On May 13, 2024, NVE Bancorp, MHC, Englewood, New Jersey, announced the signing of a definitive merger agreement with Ion Financial, MHC, Naugatuck, Connecticut, pursuant to which NVE Bancorp, MHC and NVE Bancorp, Inc. each will merge into Ion Financial, MHC and NVE Bank, the subsidiary of NVE Bancorp, will merge into Ion Bank, the… Read more »

On May 15, 2024, Harborstone Credit Union, Lakewood, Washington, completed its acquisition of First Sound Bank, Seattle, Washington. Luse Gorman served as legal counsel to Harborstone Credit Union in the transaction. The Luse Gorman team consisted of Jeffrey Cardone, Michael Brown, Zachary A. Davis, Babette Schwartz, and Keeler Fina. Luse Gorman has acted as counsel… Read more »

On May 15, 2024, Lakeland Bancorp, Inc., Oak Ridge, New Jersey, the holding company for Lakeland Bank, completed its merger with Provident Financial Services, Inc., Iselin, New Jersey, the holding company for Provident Bank. Following the merger, Provident Financial has more than $24.5 billion in total assets, $18.8 billion in total loans and $18.6 billion… Read more »

On May 16, 2024, Pima Federal Credit Union, Tucson, Arizona, entered into a definitive agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Republic Bank of Arizona, Phoenix, Arizona, the wholly owned subsidiary of RBAZ Bancorp, Inc. Under the agreement, RBAZ Bancorp, Inc. shareholders will receive approximately $22.00… Read more »

On May 13, 2024, Provident Financial Services, Inc., Iselin, New Jersey, the holding company for Provident Bank, completed a public offering of $225.0 million of its 9.00% Fixed-to-Floating Rate Subordinated Notes due 2034.  This was the first completed Kroll-rated public offering of subordinated notes for a bank holding company since 2022. Luse Gorman served as legal counsel… Read more »