Gary A. Lax presented “Cannabis and Banking” on a panel at the Crowe Leadership Conference on August 20, 2019, in Miami, FL. The panel discussed marijuana-related businesses and Industrial Hemp, the status of federal and state laws, and the elements of a risk assessment and compliance program to on-board customers and provide financial products and… Read more »
Posts By: tames
Luse Gorman Serves as Legal Counsel to Country Bank Holding Company, Inc. in its Proposed Merger with OceanFirst Financial Corp.
On August 9, 2019, Country Bank Holding Company, Inc., New York, New York (“CYHC”), the holding company for Country Bank, and OceanFirst Financial Corp., Red Bank, New Jersey, the holding company for OceanFirst Bank, N.A., announced the signing of a definitive merger agreement pursuant to which CYHC will merge with and into OceanFirst Financial, with… Read more »
Luse Gorman is Legal Counsel to Sevier County Bancshares, Inc. in its $13 Million Common Stock and Rights Offering
On August 6, 2019, Sevier County Bancshares, Inc. (“Sevier County”), Sevierville, Tennessee, the holding company of Sevier County Bank, announced the completion of its $13 million common stock offering, effective August 1, 2019. The capital raise included shares issued via a securities purchase agreement with a private investor, as well as a rights offering to… Read more »
Luse Gorman is Legal Counsel to West End Bank, S.B. in its Proposed Acquisition by Three Rivers Federal Credit Union
On August 1, 2019, West End Bank, S.B., Richmond, Indiana, and Three Rivers Federal Credit Union, Fort Wayne, Indiana, announced that Three Rivers will acquire the assets and assume the liabilities of West End Bank in an all-cash transaction. Following the completion of the transaction, West End Bank will be liquidated and West End Indiana… Read more »
Luse Gorman is Legal Counsel to Pioneer Bank in its MHC Reorganization and $111.7 Million Stock Offering
On July 17, 2019, Pioneer Bank, Albany, NY, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. Concurrently with the reorganization, Pioneer Bancorp, Inc., the newly formed holding company for Pioneer Bank, completed its initial public offering. Pioneer Bancorp, Inc. sold 11.2 million shares of its common stock… Read more »