On February 28, 2021, Bogota Savings Bank, Teaneck, New Jersey, completed its merger with Gibraltar Bank, Parsippany, New Jersey. As part of the merger, Bogota Financial Corp., the holding company for Bogota Savings Bank, issued 1,267,916 shares of its common stock to Bogota Financial, MHC, Bogota Financial Corp.’s mutual holding company parent, equal to the… Read more »

On October 31, 2020, BV Financial, Inc., Baltimore, Maryland, the holding company for BayVanguard Bank, completed its acquisition of Delmarva Bancshares, Inc., Cambridge, Maryland, and its wholly owned subsidiary, 1880 Bank. Delmarva Bancshares shareholders received $8.90 in cash per share of Delmarva Bancshares common and preferred stock. BayVanguard Bank has approximately $800 million in total… Read more »

On October 28, 2020, ES Bancshares, Inc., Newburgh, New York, the holding company for Empire State Bank, completed a private placement of $14.0 million of its 6.00% 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 ES Bancshares,… Read more »

On October 27, 2020, Edgewater Bancorp, Inc. (“Edgewater”), St. Joseph, Michigan, the holding company for Edgewater Bank, and United Federal Credit Union (“United”), St. Joseph, Michigan, announced that they had signed a definitive purchase and assumption agreement, pursuant to which United will acquire the assets and assume the liabilities of Edgewater Bank in an all… Read more »