On May 26, 2025, it was announced that Community Bancshares, Inc., the bank holding company for Mission Bank, Kingman, Arizona, had entered into a definitive agreement with Avenir Financial Federal Credit Union (“Avenir”), Yuma, Arizona, pursuant to which Avenir will acquire substantially all the assets and assume substantially all the liabilities of Mission Bank. Following… Read more »
Posts By: tames
Luse Gorman is Legal Counsel to CFSB Bancorp, Inc. in its Proposed Acquisition by Hometown Financial Group, Inc.
On May 20, 2025, CFSB Bancorp, Inc., Quincy, Massachusetts, entered into a definitive merger agreement with Hometown Financial Group, Inc., Easthampton, Massachusetts, under which Hometown Financial Group will acquire CFSB Bancorp. CFSB Bancorp stockholders will receive $14.25 in cash per share of CFSB Bancorp common stock for total merger consideration of approximately $44 million. As… Read more »
Luse Gorman Served as Legal Counsel to Pima Federal Credit Union in its Completed Acquisition of Republic Bank of Arizona
On May 2, 2025, Pima Federal Credit Union, Tucson, Arizona, completed its acquisition of Republic Bank of Arizona, Phoenix, Arizona, the wholly-owned subsidiary of RBAZ Bancorp, Inc. Following the completion of the acquisition, Pima Federal Credit Union has approximately $1.5 billion in assets and a network of thirteen banking locations. Luse Gorman served as legal… Read more »
Alert – OCC Adopts Interim Final Rule on Bank M&A
To our clients and friends: On May 8, 2025, the Office of the Comptroller of the Currency (the “OCC”) adopted an Interim Final Rule amending its 2024 final rule related to its regulations for business combinations involving national banks and federal savings banks. Our Alert regarding the OCC’s Interim Final Rule on Bank M&A is… Read more »
Luse Gorman Served as Legal Counsel to Winchester Savings Bank in its MHC Reorganization and $40.0 Million Stock Offering
On April 30, 2025, Winchester Savings Bank, Winchester, Massachusetts, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. Concurrently with the reorganization, Winchester Bancorp, Inc., the newly formed holding company for Winchester Savings Bank, sold 3,997,012 shares of common stock at $10.00 per share, issued 185,907 shares of… Read more »