On June 18, 2024, PeoplesBancorp, MHC, Holyoke, Massachusetts, and SSB Community Bancorp MHC, Spencer, Massachusetts, announced their agreement to form a strategic partnership through the merger of PeoplesBancorp, MHC and SSB Community Bancorp MHC. PeoplesBank and Cornerstone Bank, the bank subsidiaries of PeoplesBancorp, MHC and SSB Community Bancorp MHC, respectively, will remain independent entities under… Read more »
Posts By: tames
Alert – Volume 6 of The Bankers’ Bulletin
To our clients and friends: Today we published Volume 6 of The Bankers’ Bulletin. You can find a copy of this edition here. This volume covers the Supreme Court’s decision on the CFPB’s funding mechanism, Congressional developments regarding custody of crypto assets, bank agency reports on key risks and supervisory priorities, state action limiting credit… Read more »
Luse Gorman is Legal Counsel to Affinity Bancshares, Inc. in its Proposed Acquisition by Atlanta Postal Credit Union
On May 30, 2024, Affinity Bancshares, Inc. and its wholly-owned subsidiary, Affinity Bank, National Association, announced the signing of a definitive purchase and assumption agreement with Atlanta Postal Credit Union, pursuant to which Atlanta Postal Credit Union will acquire the assets and assume the liabilities of Affinity Bank in an all-cash transaction. Following the completion… Read more »
Scott A. Brown participated in Financial and Accounting Society of New England Conference
On May 30, 2024, Scott A. Brown presented and moderated a session at the Financial and Accounting Society of New England Conference in Portsmouth, New Hampshire. The session focused on the current mergers and acquisitions landscape and certain regulatory, compensation-related and governance issues.
Luse Gorman is Legal Counsel to Gesa Credit Union in its Proposed Acquisition of Security State Bank
On May 23, 2024, Gesa Credit Union (“Gesa”), Richland, Washington, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Security State Bank, Centralia, Washington, the wholly-owned subsidiary of Security State Corporation. Gesa has approximately $5.5 billion in assets and 290,000 members, and… Read more »