On May 1, 2022, CORE Federal Credit Union, East Syracuse, New York, successfully completed its merger with CFCU Community Credit Union, Ithica, New York. On a combined basis, CFCU Community Credit Union now has approximately $1.48 billion in assets. Luse Gorman served as legal counsel to CORE Federal Credit Union in the transaction. The Luse… Read more »

On April 20, 2022, PennCrest BANK®, Altoona, Pennsylvania, entered into an agreement pursuant to which it will acquire Mid Penn Bank’s financial center located in Williamsburg, Pennsylvania. PennCrest is expected to acquire approximately $25.4 million of deposits and other liabilities and approximately $2.7 million of loans. PennCrest is a Pennsylvania-chartered mutual savings bank based in… Read more »

On April 8, 2022, LINKBANCORP, Inc., Camp Hill, Pennsylvania, the holding company for The Gratz Bank, completed a private placement of $20.0 million of its 4.50% Fixed-to-Floating Rate Subordinated Notes due 2032. Luse Gorman served as legal counsel to LINKBANCORP, Inc. in the offering. The Luse Gorman team consisted of Benjamin Azoff and Ellie Cook. Luse Gorman… Read more »

On April 6, 2022, Investors Bancorp, Inc., Short Hills, New Jersey, completed its merger into Citizens Financial Group, Inc., Providence, Rhode Island. The stock and cash transaction was valued at approximately $3.4 billion and the consolidated assets of the combined company are valued at approximately $216.0 billion. Luse Gorman served as legal counsel to Investors… Read more »

On April 1, 2022, Needham Bank, Needham, Massachusetts, completed its acquisition of cannabis banking and money service businesses from Eastern Bank, Boston, Massachusetts.  As a part of the transaction, Needham Bank assumed approximately $300 million of deposits, and will sublet space in Eastern Bank’s Medford branch. Needham Bank, the wholly owned subsidiary of NB Financial, Inc. and… Read more »