Transactions

Luse Gorman Served as Legal Counsel to Financial Institutions, Inc. in its $80.0 Million Subordinated Debt Issuance

December 15, 2025

On December 11, 2025, Financial Institutions, Inc. (the “Company”), Warsaw, New York, the holding company for Five Star Bank, completed a private issuance of $80.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2035. The Company entered into a registration rights agreement with each of the purchasers of the Notes under which it will exchange the Notes for similar notes that are registered under the Securities Act of 1933.

As of September 30, 2025, Financial Institutions, Inc. had $6.3 billion in assets, 50 locations throughout Western New York and one location in the Mid-Atlantic region.

Luse Gorman served as legal counsel to Financial Institutions, Inc. The Luse Gorman team consisted of Ben Azoff, Jeff Cardone, Ellie Cook and Anahita Mohtasham- Gharagozloo.

Luse Gorman has extensive experience representing issuers in public offerings and private placements of capital stock, debt, and other securities. Click here to learn more about our capital markets and corporate finance services.

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

November 26, 2025

On November 21, 2025, OneAZ Credit Union ("OneAZ"), Phoenix, Arizona, completed its purchase of substantially all assets and the assumption of substantially all liabilities of 1st Bank Yuma, Yuma, Arizona, the wholly-owned subsidiary of Western Arizona Bancorp, Inc. Following the completion of the transaction, OneAZ has approximately $4.2 billion in assets and 26 banking locations across Arizona.

Luse Gorman is Legal Counsel to Blue Foundry Bancorp in its Proposed Merger with Fulton Financial Corporation

November 25, 2025

On November 24, 2025, Blue Foundry Bancorp, Rutherford, New Jersey, and Fulton Financial Corporation, Lancaster, Pennsylvania, announced the execution of a merger agreement pursuant to which Blue Foundry will merge with and into Fulton Financial in an all-stock transaction valued at approximately $243 million.

Luse Gorman is Serving as Legal Counsel to GECU Federal Credit Union in its Proposed Acquisition of Bank of the Southwest

November 19, 2025

On November 17, 2025, GECU Federal Credit Union (“GECU”), El Paso, Texas, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Bank of the Southwest, Roswell, New Mexico, the wholly-owned subsidiary of New Mexico National Financial Incorporated.

Luse Gorman Served as Legal Counsel to Univest Financial Corporation in its $50 Million Subordinated Debt Issuance

November 12, 2025

On November 6, 2025, Univest Financial Corporation, Souderton, Pennsylvania, the holding company for Univest Bank and Trust Co., completed a private issuance of $50.0 million of 6.00% Fixed-to-Floating Rate Subordinated Notes due 2035, with registration rights. The Company entered into a registration rights agreement with each of the purchasers of the Notes under which it will exchange the Notes for similar notes that are registered under the Securities Act of 1933.