On October 23, 2024, Monroe Federal Savings and Loan Association, Tipp City, Ohio, completed its conversion from the mutual to stock form of organization. Concurrently with the conversion, Monroe Federal Bancorp, Inc. (“Monroe Federal Bancorp”), the newly formed holding company for Monroe Federal, completed its initial public offering by selling 526,438 shares of its common… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Fidelity Bank in its Conversion and Related $198.4 Million Stock Offering
On October 22, 2024, Fidelity Bank, New Orleans, Louisiana, completed its conversion from the mutual to stock form of organization. Concurrently with the conversion, FB Bancorp, Inc. (“FB Bancorp”), the newly formed holding company for Fidelity Bank, completed its initial public offering by selling 19,837,500 shares of its common stock at $10.00 per share. FB… Read more »
Luse Gorman Served as Legal Counsel to Arlo Financial Holdings, Inc. in its Acquisition of Systematic Savings Bank
On October 1, 2024, Arlo Financial Holdings, Inc., a newly formed Missouri corporation, completed its merger with Systematic Savings Bank, thereby becoming its registered bank holding company and changing the name of the bank to Arlo Bank. The Luse Gorman team consisted of Steven Lanter, Ben Azoff and Brendan Saxon. Luse Gorman has acted as counsel… Read more »
Luse Gorman is Legal Counsel to Rollstone Bancorp, MHC in its Proposed Merger with River Run Bancorp, MHC
On September 30, 2024, River Run Bancorp, MHC, Newburyport, Massachusetts, announced the signing of a definitive merger agreement with Rollstone Bancorp, MHC, Fitchburg, Massachusetts, pursuant to which Rollstone Bancorp, MHC, the mutual holding company of Rollstone Bank & Trust, Fitchburg, Massachusetts, will merge with and into River Run Bancorp, MHC. As part of the transaction,… Read more »
Scott A. Brown presented on M&A at the Blue Rock Conference
On October 4, 2024, Scott A. Brown presented at the Blue Rock Conference in Plymouth, Massachusetts. The session focused on the current mergers and acquisitions landscape, especially related to mutual holding company transactions, a summary of recent Supreme Court cases and its impact on community banks and the FTC’s proposed ban on non-competition agreements.