On July 31, 2025, Assabet Valley Bancorp, the mutual holding company of Avidia Bank, completed its mutual-to-stock conversion and Avidia Bancorp, Inc., the new stock holding company of Avidia Bank, completed its initial public offering by selling 19,176,250 shares of its common stock at $10.00 per share. As part of the transaction, Avidia Bancorp also… Read more »

On July 31, 2025, Security Bank, s.b. completed its mutual-to-stock conversion and Security Midwest Bancorp, Inc., the new stock holding company of Security Bank, completed its related initial public offering by selling 889,781 shares of its common stock at $10.00 per share. Security Midwest Bancorp’s common stock is quoted on the OTCQB Market under the… Read more »

On July 23, 2025, Cornerstone Bank, Spencer, Massachusetts, a subsidiary of PeoplesBancorp, MHC, Holyoke, Massachusetts, entered into a merger agreement pursuant to which Athol Savings Bank, Athol, Massachusetts, will merge into Cornerstone Bank, with Cornerstone Bank as the surviving entity. Luse Gorman served as legal counsel to Cornerstone Bank in the transaction. The Luse Gorman… Read more »

On July 23, 2025, ESSA Bancorp, Inc., Stroudsburg, Pennsylvania, the holding company for ESSA Bank & Trust, completed its merger with CNB Financial Corporation, Clearfield, Pennsylvania, the holding company for CNB Bank. Luse Gorman served as legal counsel to ESSA Bancorp, Inc. in the transaction. The Luse Gorman team consisted of John Gorman, Marc Levy,… Read more »

On July 21, 2025, San Francisco Federal Credit Union (“SFFCU”), San Francisco, California, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Summit Bank (“Summit”), Oakland, California. SFFCU has approximately $1.33 billion in assets and operates nine branches across San Francisco and… Read more »