Transactions

Luse Gorman is Legal Counsel to Territorial Bancorp Inc. in its Proposed Merger with Hope Bancorp, Inc.

May 6, 2024

On April 29, 2024, Territorial Bancorp Inc., Honolulu, Hawaii, announced the signing of a merger agreement with Hope Bancorp, Inc., Los Angeles, California, pursuant to which Territorial Bancorp will merge with and into Hope Bancorp in an all-stock transaction valued at approximately $79 million.

Luse Gorman is Legal Counsel to TDECU in its Proposed Acquisition of Sabine State Bank and Trust

May 1, 2024

On April 30, 2024, Texas Dow Employees Credit Union ("TDECU"), Houston, Texas, announced that it had entered into a definitive agreement to acquire Sabine State Bank and Trust ("Sabine"), Many, Louisiana, the wholly-owned subsidiary of Sabine Bancshares, Inc.

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

April 19, 2024

On April 17, 2024, Arlo Financial Holdings, Inc., a Missouri corporation formed by an investor group of experienced bankers, and Systematic Savings Bank, Springfield, Missouri, announced their definitive agreement for Arlo Financial to acquire Systematic Savings Bank in an all-cash transaction valued at approximately $14.0 million.

In connection with the transaction, Arlo Financial will become the bank holding company for Systematic Savings Bank.

Luse Gorman is serving as legal counsel to Arlo Financial in the transaction. The Luse Gorman team consists of Steven Lanter, Ben Azoff, Gregory Sobczak and Brendan Saxon.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank 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 is Legal Counsel to Johnson County Bank in its Proposed Merger with Skyline Bankshares, Inc.

April 18, 2024

On April 17, 2024, Johnson County Bank, Mountain City, Tennessee, announced it had signed a definitive merger agreement with Skyline Bankshares, Inc., Floyd, Virginia, pursuant to which Johnson County Bank will merge with and into Skyline National Bank in an all cash transaction valued at approximately $25.0 million.

Luse Gorman Served as Legal Counsel to Alive Credit Union in its Completed Merger with City & Police Federal Credit Union

April 17, 2024

On April 1, 2024, Alive Credit Union, Jacksonville, Florida, successfully completed its merger with City & Police Federal Credit Union, Jacksonville, Florida. Alive Credit Union, as the continuing credit union, has approximately $282 million in assets on a combined basis following the merger.