On September 11, 2020, Martinsville First Savings Bank, a savings bank headquartered in Martinsville, Virginia (“Martinsville”), and First Mutual Holding Co., a mutual holding company headquartered in Lakewood, Ohio (“First Mutual”), announced the signing of a definitive merger agreement pursuant to which First Mutual will acquire Martinsville and hold it as a separate bank subsidiary…. Read more »

On September 9, 2020, Northwest Bancshares, Inc., Warren, Pennsylvania, the holding company for Northwest Bank, successfully completed a public offering of $125.0 million of its 4.00% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal counsel to Northwest… Read more »

On September 3, 2020, Bogota Savings Bank, Bogota Financial Corp. and Bogota Financial, MHC, each of Teaneck, New Jersey, entered into a merger agreement with Gibraltar Bank, Parsippany, New Jersey, pursuant to which Gibraltar Bank will merge with and into Bogota Savings Bank. The merger is expected to increase Bogota Financial Corp.’s consolidated assets from… Read more »

On August 5, 2020, Univest Financial Corporation, Souderton, Pennsylvania, the holding company for Univest Bank and Trust Co., successfully completed the public offering of $100.0 million of its 5.00% Fixed-to-Floating Rate Subordinated Notes due 2030 (the “Notes”). The Notes are intended to qualify as Tier 2 capital for regulatory purposes. Luse Gorman served as legal… Read more »

On July 31, 2020, Bristol County Savings Bank, Taunton, Massachusetts, completed its acquisition of Freedom National Bank, Greenville, Rhode Island. Bristol County Savings Bank is a full-service banking institution with approximately $2.8 billion in total assets. Bristol County Savings Bank currently operates 18 full-service branch offices in Massachusetts and Rhode Island. Luse Gorman served as… Read more »