On October 19, 2022, HV Bancorp, Inc., Doylestown, Pennsylvania, announced the signing of a merger agreement with Citizens Financial Services, Inc., Mansfield, Pennsylvania, pursuant to which HV Bancorp will merge with and into Citizens for total merger consideration of approximately $67.4 million. HV Bancorp stockholders may elect to receive $30.50 in cash or 0.400 shares… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Barksdale Federal Credit Union in its Acquisition of HomeBank of Arkansas
On October 14, 2022, Barksdale Federal Credit Union, Bossier City, Louisiana, completed its acquisition of HomeBank of Arkansas (“HomeBank”), Greenbrier, Arkansas. All five of HomeBank’s branches in Damascus, Portland, Greenbrier, Marshall and Little Rock, Arkansas will operate as branch offices of Barksdale Federal Credit Union, increasing Barksdale Federal Credit Union’s total number of branches to… Read more »
Newsletter – Federal Reserve Issues Crypto Guidance
To our clients and friends: The Federal Reserve issued a supervisory letter requiring regulated institutions that are currently engaged in or seeking to engage in crypto-asset-related activities to provide notice to the Federal Reserve and take certain other steps. Our Alert regarding crypto-asset-related activities is available here.
Luse Gorman Served as Legal Counsel to Hometown Financial Group, Inc. in its Acquisition of Randolph Bancorp, Inc.
On October 7, 2022, Hometown Financial Group, Inc. Easthampton, Massachusetts, the multi-bank holding company for bankESB, bankHometown and Abington Bank, completed its acquisition of Randolph Bancorp, Inc., Quincy, Massachusetts. Immediately following that merger, Abington Bank, Abington, Massachusetts, acquired Envision Bank, Randolph, Massachusetts, a wholly-owned subsidiary of Randolph Bancorp. The all-cash transaction was valued at approximately… Read more »
Newsletter – Regulators Provide Guidance on Recent M&A
To our clients and friends: Federal Reserve Governor Michelle Bowman recently discussed the need to modernize methods used to analyze effects on competition in markets when evaluating mergers and acquisitions. Our Alert regarding Governor Bowman’s comments is available here.