To our clients and friends: On June 30, 2026, the Federal Deposit Insurance Corporation (the “FDIC”) issued a notice of proposed rulemaking that would permit insured depository institutions that are state non-member banks to disclose confidential supervisory information with potential merger or acquisition partners without first obtaining FDIC authorization. Our Legal Update on this proposal… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Rhinebeck Bancorp, Inc. in its Conversion and $88.8 Million Stock Offering
On July 21, 2026, Rhinebeck Bancorp, Inc., Poughkeepsie, New York, the holding company for Rhinebeck Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering. A total of 8,880,210 shares of common stock were sold in the offering at a price of $10.00… Read more »
Luse Gorman Served as Legal Counsel to Northfield Bancorp, Inc. in its Merger with Columbia Financial, Inc.
On July 20, 2026, Northfield Bancorp, Inc., Woodbridge, New Jersey, the holding company for Northfield Bank, completed its merger with and into Columbia Financial, Inc., Fair Lawn, New Jersey, the holding company for Columbia Bank. The aggregate merger consideration of $580 million consisted of 70% stock and 30% cash. The merger was part of the… Read more »
Luse Gorman is Serving as Legal Counsel to Gesa Credit Union in its Proposed Acquisition of Willamette Valley Bank
On July 21, 2026, Gesa Credit Union, Richland, Washington, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Willamette Valley Bank, Salem, Oregon, the wholly-owned subsidiary of Oregon Bancorp, Inc. Gesa Credit Union has total assets of $6.72 billion and serves nearly… Read more »
Luse Gorman Served as Legal Counsel to San Francisco Federal Credit Union in its Acquisition of Summit Bank
On July 1, 2026, San Francisco Federal Credit Union (“SFFCU”), San Francisco, California, completed its purchase of substantially all the assets and assumption of substantially all the liabilities of Summit Bank, Oakland, California, the wholly-owned subsidiary of Summit Bancshares, Inc. Following the completion of the transaction, SFFCU has approximately $1.9 billion in assets and 10… Read more »