontinuation of the USD LIBOR benchmarks on June 30, 2023, by establishing a… Read more »
Luse Gorman Served as Legal Counsel to LINKBANCORP, Inc. in its $34.3 Million Initial Public Offering
On September 16, 2022, LINKBANCORP, Inc., the holding company of The Gratz Bank, including its LINKBANK division, closed its initial public offering of common stock. LINKBANCORP sold 4,575,000 shares of its common stock at a public offering price of $7.50 per share. This is the second firm commitment Bank IPO completed this year. Luse Gorman… Read more »
ALERT – SEC Adopts Pay Versus Performance Disclosure Rules
To our clients and friends: The Securities and Exchange Commission recently adopted regulations that will require extensive disclosure comparing executive compensation to financial performance. The new regulations are effective for the upcoming 2023 annual meeting season. Our Alert regarding the new provision is available here.