On March 26, 2026, URSB Bancorp, Inc., Carteret, New Jersey, the holding company of United Roosevelt Savings Bank, completed its stock offering in connection with the conversion of United Roosevelt, MHC from a mutual holding company to a stock holding company. A total of 2,314,375 shares of common stock were sold at a price of… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Peapack-Gladstone Financial Corporation in its $30.0 Million Private Placement of Preferred Stock
On March 26, 2026, Peapack-Gladstone Financial Corporation, the holding company for Peapack Private Bank & Trust, issued 30,000 shares of newly-created 6.00% Non-Cumulative Perpetual Convertible Preferred Stock in a private placement transaction, resulting in gross proceeds of $30.0 million. Additionally, the Company has the right, in its sole discretion, to sell an additional 20,000 shares… Read more »
Alert – Volume 27 of The Bankers’ Bulletin
Today we published Volume 27 of The Bankers’ Bulletin, which provides our insights into key banking industry developments from February 2026, including: A federal court’s upholding of Illinois’ interchange fee prohibition law; The OCC’s proposal for a new bank appeals process; FinCEN’s exceptive relief from CDD Rule requirements; The FRB’s proposal to remove reputation risk… Read more »
Luse Gorman Served as Legal Counsel to IF Bancorp, Inc. in its Merger with ServBanc Holdco, Inc.
On March 12, 2026, IF Bancorp, Inc., the holding company for Iroquois Federal Savings and Loan Association, and ServBanc Holdco, Inc., the holding company for Servbank, National Association, completed their previously announced merger. IF Bancorp merged into ServBanc in an all-cash transaction valued at approximately $87.2 million. Luse Gorman served as legal counsel to IF… Read more »
Luse Gorman Served as Legal Counsel to Texans Credit Union in its Merger with Las Colinas Federal Credit Union
On February 28, 2026, Texans Credit Union, Richardson, Texas, completed its previously announced merger with Las Colinas Federal Credit Union, Irving, Texas. Following the completion of the merger, Texans Credit Union had over $2.4 billion in assets and served approximately 150,000 members across 14 branch locations. Luse Gorman served as legal counsel to Texans Credit… Read more »