On Friday, November 9, 2018, Jeff Cardone gave a presentation on “Recent Developments in Executive and Director Compensation” at the Western Bankers Association Annual Directors Conference in Salt Lake City, Utah. The presentation focused on the importance of compensation planning in connection with a merger, trends in incentive compensation pay, new changes to IRC 162(m)… Read more »
Posts By: tames
Luse Gorman Serves as Legal Counsel to Mutual Bank in its Proposed Merger with North Easton Savings Bank
On November 6, 2018, Mutual Bank, Whitman, Massachusetts, and North Easton Savings Bank, South Easton, Massachusetts, jointly announced that the banks will merge operations under the North Easton Savings Bank name. The combined institution will have total assets of over $1 billion. Luse Gorman serves as legal counsel to Mutual Bank in the transaction. The Luse… Read more »
Eric Luse and Jeff Cardone presented at the 2018 New York Bankers Association Financial Services Forum
On Tuesday, October 30, Eric Luse and Jeff Cardone gave a presentation on “Recent Developments in Executive Compensation” at the 2018 New York Bankers Association Financial Services Forum in Key Biscayne, Florida. The presentation focused on new changes to IRC Section 162(m) and its impact on compensation planning, ways to mitigate the effect of IRC… Read more »
Luse Gorman Serves as Legal Counsel to Hamilton Bancorp, Inc. in its Proposed Merger with Orrstown Financial Services, Inc.
On October 23, 2018, Hamilton Bancorp, Inc. (“Hamilton”), Towson, Maryland, the holding company for Hamilton Bank, and Orrstown Financial Services, Inc. (“Orrstown”), Shippensburg, Pennsylvania, the holding company for Orrstown Bank, announced a definitive merger agreement pursuant to which Hamilton will merge with and into Orrstown, with Orrstown as the resulting company. Hamilton stockholders will receive… Read more »
IRS Issues Guidance on New Code Section 162(m)
On August 21, 2018, the Internal Revenue Service released Notice 2018-68 which provides guidance regarding the changes made to Section 162(m) of the Internal Revenue Code by the Tax Cuts and Jobs Act of 2017, which is effective for tax years after January 1, 2018. Section 162(m) limits the amount of tax-deductible compensation that “publicly held”… Read more »