June 24, 2016

On June 24, 2016, Lincoln Park Bancorp, Lincoln Park, NJ completed a private issuance of a $5 million, fixed-rate subordinated term note to a qualified institutional investor.  The note is intended to qualify as Tier 2 capital under the Federal Reserve Board’s regulatory capital guidelines.  The note matures on July 1, 2026, unless prepaid earlier.

Luse Gorman served as legal counsel to Lincoln Park Bancorp in the transaction.  The Luse Gorman team was led by Eric Luse (Corporate/Securities) and Victor Cangelosi (Corporate/Securities).

Lincoln Park Bancorp, with approximately $257.9 million in total assets, is the holding company for Lincoln 1st Bank, which operates two banking offices in Lincoln Park and Montville, New Jersey.