On July 25, 2022, Somerset Savings Bank, SLA, Bound Brook, New Jersey, adopted a plan of conversion to convert from the mutual to stock form of organization. Somerset Savings also entered into a merger agreement to acquire Regal Bancorp, Inc. Under the terms of the merger agreement, Regal Bancorp shareholders may elect to receive 1.93… Read more »
Posts By: tames
ALERT – Nasdaq Diversity Matrix Disclosure Deadline Approaching
To our clients and friends: The August 8, 2022 deadline for Nasdaq-listed companies to publicly disclose their board diversity statistics is fast approaching. Our refresher on Nasdaq’s requirements for the disclosure is available here.
Luse Gorman Served as Legal Counsel to Van Wert Federal Savings Bank in its Conversion and Related $19.2 Million Stock Offering
On July 13, 2022, Van Wert Federal Savings Bank, Van Wert, Ohio, completed its conversion from the mutual form of organization to the stock form of organization. Concurrently, VWF Bancorp, Inc., the newly formed holding company for Van Wert Federal, completed its initial public offering by selling 1,922,924 shares of its common stock at $10.00… Read more »
Scott A. Brown and Lawrence M. F. Spaccasi presented at FinPro, Inc. Webinar
Scott A. Brown and Lawrence M. F. Spaccasi presented “Hot Topics Affecting Community Banks” for a webinar hosted by FinPro, Inc. The webinar addressed the current regulatory environment and certain regulatory, consumer compliance, transactional, ESG and governance and disclosure matters affecting community banks.
“Glossy” Annual Report EDGAR Filing Requirement
To our clients and friends: The SEC has adopted new rules requiring the submission of “glossy” annual reports on EDGAR. The new rules go into effect six months after July 11, 2022. Our Alert regarding the new rules is available here.