On November 29, 2023, Eagle Financial Bancorp, Inc., Cincinnati, Ohio, announced the signing of a merger agreement with LCNB Corp., Lebanon, Ohio, pursuant to which Eagle Financial Bancorp will merge with and into LCNB Corp. in a stock-and-cash transaction valued at approximately $23.1 million. As part of the transaction, EAGLE.bank will merge with and into… Read more »
Posts By: tames
Scott A. Brown presented at the New Hampshire/Vermont Bankers Association 2023 Fall Compliance Workshop
On November 15, 2023, Scott A. Brown presented at the New Hampshire/Vermont Bankers Association 2023 Fall Compliance Workshop in Concord, New Hampshire. The session focused on certain current federal matters impacting community banks, including a summary of the Supreme Court case analyzing the constitutionality of the CFPB, the current mergers and acquisitions landscape, including a discussion of… Read more »
Luse Gorman Served as Legal Counsel to Idaho Central Credit Union in its $80.0 Million Subordinated Debt Issuance
On November 7, 2023, Idaho Central Credit Union successfully completed a private placement of $80.0 million of subordinated notes in one of the largest single issuances of subordinated debt by a credit union. The subordinated notes are intended to qualify as subordinated debt under NCUA rules and are considered regulatory capital in the calculation of… Read more »
ALERT – Federal Banking Agencies Issue Final Rule Revising Community Reinvestment Act Regulations
To our clients and friends: On October 24, 2023, the federal bank regulatory agencies jointly issued a final rule to strengthen and modernize the regulations implementing the Community Reinvestment Act. The rule continues to tailor performance standards to account for differences in bank size and business models, and most significantly affects “large banks” with $2… Read more »
Luse Gorman is Legal Counsel to A.E.A. Federal Credit Union in its Proposed Acquisition of West Valley National Bank
On November 1, 2023, A.E.A. Federal Credit Union, Yuma, Arizona, announced that it had entered into a purchase and assumption agreement with West Valley National Bank, Goodyear, Arizona and its parent holding company, West Valley Bancorp, Inc. Pursuant to the agreement, A.E.A. Federal Credit Union will purchase substantially all assets and assume substantially all liabilities… Read more »