Luse Gorman, PC is pleased to announce that we are again the top legal advisor in the nation, based on number of transactions, for bank mergers as reported by S&P Global Market Intelligence. The firm served as counsel for 18 bank merger transactions in 2023, covering a broad spectrum of deal types and structures, both… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Needham Bank in its Conversion and Related $410.0 Million Stock Offering
On December 27, 2023, NB Financial, MHC, Needham, Massachusetts, completed its conversion from a mutual holding company to a stock holding company. Concurrently with the conversion, NB Bancorp, Inc. (the “Company”), the newly formed holding company for Needham Bank, completed its initial public offering by selling 40,997,500 shares of its common stock at $10.00 per… Read more »
Luse Gorman Served as Legal Counsel to 1831 Bancorp, MHC and 1831 Bancorp, Inc. in a Merger of Equals with South Shore Bancorp, MHC and South Shore Bancorp, Inc.
On January 1, 2024, 1831 Bancorp, MHC and 1831 Bancorp, Inc., Dedham, Massachusetts, the holding companies for Dedham Institution for Savings (“Dedham Savings”), completed its merger of equals transaction with South Shore Bancorp, MHC and South Shore Bancorp, Inc., South Weymouth, Massachusetts, the holding companies for South Shore Bank. Following the merger, Dedham Savings and… Read more »
Luse Gorman Served as Legal Counsel to Piedmont Federal Savings Bank in its Acquisition of Wake Forest Bancshares, Inc.
On January 2, 2024, Piedmont Federal Savings Bank, Winston-Salem, North Carolina, completed its acquisition of Wake Forest Bancshares, Inc., Wake Forest, North Carolina, in an all-cash “remutualization” transaction valued at approximately $14.9 million. As a remutualization transaction, the merger involved novel pricing issues regarding the acquisition of mutual holding companies with public stockholders by mutually… Read more »
Brendan Clegg appeared on the BankTalk Podcast hosted by Remedy Consulting
On December 26, 2023, Brendan Clegg appeared on the BankTalk podcast hosted by Remedy Consulting. On the episode, Brendan discussed the different types of enforcement actions, the ways that an enforcement action can develop, whether directors and officers can be subject to personal actions, common issues that trip up banks and their leadership, and other… Read more »