Transactions

Luse Gorman Served as Legal Counsel to Pima Federal Credit Union in its Completed Acquisition of Republic Bank of Arizona

May 14, 2025

On May 2, 2025, Pima Federal Credit Union, Tucson, Arizona, completed its acquisition of Republic Bank of Arizona, Phoenix, Arizona, the wholly-owned subsidiary of RBAZ Bancorp, Inc. Following the completion of the acquisition, Pima Federal Credit Union has approximately $1.5 billion in assets and a network of thirteen banking locations.

Luse Gorman served as legal counsel to Pima Federal Credit Union in the transaction. The Luse Gorman team consisted of Jeff Cardone, Michael Brown, Brendan Clegg and Keeler Fina.

Luse Gorman has acted as counsel on more than 150 bank and credit union M&A transactions during the past ten years, including more than 40 transactions involving credit union acquisitions of banks, and on more bank and credit union M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.

Luse Gorman Served as Legal Counsel to Winchester Savings Bank in its MHC Reorganization and $40.0 Million Stock Offering

May 9, 2025

On April 30, 2025, Winchester Savings Bank, Winchester, Massachusetts, completed its reorganization from a mutual savings bank to the mutual holding company form of organization.

Luse Gorman is Legal Counsel to Frontier Credit Union in its Proposed Acquisition of First Citizens Bank of Butte

May 7, 2025

On May 1, 2025, Frontier Credit Union (“Frontier”), Idaho Falls, Idaho, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of First Citizens Bank of Butte (“First Citizens”), Butte, Montana.

Luse Gorman Served as Legal Counsel to Mid-Southern Savings Bank, FSB in its Completed Acquisition by Beacon Credit Union

May 6, 2025

On April 25, 2025, Mid-Southern Savings Bank, FSB, Salem, Indiana, and its parent company, Mid-Southern Bancorp, Inc., completed a purchase and assumption transaction with Beacon Credit Union (“BCU”), Wabash, Indiana, in which BCU has acquired substantially all the assets and assumed substantially all the liabilities of Mid-Southern Bank in an all-cash transaction.

Luse Gorman is Legal Counsel to First Interstate Bank in the Proposed Sale of its Arizona and Kansas Banking Offices to Enterprise Bank & Trust

April 30, 2025

On April 28, 2025, First Interstate Bank, Billings, Montana, entered into a definitive agreement to sell twelve branches – its ten Arizona branches and two Kansas branches – to Enterprise Bank & Trust, Clayton, Missouri. Under the agreement, First Interstate Bank will sell the branch facilities together with approximately $740 million in deposits and $200 million in loans.