Luse Gorman is Legal Counsel to Pima Federal Credit Union in its Proposed Acquisition of Republic Bank of Arizona

Posted by & filed under Transactions.

On May 16, 2024, Pima Federal Credit Union, Tucson, Arizona, entered into a definitive agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Republic Bank of Arizona, Phoenix, Arizona, the wholly owned subsidiary of RBAZ Bancorp, Inc. Under the agreement, RBAZ Bancorp, Inc. shareholders will receive approximately $22.00… Read more »

Luse Gorman Served as Legal Counsel to Provident Financial Services, Inc. in its $225.0 Million Subordinated Debt Issuance

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On May 13, 2024, Provident Financial Services, Inc., Iselin, New Jersey, the holding company for Provident Bank, completed a public offering of $225.0 million of its 9.00% Fixed-to-Floating Rate Subordinated Notes due 2034.  This was the first completed Kroll-rated public offering of subordinated notes for a bank holding company since 2022. Luse Gorman served as legal counsel… Read more »

Luse Gorman is Legal Counsel to LINKBANK in the Proposed Sale of its New Jersey Operations to American Heritage Federal Credit Union

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On May 9, 2024, LINKBANK, Camp Hill, Pennsylvania, entered into a definitive agreement to sell its three New Jersey branches to American Heritage Federal Credit Union. Under the agreement, LINKBANK will sell approximately $105 million in deposits and $123 million in loans. The deposit premium is 7%. LINKBANK, the wholly-owned subsidiary of LINKBANCORP, Inc., operates… Read more »

Alert – Volume 5 of The Bankers’ Bulletin

Posted by & filed under Industry Alerts & Publications.

To our clients and friends: Today we published Volume 5 of The Bankers’ Bulletin.  You can find a copy of this edition here. This volume covers federal policymakers’ comments on bank merger policy reform, CFPB supervisory actions and federal litigation involving fee practices, the FTC’s final rule on non-compete agreements, FRB enforcement focus on change… Read more »