On June 1, 2026, MAC Federal Credit Union, Fairbanks, Alaska, merged with and into Credit Union 1, Anchorage, Alaska. Following the merger, Credit Union 1 has more than $1.7 billion in assets and serves over 112,000 members across 19 branches. Luse Gorman served as legal counsel to Credit Union 1 in the transaction. The Luse… Read more »
Posts By: tames
Alert – Volume 30 of The Bankers’ Bulletin
Today we published Volume 30 of The Bankers’ Bulletin, which provides our insights into key banking industry developments from May 2026, including the: FRB’s revised supervisory operating principles; FFIEC’s proposed revisions to the CAMELS framework; FRB’s proposal to establish payment accounts; OCC’s semiannual risk perspective; CFPB’s final small business lending rule under 1071; and more…. Read more »
Luse Gorman Served as Legal Counsel to Community Bank, N.A.
On June 1, 2026, Community Bank, N.A. (“Community Bank”), a subsidiary of Community Financial System, Inc., completed its acquisition of ClearPoint Federal Bank & Trust in an all-cash transaction valued at $39 million, subject to a potential purchase price adjustment. Community Bank has over $17 billion in assets and operates approximately 200 customer facilities across… Read more »
Luse Gorman is Legal Counsel to Bogota Savings Bank in its Proposed Merger with GSL Savings Bank
On June 1, 2026, Bogota Savings Bank, Bogota Financial Corp. and Bogota Financial, MHC, each of Teaneck, New Jersey, entered into a merger agreement with GSL Savings Bank, Guttenberg, New Jersey, pursuant to which GSL Savings Bank will merge with and into Bogota Savings Bank. The merger is expected to increase Bogota Financial Corp.’s consolidated… Read more »
Legal Update – SEC Proposes New Rule to Revise Form S-3 Eligibility Criteria
To our clients and friends: On May 19, 2026, the SEC proposed a new rule and form amendments aimed at enhancing public companies’ ability to conduct registered offerings. The proposed amendments would enable more public companies to conduct shelf offerings through a Registration Statement on Form S-3, extend well-known seasoned issuer benefits to a broader… Read more »