On July 23, 2025, Cornerstone Bank, Spencer, Massachusetts, a subsidiary of PeoplesBancorp, MHC, Holyoke, Massachusetts, entered into a merger agreement pursuant to which Athol Savings Bank, Athol, Massachusetts, will merge into Cornerstone Bank, with Cornerstone Bank as the surviving entity. Luse Gorman served as legal counsel to Cornerstone Bank in the transaction. The Luse Gorman… Read more »
Posts By: tames
Luse Gorman was Legal Counsel to ESSA Bancorp, Inc. in its Merger with CNB Financial Corporation
On July 23, 2025, ESSA Bancorp, Inc., Stroudsburg, Pennsylvania, the holding company for ESSA Bank & Trust, completed its merger with CNB Financial Corporation, Clearfield, Pennsylvania, the holding company for CNB Bank. Luse Gorman served as legal counsel to ESSA Bancorp, Inc. in the transaction. The Luse Gorman team consisted of John Gorman, Marc Levy,… Read more »
Luse Gorman Served as Legal Counsel to San Francisco Federal Credit Union in its Proposed Acquisition of Summit Bank
On July 21, 2025, San Francisco Federal Credit Union (“SFFCU”), San Francisco, California, announced that it had entered into a definitive agreement to acquire substantially all the assets and assume substantially all the liabilities of Summit Bank (“Summit”), Oakland, California. SFFCU has approximately $1.33 billion in assets and operates nine branches across San Francisco and… Read more »
Luse Gorman Served as Legal Counsel to Lake Shore Bancorp, Inc. in its Conversion and Related $49.5 Million Stock Offering
On July 18, 2025, Lake Shore Bancorp, Inc., Dunkirk, New York, the holding company for Lake Shore Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and its related stock offering. A total of 4,950,460 shares of common stock were sold in the offering at a price… Read more »
Alert – Reminder to Prepare for EDGAR Next
To our clients and friends: On September 27, 2024, the Securities and Exchange Commission (the “SEC”) adopted a Final Rule that made changes to the SEC’s Electronic Data Gathering, Analysis, and Retrieval (“EDGAR”) system filer access and account management. The updated system is known as “EDGAR Next” and reflects the SEC’s initiative to modernize the… Read more »