Zac Davis presented at the Connecticut Bankers Association’s 2022 Legislative Update on June 14, 2022. The presentation titled “Adjustable Interest Rate (LIBOR) Act and its Preemption of State LIBOR Transition Legislation” focused on the provisions of the federal Adjustable Interest Rate (LIBOR) Act passed into law on March 15, 2022, including the various options for… Read more »
Posts By: tames
Tom Hutton presented at the 132nd Annual Meeting of the Tennessee Bankers Association
On June 13, 2022, Tom Hutton presented, together with a professional from NFP Executive Benefits, at the 132nd Annual Meeting of the Tennessee Bankers Association. The presentation reviewed common elements of an effective executive compensation program and focused on using employment agreements, change in control agreements, deferred compensation arrangements, and life insurance arrangements to attract and… Read more »
Luse Gorman is Legal Counsel to NuMark Credit Union in its Proposed Acquisition of Pioneer State Bank
On June 1, 2022, NuMark Credit Union, Joliet, Illinois, announced that it had entered into a purchase and assumption agreement to acquire substantially all of the assets and assume substantially all of the liabilities of Pioneer State Bank, Earlville, Illinois. NuMark Credit Union has approximately $624 million in assets and currently has nine Chicagoland branch… Read more »
Luse Gorman is Legal Counsel to PCSB Financial Corporation in its Proposed Merger with Brookline Bancorp, Inc.
On May 24, 2022, PCSB Financial Corporation, Yorktown Heights, New York, announced the signing of a merger agreement with Brookline Bancorp, Inc., Boston, Massachusetts, pursuant to which PCSB Financial Corporation will merge with and into Brookline Bancorp in a stock and cash transaction valued at approximately $313.0 million. Following the transaction, PCSB Bank will operate… Read more »
Luse Gorman Served as Legal Counsel to East Idaho Credit Union in its $10.0 Million Subordinated Debt Issuance
On May 9, 2022, East Idaho Credit Union, Idaho Falls, Idaho, successfully completed a private placement of $10.0 million of its 5.00% fixed-to-floating rate subordinated notes due May 15, 2032. The subordinated notes are considered regulatory capital in the calculation of East Idaho Credit Union’s net worth ratio and risk-based capital ratio. Luse Gorman served… Read more »