On October 14, 2020, Pathfinder Bancorp, Inc., Oswego, New York, the holding company for Pathfinder Bank, successfully completed a private placement of $25.0 million of its 5.50% Fixed-to-Floating Rate Subordinated Notes due 2030. The notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal counsel to Pathfinder Bancorp,… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Riverview Financial Corporation in its $25.0 Million Subordinated Debt Issuance
On October 6, 2020, Riverview Financial Corporation, Harrisburg, Pennsylvania, the holding company for Riverview Bank, successfully completed a private placement of $25.0 million of its 5.75% Fixed-to-Floating Rate Subordinated Notes due 2030. The notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal counsel to Riverview Financial Corporation… Read more »
Luse Gorman Served as Legal Counsel to UFS Bancorp in its $10.0 Million Senior Debt Issuance
On September 30, 2020, UFS Bancorp, Whitinsville, Massachusetts, the mutual holding company for UniBank for Savings, successfully completed a private placement of $10.0 million of its 4.5% fixed rate, non-callable, senior notes maturing in September 2025. Luse Gorman served as legal counsel to UFS Bancorp in the offering. The Luse Gorman team consisted of Lawrence… Read more »
Luse Gorman is Legal Counsel to Dollar Mutual Bancorp in Its Proposed Merger with Standard AVB Financial Corp.
On September 24, 2020, Dollar Mutual Bancorp, Pittsburgh, Pennsylvania, the mutual holding company for Dollar Bank, Federal Savings Bank, and Standard AVB Financial Corp., Monroeville, Pennsylvania, the holding company for Standard Bank, PaSB, entered into a definitive merger agreement, pursuant to which Dollar Mutual Bancorp will acquire Standard AVB Financial Corp., with Dollar Mutual Bancorp… Read more »
SEC Updates Guide 3 Statistical Disclosure Requirements
The Securities and Exchange Commission recently adopted new rules to update its statistical disclosure requirements for banking registrants, including domestic and foreign bank holding companies, banks, savings and loan holding companies, and savings and loan associations. The rules are contained in a new Item 1400 of Regulation S-K and will replace Industry Guide 3, Statistical… Read more »