On May 31, 2025, Gesa Credit Union (“Gesa”), Richland, Washington, completed its purchase of substantially all assets and assumption of substantially all liabilities of Security State Bank, Centralia, Washington, the wholly-owned subsidiary of Security State Corporation. Following the completion of the transaction, Gesa has approximately $6.4 billion in assets and a network of 43 banking… Read more »

On June 18, 2025, First Bank, Hamilton, New Jersey, completed a private offering of $35.0 million of 7.125% Fixed-to-Floating Rate Subordinated Notes due 2035. First Bank operates 27 full-service branches in New Jersey, Pennsylvania and Palm Beach, Florida. Luse Gorman served as legal counsel to First Bank in the offering. The Luse Gorman team consisted… Read more »

On June 10, 2025, Chemung Financial Corporation, Elmira, New York, the holding company for Chemung Canal Trust Company, completed a private offering of $45.0 million of 7.75% Fixed-to-Floating Rate Subordinated Notes due 2035. Chemung Canal Trust Company operates 30 retail offices in New York and Pennsylvania. Luse Gorman served as legal counsel to Chemung Financial… Read more »

On June 5, 2025, Orange County Bancorp, Inc. closed the underwritten public offering of 1,720,430 shares of common stock at an offering price of $23.25 per share. Additionally, on June 9, 2025, the underwriters completed the sale of the overallotment option of 258,064 additional shares of common stock at the offering price of $23.25 per… Read more »

On June 5, 2025, Provident Bancorp, Inc., Amesbury, Massachusetts, announced the signing of a merger agreement with NB Bancorp, Inc., Needham, Massachusetts, pursuant to which Provident Bancorp will merge with and into NB Bancorp in a cash and stock transaction valued at approximately $211.8 million. Provident Bancorp is the holding company for BankProv and has… Read more »