The Securities and Exchange Commission recently adopted new rules to update its statistical disclosure requirements for banking registrants, including domestic and foreign bank holding companies, banks, savings and loan holding companies, and savings and loan associations. The rules are contained in a new Item 1400 of Regulation S-K and will replace Industry Guide 3, Statistical… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Orange County Bancorp, Inc. in its $20.0 Million Subordinated Debt Issuance
On September 24, 2020, Orange County Bancorp, Inc., Middletown, New York, the holding company for Orange Bank & Trust Company, successfully completed a private placement of $20.0 million of its 4.25% 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… Read more »
Luse Gorman is Legal Counsel to Heritage State Bank in its Proposed Acquisition by The First National Bank of Carmi
On September 23, 2020, Heritage State Bank, an Illinois-chartered commercial bank and wholly owned subsidiary of HBancorporation, Inc., Lawrenceville, Illinois, announced the signing of a definitive merger agreement with The First National Bank of Carmi, a national banking association and wholly owned subsidiary of Southern Illinois Bancorp, Inc., Carmi, Illinois, pursuant to which Heritage State… Read more »
Luse Gorman Served as Legal Counsel to Greene County Bancorp, Inc. in its $20.0 Million Subordinated Debt Issuance
On September 17, 2020, Greene County Bancorp, Inc., Catskill, New York, the holding company for The Bank of Greene County, successfully completed a private placement of $20.0 million of its 4.75% 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… Read more »
SEC Adopts Changes to Its Disclosure Requirements for Periodic Reports and Registration Statements
To our clients and friends: The SEC recently issued a release revising certain disclosure requirements for periodic reports and registration statements filed with the SEC. Our Alert regarding this release is available here.