On July 21, 2023, Land of Lincoln Credit Union, Decatur, Illinois, completed its acquisition of Colchester State Bank, Colchester, Illinois. All Colchester State Bank’s branches will operate as branch offices of Land of Lincoln Credit Union, increasing Land of Lincoln Credit Union’s total branches to 14 and total assets to approximately $450 million following the… Read more »
Posts By: tames
Luse Gorman is Legal Counsel to Oconee Federal Savings and Loan Association in its Proposed Merger with Mutual Savings Bank
On July 19, 2023, Oconee Federal Savings and Loan Association (“Oconee Federal”), Seneca, South Carolina, entered into a merger agreement with Mutual Savings Bank, Hartsville, South Carolina. Pursuant to the merger agreement, Mutual Savings Bank will merge with and into Oconee Federal. At the closing of the merger, Oconee Federal’s holding company, Oconee Federal Financial… Read more »
Luse Gorman is the Top Legal Advisor for Bank Mergers in First Half of 2023
Luse Gorman, PC is pleased to announce that we were the No. 1 legal advisor in the nation for bank mergers in the first half of 2023, based on both the number of transactions and deal value, as reported by S&P Global Market Intelligence. The firm’s merger transactions also included representing the buyer in the… Read more »
Luse Gorman is Legal Counsel to Piedmont Federal Savings Bank in its Proposed Merger with Wake Forest Bancshares, Inc.
On June 27, 2023, Piedmont Federal Savings Bank, Winston-Salem, North Carolina, entered into a merger agreement with Wake Forest Bancshares, Inc., Wake Forest, North Carolina. Pursuant to the merger agreement, Wake Forest Bancshares, Inc. will merge with and into Piedmont Federal Savings Bank’s mutual holding company parent, Piedmont Financial Holding Company, in an all-cash remutualization… Read more »
Luse Gorman Served as Legal Counsel to HV Bancorp, Inc. in its Merger with Citizens Financial Services, Inc.
On June 16, 2023, HV Bancorp, Inc., Doylestown, Pennsylvania, the holding company for Huntingdon Valley Bank, completed its merger with Citizens Financial Services, Inc., Mansfield, Pennsylvania, the holding company for First Citizens Community Bank. Luse Gorman served as legal counsel to HV Bancorp, Inc. in the transaction. The Luse Gorman team consisted of Benjamin Azoff, Gregory… Read more »