Luse Gorman Served as Legal Counsel to Arlo Financial Holdings, Inc. in its Acquisition of Systematic Savings Bank

Posted by & filed under Transactions.

On October 1, 2024, Arlo Financial Holdings, Inc., a newly formed Missouri corporation, completed its merger with Systematic Savings Bank, thereby becoming its registered bank holding company and changing the name of the bank to Arlo Bank. The Luse Gorman team consisted of Steven Lanter, Ben Azoff and Brendan Saxon. Luse Gorman has acted as counsel… Read more »

Luse Gorman is Legal Counsel to Rollstone Bancorp, MHC in its Proposed Merger with River Run Bancorp, MHC

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On September 30, 2024, River Run Bancorp, MHC, Newburyport, Massachusetts, announced the signing of a definitive merger agreement with Rollstone Bancorp, MHC, Fitchburg, Massachusetts, pursuant to which Rollstone Bancorp, MHC, the mutual holding company of Rollstone Bank & Trust, Fitchburg, Massachusetts, will merge with and into River Run Bancorp, MHC. As part of the transaction,… Read more »

Scott A. Brown presented on M&A at the Blue Rock Conference

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On October 4, 2024, Scott A. Brown presented at the Blue Rock Conference in Plymouth, Massachusetts. The session focused on the current mergers and acquisitions landscape, especially related to mutual holding company transactions, a summary of recent Supreme Court cases and its impact on community banks and the FTC’s proposed ban on non-competition agreements.  

Alert – Vol. 10 of The Bankers’ Bulletin

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To our clients and friends: Today we published Volume 10 of The Bankers’ Bulletin.  You can find a copy of this edition here. In this volume, we cover the FDIC and OCC’s final merger policy statements, the FDIC’s proposed rule on account reconciliation, CFPB guidance on overdraft record retention, FRB Vice Chair Barr’s preview of… Read more »

Luse Gorman is Legal Counsel to OneAZ Credit Union in its Proposed Acquisition of 1st Bank Yuma

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On October 3, 2024, OneAZ Credit Union (“OneAZ”), Phoenix, Arizona, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of 1st Bank Yuma, Yuma, Arizona, the wholly-owned subsidiary of Western Arizona Bancorp, Inc. OneAZ has approximately $3.3 billion in assets and 195,000 members,… Read more »