To our clients and friends: The Board of Governors of the Federal Reserve System has adopted new rules regarding when an investor will be presumed to have, directly or indirectly, acquired control of a banking organization for purposes of the Bank Holding Company Act and the Home Owners’ Loan Act. The new rules, which clarify… Read more »
Posts By: tames
Luse Gorman Served as Legal Counsel to Dime Community Bancshares, Inc. in its $75.0 Million Public Offering of Preferred Stock
On February 5, 2020, Dime Community Bancshares, Inc. (“Dime”) completed an underwritten public offering of $75.0 million of its 5.50% Fixed-Rate Non-Cumulative Perpetual Preferred Stock, Series A, par value $0.01 per share, with a liquidation preference of $25.00 per share. Dime raised approximately $72.2 million in the offering, net of underwriting discounts and expenses. Luse… Read more »
Luse Gorman Served as Legal Counsel to CF Mutual Holding Company in its Conversion and to Cincinnati Bancorp, Inc. in its Related Stock Offering
On January 22, 2020, CF Mutual Holding Company, Cincinnati, Ohio, completed its conversion from the mutual holding company to the stock holding company form of organization and Cincinnati Bancorp, Inc., the new stock holding company for Cincinnati Federal, sold $15.5 million of common stock in a public offering. Cincinnati Federal operates through offices in Cincinnati… Read more »
Luse Gorman served as Legal Counsel to FFBW, Inc. in its Conversion and Stock Offering
Luse Gorman served as Legal Counsel to FFBW, Inc. in its Conversion and Stock Offering On January 16, 2020, FFBW, Inc., Waukesha, Wisconsin, the holding company for First Federal Bank of Wisconsin, completed its conversion from the mutual holding company to the stock holding company form of organization and related stock offering, whereby FFBW,… Read more »
Luse Gorman is Legal Counsel to Bogota Savings Bank in its MHC Reorganization and $56.6 Million Stock Offering
Luse Gorman is Legal Counsel to Bogota Savings Bank in its MHC Reorganization and $56.6 Million Stock Offering On January 15, 2020, Bogota Savings Bank, Teaneck, New Jersey, completed its reorganization from a mutual savings bank to the mutual holding company form of organization. Concurrently with the reorganization, Bogota Financial Corp., the newly formed holding… Read more »